Business Context and Reporting Period
This Form 6-K filing by Moxian (BVI) Inc. (also referred to as Abits Group Inc.) covers the month of February 2023. The report addresses the company's status regarding Nasdaq listing compliance.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on regulatory compliance rather than financial performance.
Material Changes
The primary material change reported is the resolution of a Nasdaq listing deficiency. Previously, the company received notice on November 11, 2022, that its share price had fallen below the $1.00 minimum bid price requirement for 30 consecutive business days. The company successfully regained compliance after maintaining a closing bid price of $1.00 or greater for 10 consecutive business days between January 20 and February 2, 2023.
Guidance, Outlook, and Risks
On February 3, 2023, Nasdaq notified the Registrant that it had regained compliance with Listing Rule 5550(a)(2), closing the matter. The company issued a press release on February 6, 2023, confirming this status. No forward-looking guidance, management commentary on operations, or new risk factors were disclosed in this specific filing.
Investor Verification Checklist
- Verify the current stock price to ensure continued compliance with the $1.00 minimum bid price requirement.
- Confirm the filing of the press release dated February 6, 2023, as Exhibit 99.1.
- Review subsequent filings for any new Nasdaq deficiency notices or financial updates.