Meiwu Technology Company Ltd Stock Price, News & Analysis

On February 7, 2023, Meiwu Technology Company Limited (WNW) received a notification from Nasdaq indicating that its share price has been below the $1.00 minimum requirement for 30 consecutive business days. This notification does not immediately affect its listing, as WNW has until August 7, 2023, to regain compliance by maintaining a share price of at least $1 for 10 consecutive business days. If compliance is not met, the company may be eligible for an additional 180 days provided it meets other listing standards.

Meiwu Technology Co., Limited (NASDAQ: WNW) has reported a significant decline in financial performance for the first half of fiscal 2022. Total revenues dropped by 84.45% to US$1.17 million, and the net loss surged by 354.30% to US$5.53 million compared to the same period in 2021. Despite an increase in registered users to 711,534, average daily active users fell sharply to 197.3. The ongoing impacts of COVID-19 lockdowns have severely affected operations, but the company anticipates a sales recovery in the second half of 2022.

On October 25, 2022, Meiwu Technology Company Limited (WNW) announced that it has regained compliance with NASDAQ's minimum bid price requirement. The notice confirmed that as of October 24, 2022, WNW's shares met the minimum closing bid price of $1.00 per share for the last 10 consecutive business days.

This follows an initial notification received on May 13, 2022, regarding its failure to maintain the required bid price. The compliance matter is now closed, allowing the company to continue trading on NASDAQ.

Meiwu Technology Company Limited (WNW) received notice from Nasdaq regarding non-compliance with its minimum bid price of $1 per share, having remained below this threshold for 30 consecutive business days. The Company has until November 9, 2022, to regain compliance; if achieved, Nasdaq will confirm compliance in writing. If not, WNW may be eligible for an additional 180 days to rectify the situation, potentially involving a reverse stock split. The notification does not currently affect WNW's listing on Nasdaq.

Meiwu Technology Company Limited (NASDAQ: WNW) announced a securities purchase agreement with five investors on April 28, 2022. Under this agreement, Meiwu will issue $5,000,000 in unsecured promissory notes and warrants to purchase 1,600,000 ordinary shares. The notes feature a 9% original issue discount and bear 10% interest, maturing in 18 months. Investors can convert the notes at $0.50 or 80% of the market price, with a floor price of $0.30 per share. The deal aims to combine the benefits of stocks and bonds, enhancing Meiwu's financial strategy and market competitiveness.

Shenzhen, China, Feb. 28, 2022 (GLOBE NEWSWIRE) -- Meiwu Technology Company Limited (NASDAQ: WNW) has expanded into the offline experience store market as part of its strategy to create a closed-loop retail ecosystem. In January 2022, sales during a nine-day promotion increased 1.5 times compared to the previous year, with orders doubling, backed by over 50 experience stores and 600,000 registered members. The company aims to open 300 additional stores and forecasts a 200% revenue increase and 100% profit growth over the next two years.

Wunong Net Technology Company Limited (NASDAQ: WNW) will officially change its name to Meiwu Technology Company Limited on December 2, 2021. CEO Xinliang Zhang stated this new name better represents the company's global high-tech internet trading platform and services beyond its original business model. The company, incorporated in the British Virgin Islands, operates primarily through its Chinese subsidiary and focuses on optimizing its online retail services to meet consumer demands in the food sector.

Wunong Net Technology Co. Ltd. (Nasdaq: WNW) announced on May 19, 2021, that it has received notification from Nasdaq for non-compliance with Listing Rule 5250(c)(1) due to failure to file its annual report on Form 20-F for the year ended December 31, 2020. The Company has 60 days to submit a plan for compliance. Wunong aims to file its annual report by June 30, 2021, to meet the compliance requirements. Should the plan be accepted, Wunong could receive an extension of up to 180 days to regain compliance.

Wunong Net Technology Co. Ltd. has priced its initial public offering (IPO) of 5,000,000 ordinary shares at $5.00 each, aiming for $25,000,000 in gross proceeds. The underwriters also acquired 999,910 shares from a selling shareholder, bringing total gross proceeds to $29,999,550. Trading on the Nasdaq under the symbol WNW begins on December 15, 2020, with the offering expected to close on December 17, 2020. Boustead Securities and Brilliant Norton are the lead underwriters for this firm commitment offering.