CHANGSHA, China – Bit Brother Limited (OTC Pink: BETSF), a company engaged in managing businesses in China and cryptocurrency businesses in the United States, today announced its plans to appeal the Nasdaq Stock Market Hearing Panel’s recent delisting decision.
The appeal is in response to the suspension of trading of Bit Brother’s Class A common stock on the Nasdaq since last Monday, which resulted in shareholders being unable to trade on the over-the-counter market, resulting in significant losses due to sharp drops in stock prices.
The company has received support from global shareholders who believe that Bit Brother’s recent financial activities have not harmed their interests. With the cryptocurrency market currently bullish, Bit Brother is concentrating on its digital currency operations, with shareholders expecting growth in the sector.
The company claims that the delisting came at an inopportune time, which could potentially impact expected profits from cryptocurrency transactions.
Bit Brother intends to file an appeal with Nasdaq by March 20, 2024 and invites shareholders to express their views and support the appeal. The company’s activities include the strategic management and integration of cryptocurrency mining facilities in the United States, and has expanded two mining operations with plans for further growth.
The press release also contains forward-looking statements that are subject to various risks and uncertainties. The company cautions that although it believes the expectations reflected in these statements are reasonable, they are based on assumptions that may prove incorrect and that actual results may differ materially.
Bit Brother said these forward-looking statements are subject to the risk factors detailed in the company’s periodic reports filed with the Securities and Exchange Commission.
Information for this news article is based on a press statement from Bit Brother Limited.
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