SINGAPORE, May 19, 2023
/PRNewswire/ -- EUDA Health Holdings Limited (the "Company"
or "EUDA") (NASDAQ: EUDA, EUDAW), a Singapore-based health technology company that
operates a first-of-its-kind Southeast Asian digital healthcare
ecosystem, announced today that it received a delinquency
notification letter ("Notice") from the Listing Qualifications
Staff (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") on
May 18, 2023 due to the Company's
non-compliance with Nasdaq Listing Rule 5250(c)(1) as a result of
the Company's failure to timely file its Quarterly Report on Form
10-Q for the fiscal quarter ended March 31,
2023 (the "Form 10-Q"). Nasdaq Listing Rule 5250(c)(1)
requires listed companies to timely file all required periodic
financial reports with the Securities and Exchange Commission (the
"SEC").
As reported on April 10, 2023, the
Company has received a similar notice from Nasdaq on April 5, 2023 as a result of the Company's
failure to timely file its Annual Report on Form 10-K for the
fiscal year ended December 31,
2022. The Notice states that the Company has up to
June 5, 2023 to submit to Nasdaq a
plan to regain compliance with the Nasdaq Listing Rules. If Nasdaq
accepts the Company's plan, then Nasdaq may grant the Company up to
September 27, 2023 for filing the
Form 10-K and the Form 10-Q to regain compliance. If Nasdaq does
not accept the Company's plan, then the Company will have the
opportunity to appeal that decision to a Nasdaq Hearings Panel. If
our appeal fails, the Company's securities may be delisted.
Management of the Company has been working diligently to
complete all of the required information for the Form 10-K and Form
10-Q, and a substantial part of such information has been completed
as of this date. However, the Company requires additional time to
prepare, review and finalize its financial statements.
The Notice has no immediate impact on the listing of the
Company's common stock, which will continue to trade on Nasdaq
under the symbol "EUDA".
This announcement is made in compliance with Nasdaq Listing Rule
5250(b)(2).
About EUDA Health Holdings Limited
EUDA Health Holdings Limited is a Singapore-based health technology company that
operates a first-of-its-kind Southeast Asian digital healthcare
ecosystem aimed at making healthcare affordable and accessible, and
improving the patient experience by delivering better outcomes
through personalized healthcare. The company's proprietary unified
AI platform quickly assesses patients' medical history, triages
conditions, digitally connects patients with clinicians, and
predicts optimal treatment outcomes. EUDA's holistic approach
supports patients throughout all stages of care, including wellness
and prevention, urgent care and emergencies, pre-existing
conditions, and aftercare services.
Forward-Looking Statements
This announcement contains forward-looking statements, including
statements about the financial condition, results of operations,
earnings outlook and prospects of the Company. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements.
Forward-looking statements are typically identified by words such
as "plan," "believe," "expect," "anticipate," "intend," "outlook,"
"estimate," "forecast," "project," "continue," "could," "may,"
"might," "possible," "potential," "predict," "should," "would" and
other similar words and expressions, but the absence of these words
does not mean that a statement is not forward-looking.
The forward-looking statements are based on the current
expectations of the Company's management and are inherently subject
to uncertainties and changes in circumstances and their potential
effects and speak only as of the date of such statement. There can
be no assurance that future developments will be those that have
been anticipated. These forward-looking statements involve a number
of risks, uncertainties or other assumptions that may cause actual
results or performance to be materially different from those
expressed or implied by these forward-looking statements. These
risks and uncertainties include, but are not limited to, those
discussed and identified in public filings made with the SEC by the
Company.
Enquiries:
Sherry
Zheng
shunyu.zheng@weitian-ir.com
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SOURCE EUDA Health Holdings Limited