WeTrade Group Inc. (“WeTrade” or the “Company”) (NASDAQ:WETG), a global diversified “software as a service” (“SaaS”) technology service provider committed to providing technical support and digital transformation tools for enterprises across different industries, today announced that the Company received from Nasdaq a notice of noncompliance because the Company failed to timely file its 2022 annual report on form 10-K with the Securities Exchange Commission (the “SEC”).
Under Nasdaq rules, the company has 60 calendar days from receipt of the Notice (April 20, 2023) or until June 20, 2023, to submit a plan to regain compliance with the Rule. If Nasdaq accepts the Company’s plan, then Nasdaq may grant an exception of up to 180 calendar days from the due date of the form 10-K (April 17, 2023), or until October 16, 2023, to regain compliance.
The application has no immediate impact on the listing of the Company’s common stock, which will continue to be listed and traded on The Nasdaq Capital Market, subject to the Company’ s compliance with the other listing requirements of The Nasdaq Capital Market.
The Company is in the process of preparing the plan to regain compliance and finalizing the financial statements for the year ending December 31, 2022. The Company will submit the plan to regain compliance and the 2022 annual report at soon as possible.
