BEIJING, May 20, 2023 /PRNewswire/ -- 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 a notification from NASDAQ on May 17, 2023, which states that due to the Company's failure to timely file its quarterly report on Form 10-Q for the quarter ended March 31, 2023, the Company failed to comply with Nasdaq's filing requirements set forth in Listing Rule 5250(c)(1) The matter serves as an additional basis for delisting the Company's securities from The Nasdaq Stock Market.
This notification from Nasdaq also serves as a formal notification that the Nasdaq Hearings Panel (the "Panel") will consider this noncompliance in rendering a determination regarding the Company's continued listing on The Nasdaq Capital Market. Pursuant to Listing Rule 5810(d), the Company should present its views with respect to this additional delinquency to the Panel at its hearing. If the Company fails to address this additional issue at its hearing, the Panel will consider the record as presented at the hearing and will make its determination based upon that information.
The Company is in the process of preparing the plan to regain compliance and will submit relevant materials to the Panel to regain compliance as soon as possible.
About WeTrade Group Inc.
WeTrade Group Inc. is a global diversified "software as a service" ("SaaS") technology service provider which is committed to providing technical support and digital transformation tools for enterprises across different industries. The four business segments of WeTrade Group are YCloud, WTPay ,Y-Health and YG.
YCloud is a micro-business cloud intelligent system launched by WeTrade, serving global micro-business industry. YCloud strengthens users' marketing relationship and CPS commission profit management through leading technology and big data analysis. It also helps increase the payment scenarios to increase customers' revenue by multi-channel data statistics, AI fission and management as well as improved supply chain system.
Independently developed by the Company, WTPay supports multiple methods of online payment and eight mainstream digital wallets in over 100 countries to help customers quickly realize global collection and payment business.
Y-Health is the sector focusing on public health business, which engages in developing global business for biological health and medical enterprises. Currently, Y-Health mainly focuses on detection and prevention of epidemic, daily healthcare, traditional Chinese medicines, and others.
YG is the new energy business segment which mainly provides tools and technical support for the digital new energy industry in the Middle East and Central Asia.
For more information, please visit https://ir.wetg.group.
This press release contains information about the Company's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company's encourages you to review other factors that may affect its future results in the Company's annual reports and in its other filings with the Securities and Exchange Commission.
SOURCE WeTrade Group Inc.