On March 07, Sentage Holdings Inc. (SNTG) rose further in the after-hours to trade at a price of $1.03 per share. Recently, on March 3, the company had shared receiving a minimum bid price deficiency notice from Nasdaq.
In the prior regular trading session, the stock advanced by 11.20% at a volume of 594.41K shares. SNTG closed the session in the green at a price of $0.8896, still shy of the required minimum bid price requirement. Following this, the stock added a further 15.78% to reach the required bid price. Thus, having reached the minimum bid price, the stock now needs to maintain the price for at least 10 consecutive days to regain compliance with Nasdaq.
The China-based financial services provider, Sentage Holdings Inc. has a market capitalization of $11.2 million. Currently, the company has 14 million shares outstanding in the market.
Non-compliance Notice
As announced on Thursday, Sentage Holdings Inc. (SNTG) received a minimum bid price deficiency notice from Nasdaq dates February 28. Due to a continued bid price of below $1.0 for consecutive 30 days, the company is in non-compliance with Nasdaq Listing Rule 5550(a)(2). Therefore, Nasdaq has provided the company with 180 calendar days, till August 29, 2022, to regain compliance. The company will regain compliance if its shares close on or above $1.0 for 10 consecutive days before the end of the grace period.
In addition, if the company fails to regain compliance within the allotted grace period of 180 days, SNTG may be eligible for a further 180 days extension. But, as per Nasdaq rules, there is also a possibility of being delisted if it did not regain compliance.
While the company was considering its options including a reverse share split, the stock has already reached the required bid price point. SNTG stock suffered a slight downtrend following the announcement of the news to rebound on Monday. There was no official reason behind the recent bullish move toward $1.00 while the company did provide its investor events schedule for participation in March.
SNTG’s Financial Highlights
For the first half of 2021, SNTG had reported a net income of $0.45 million on revenue of $1.32 million. Comparatively, the company had a net income of $0.73 million on revenue of $1.73 million in the same period of 2020. Moreover, the EPS was $0.04 and $0.07 in the first half of 2021 and 2020, respectively.
Furthermore, the company ended the period with cash and restricted cash of $0.10 million, against $0.14 million on December 31, 2020.
