TOKYO – BloomZ Inc. (NASDAQ: BLMZ), a micro-cap company with a market capitalization of $8.33 million specializing in audio production and talent management of voice actors and virtual YouTubers (VTubers), has been notified by Nasdaq of non-compliance with the exchange's minimum bid price rule. According to InvestPro According to the data, the stock has seen significant volatility, with shares currently trading at $0.60. The notice, received on December 2, 2024, states that the Company's shares failed to meet the required minimum bid price of $1.00 over a period of 30 consecutive business days from October 18 to November 29, 2024.
Nasdaq Listing Rule 5550(a)(2) states that listed companies must maintain a minimum bid price of at least $1.00 per share. BloomZ now has 180 calendar days, until June 2, 2025, to return to compliance. To achieve this, the Company's common stock must close at $1.00 or higher for at least 10 consecutive trading days during the 180-day period. If BloomZ fails to meet this requirement within the specified time frame, it may be granted additional time to return to compliance or face the risk of being delisted from the Nasdaq Capital Market.
Currently, the notice of deficiency does not affect the listing or trading of BloomZ's securities on Nasdaq. The company has expressed its intention to actively monitor its stock price and take reasonable steps to restore compliance within the specified time frame. InvestPro The analysis reveals that the company maintains a high liquidity ratio of 1.6, which indicates sufficient liquid assets to meet its short-term obligations. Subscribers can access 8 additional key financial indicators and information on BLMZ's financial health.
BloomZ Inc. operates through its subsidiary Kabushiki Kaisha BloomZ in Japan, drawing on over a decade of experience in audio production for animation and video games. Despite difficult market conditions, InvestPro data shows that the company achieved notable revenue growth of almost 30% over the last twelve months. The company continues to focus on cultivating and promoting voice actors and VTubers, a growing segment in the entertainment industry.
This press release contains forward-looking statements, which are based on management's current expectations and projections. However, there can be no assurance that these projections will be realized and actual results could differ materially. Forward-looking statements involve risks and uncertainties that may affect the company's performance.
The information in this article is based on a press release from BloomZ Inc.
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