ACCESSWIRE
24 Jan 2023, 23:05 GMT+10
WESTPORT, CT and MUMBAI, INDIA / ACCESSWIRE / January 24, 2023 / Mobile Global Esports Inc. (MOGO) (NASDAQ:MGAM), the mobile esports company driving collegiate esports tournaments, team, player and social media platform development in India, today announced that the Company has received notice that it no longer faces delisting on Nasdaq following the return of its per share stock price to $1 or greater for 10 consecutive business days.
The Nasdaq Stock Market notified MOGO on December 22, 2022 that its common stock was not in compliance with the minimum bid price as its per share price had been below $1 for 30 consecutive business days. In accordance with the NASDAQ Listing Rule 5810(c)(3)(A), the Company had been provided 180 calendar days, or until June 19, 2023, to regain compliance with NASDAQ Listing Rule 5550(a)(2). To regain compliance, the Company's ordinary shares must have a closing bid price of at least $1.00 for a minimum of 10 consecutive trading days.
Since then, NASDAQ staff determined that for the 10 consecutive business days, from January 5, 2023 to January 19, 2023, the closing bid price of the Company's common stock has been at $1.00 per share or greater. NASDAQ notified Mobile Global Esports on January 20, 2023 that it has regained compliance with Listing Rule 5550(a)(2) and the matter of delisting is now closed.
About Mobile Global Esports Inc.
Mobile Global Esports Inc. (NASDAQ:MGAM) is a mobile esports and social platform company that holds trademark and IP rights for collegiate esports tournaments, teams, and players in India. Mobile Global Esports ('MOGO' or 'Mogo') was organized in March of 2021 to carry on and expand an esports business (the 'Business') started by its predecessor in 2016. MOGO is now building out and expanding its esports business, with special focus on India and other South Asian markets. For more information about the Company, please visit MOGO's website and Instagram, Facebook & Twitter social media accounts. Investors can sign up for updates at MOGO Investor Relations Site: https://ir.mogoesports.com/alerts
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They are generally identifiable by use of the words 'may,' 'will,' 'should,' 'anticipate,' 'estimate,' 'plans,' 'potential,' 'projects,' 'continuing,' 'ongoing,' 'expects,' 'management believes,' 'we believe,' 'we intend' or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements in this release, which are subject to risks and uncertainties, include statements regarding the expected use of proceeds. These statements are based on our management's expectations, beliefs and assumptions concerning future events, which in turn are based on currently available information. These expectations, beliefs and assumptions could prove inaccurate. Although we believe that the estimates and projections reflected in the forward-looking statements are reasonable, our expectations, beliefs and assumptions may prove to be incorrect.
Media Contact: Rich Schineller, 941.780.8100, rich@prmgt.com
SOURCE: Mobile Global Esports
Get a daily dose of Salt Lake City Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Salt Lake City Sun.
More InformationSINGAPORE: In December, Singapore saw its key consumer price gauge rise 5.1 percent, higher than predicted, official data said. However, ...
RESTON, Virginia: Amidst labor and supply shortages, US defense contractor General Dynamics forecasted weak 2023 results, though strong demand for ...
ATLANTA, Georgia: In light of its significant debt, the slowing economy and rising interest rates stifling consumer demand, US mattress-maker ...
BENTONVILLE, Arkansas: To attract and retain employees in a tight domestic labor market, Walmart has announced that it it will ...
NEW YORK, New York - U.S. stocks hesitatingly continued higher Friday, reflecting widespread gains, albeit modest ones, across the globe."We're ...
NEW YORK CITY, New York: As early as this year, lab-grown meat could be served in some restaurants in the ...
Tehran [Iran], January 29 (ANI): The Iranian government has increased its oil sales to China at a highly discounted price, ...
Los Angeles (California) [US], January 29 (ANI): As per a new study, some patients with behavioural-variant frontotemporal dementia (bvFTD), an ...
The Los Angeles Clippers carry a five-game winning streak into the second game of a weekend back-to-back on Sunday, a ...
Washington - For New York teacher Michael Flanagan, the pandemic was a crash course in new technology - rushing out ...
Minneapolis - In Somalia, al-Qaida-affiliated militant group al-Shabab has been on a gradual retreat for months, and this could be ...
© Provided by Xinhua HANGZHOU, Jan. 29 (Xinhua) -- Chen Jia doesn't often cook, but she still managed to prepare ...