MDJM LTD Announces Receipt of Nasdaq Suspension Determination and Plans to Request a Hearing before an Independent Nasdaq Hearings Panel

Rhea-AI Summary

MDJM LTD (Nasdaq: UOKA) received a Nasdaq staff determination that its securities will be suspended effective with the open of trading on March 20, 2026 after a closing bid ≤ $0.10 for 10 consecutive business days.

The company plans to request a hearing before an independent Nasdaq Hearings Panel, expects OTC Markets eligibility during the hearing, and completed a 1-for-25 reverse split effective March 16, 2026 while considering options to regain Nasdaq compliance.

Positive

• Company will request a hearing before an independent Nasdaq Panel
• Securities expected to be eligible to trade on OTC Markets during hearing
• Completed a 1-for-25 reverse split effective March 16, 2026

Negative

• Nasdaq suspension effective with open of trading on March 20, 2026
• Securities closed at $0.10 or less for 10 consecutive business days
• Subject to Discretionary Panel Monitor under Nasdaq rule since November 19, 2025

News Market Reaction – UOKA

-71.12% 1.9x vol

51 alerts

-71.12% Session close to close

-77.6% Trough in 7 hr 8 min

$1.80M Market Cap

1.9x Rel. Volume

In the Mar 19 session, UOKA declined 71.12%, reflecting a significant negative market reaction. Argus tracked a trough of -77.6% from its starting point during tracking. Our momentum scanner triggered 51 alerts that day, indicating high trading interest and price volatility. Trading volume was above average at 1.9x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock dropped -71.1% in the session following this news. A negative reaction despite the company...

Analysis

The stock dropped -71.1% in the session following this news. A negative reaction despite the company’s plan to request a Nasdaq hearing fits a pattern of fragile sentiment. Shares were already down 99.17% from the 52-week high and trading far below the $80.10 200-day moving average. The suspension decision, combined with recent reverse stock splits and an active $70,000,000 shelf, adds material listing and financing risk that could reinforce selling pressure around regulatory headlines.

Key Figures

Bid price threshold: $0.10 Non-compliance duration: 10 consecutive business days Prior reverse split: 1-for-25 +3 more

6 metrics

Bid price threshold $0.10 Closing bid at or below this level for 10 consecutive business days triggered suspension notice

Non-compliance duration 10 consecutive business days Period during which closing bid was $0.10 or less before Nasdaq letter

Prior reverse split 1-for-25 Reverse stock split effected on May 20, 2025 referenced in listing rules

Panel monitor period 1 year Discretionary Panel Monitor under Nasdaq Listing Rule 5815(d)(4)(A)

Suspension effective date March 20, 2026 Date when Nasdaq suspension of UOKA securities is scheduled to take effect

Reverse split effective March 16, 2026 Date when a further reverse stock split became effective per the company

Historical Context

5 past events · Latest: Mar 16 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 16	Animated short update	Positive	-10.3%	Script refinement phase for international animated short film collaboration.
Mar 11	Cultural RWA launch	Positive	+3.8%	Launch of Cultural RWA initiative centered on historic Fernie Castle asset.
Mar 10	Feature film MoU	Positive	-2.5%	MoU with Abano Producións to explore Journey to the West feature film.
Mar 09	Policy support highlight	Positive	+1.3%	Highlight of UK and EU policy support for animation and creative sectors.
Mar 05	Digital museum plan	Positive	+9.9%	Announcement of digital animation museum as a funded growth initiative.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent creative/strategic announcements have produced mixed reactions, with both sharp gains and notable selloffs, suggesting sentiment is fragile and headline-dependent.

Recent Company History

Over the past two weeks, UOKA focused on building a cultural and animation IP ecosystem. Announcements included a digital animation museum initiative on Mar 5, policy support highlights on Mar 9, an animated film MoU on Mar 10, a cultural RWA initiative on Mar 11, and an animated short development update on Mar 16. Market reactions ranged from -10.25% to +9.92%, indicating investors have been trading these developments tactically. Today’s Nasdaq suspension news contrasts with those growth-focused updates and adds a clear listing-risk dimension.

Key Terms

discretionary panel monitor, reverse stock split, otc markets

3 terms

discretionary panel monitor regulatory

"the Company is subject to a Discretionary Panel Monitor under Nasdaq Listing Rule 5815(d)(4)(A)..."

A discretionary panel monitor is a compliance mechanism—either a small oversight group or a software tool—that reviews and checks trades made at a manager’s discretion to ensure they follow investment rules, risk limits and client instructions. For investors it matters because this watchdog helps prevent unauthorized or risky decisions, reduces the chance of loss or regulatory penalties, and protects trust much like a referee or speed governor keeps a game or machine within safe limits.

reverse stock split financial

"Because the Company effected a 1 for 25 reverse stock split on May 20, 2025..."

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

otc markets financial

"the Company expects that its securities will be eligible to be traded on the OTC Markets..."

Over-the-counter (OTC) markets are trading venues where buyers and sellers deal directly through dealers or electronic networks instead of on a formal exchange; think of a neighborhood flea market versus a supermarket. They matter to investors because OTC-listed stocks often represent smaller or international companies with fewer reporting requirements, which can mean lower liquidity, wider price swings and higher risk but sometimes earlier access to growth opportunities.

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LETHAM, Scotland, March 19, 2026 /PRNewswire/ -- MDJM LTD (Nasdaq: UOKA) (the "Company"), an integrated global culture innovation company, today announced that the Company received a staff determination letter (the "Letter"), on March 13, 2026, from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that, as the Company's securities had a closing bid price of $0.10 or less for 10 consecutive business days, its securities would be suspended effective with the open of trading on March 20, 2026. Because the Company effected a 1 for 25 reverse stock split on May 20, 2025,the Company is also subject to the provisions set forth in Nasdaq Listing Rule 5810(c)(3)(A)(iii) and Rule 5810(c)(3)(A)(iv). In addition, following the Nasdaq Listing Qualifications Panel's decision dated November 19, 2025, the Company is subject to a Discretionary Panel Monitor under Nasdaq Listing Rule 5815(d)(4)(A) for a period of one year.

The Company intends to timely request a hearing before an independent Hearings Panel (the "Panel"). Notwithstanding, given that the Company traded below $0.10 for 10 consecutive business days, the hearing request will not stay the suspension of the Company's securities. During the pendency of the hearing, the Company expects that its securities will be eligible to be traded on the OTC Markets under the same ticker symbol "UOKA." There can be no assurance that the Panel will grant the Company's request for continued listing or otherwise provide relief from the suspension determination, and the ultimate outcome of the hearing process remains uncertain.

The Company is currently considering all options available to regain compliance with Nasdaq's listing requirements and return to good standing on Nasdaq, including a reverse stock split, which became effective on March 16, 2026, and will provide its shareholders with any material updates when they are available.

About MDJM LTD

MDJM LTD is a global culture innovation company focused on cultural IP development, animation production, international licensing, and cultural venue operations. The Company has been expanding its operations in the UK, where it is developing projects such as Fernie Castle in Scotland and the Robin Hill Property in England. These properties are being remodeled into multi-functional cultural venues that will feature fine dining, hospitality services, art exhibitions, and cultural exchange events. As part of its broader strategy, the Company is collaborating with select European animation studios to develop animated short films that blend Eastern themes with Western artistry. The Company aims to integrate Eastern philosophy with international artistic practices, creating a global cultural ecosystem built on storytelling and immersive experience. This initiative reflects the Company's commitment to furthering its global market expansion and enhancing its cultural business footprint. For more information regarding the Company, please visit https://www.ir-uoka.com/.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's annual report on Form 20-F and its other filings with the U.S. Securities and Exchange Commission.

Investor Contact

Sherry Zheng
WAVECREST GROUP INC.
Phone: +1 718-213-7386
Email: sherry@wavecrestipo.com 

View original content:https://www.prnewswire.com/news-releases/mdjm-ltd-announces-receipt-of-nasdaq-suspension-determination-and-plans-to-request-a-hearing-before-an-independent-nasdaq-hearings-panel-302717943.html

SOURCE MDJM LTD

FAQ

Why is MDJM LTD (UOKA) being suspended from Nasdaq on March 20, 2026?

The suspension is due to a closing bid price at or below $0.10 for 10 consecutive business days. According to the company, Nasdaq's Listing Qualifications Department issued a staff determination and set suspension effective with the open of trading on March 20, 2026.

Will MDJM LTD (UOKA) still be tradable after the Nasdaq suspension on March 20, 2026?

Yes, the company expects its securities to be eligible to trade on OTC Markets during the hearing process. According to the company, OTC trading would use the same ticker symbol "UOKA" while the Nasdaq suspension is pending.

What actions has MDJM LTD (UOKA) taken to address Nasdaq listing compliance?

The company plans to timely request a hearing before an independent Nasdaq Hearings Panel to seek relief. According to the company, it is also considering options to regain compliance, including a reverse stock split effective March 16, 2026.

How does the March 16, 2026 1-for-25 reverse split affect MDJM LTD (UOKA)?

The reverse split consolidates shares at a 1-for-25 ratio to raise the per-share price. According to the company, the split became effective March 16, 2026 and is being considered as part of steps to meet Nasdaq listing standards.

What is the likelihood MDJM LTD (UOKA) will remain listed on Nasdaq after the hearing?

The outcome is uncertain and there is no assurance the Panel will grant continued listing or relief from suspension. According to the company, the hearing request does not stay the suspension, and the ultimate result remains unknown.