Bit Brother receives delisting notice from Nasdaq regarding insufficient bid

Bit Brother (NASDAQ code: BETS) announced today that it has received notice from NASDAQ that the exchange has decided to delist the company's securities from NASDAQ due to the company's failure to comply with NASDAQ listing rules. The reason is that the company's securities closed at $0.10 or lower for 11 consecutive trading days from October 26th to November 9th, 2023.

This notice will not immediately affect the company's listing and trading, as the company intends to apply for a hearing before an expert panel by November 17th, 2023. Such applications will suspend any suspension or delisting actions by NASDAQ until the hearing process is completed. It is not guaranteed that the expert panel will approve the company's request for more time to demonstrate compliance with continued listing requirements, or that the company will be able to meet continued listing requirements during any compliance period or in the future. If the expert panel does not approve the company's extension application, the company's common stock will be affected.