Business Context and Reporting Period
This Form 6-K is filed by Moxian (BVI) Inc (also referred to as Abits Group Inc) for the month of February 2022. The filing addresses a regulatory matter concerning the company's listing status on The Nasdaq Stock Market LLC.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current report regarding compliance and does not contain financial statements.
Material Changes
The material change reported is the resolution of a delinquency regarding the company's Form 20-F transition report. The company previously failed to file this report by the November 16, 2021 deadline, resulting in a Notice from Nasdaq stating non-compliance with Listing Rule 5250(c)(1). The matter was resolved upon the filing of the Form 20-F on February 7, 2022.
Guidance, Outlook, and Risks
Management Commentary: The company issued a press release on February 8, 2022, to satisfy the public announcement requirement under Nasdaq Listing Rule 5810(b).
Risks and Contingencies: The primary risk addressed was the potential loss of listing status due to late filing. The Nasdaq Staff determined the company now complies with the rule, and the matter is closed.
Unusual Items: None reported beyond the late filing and subsequent compliance resolution.
Investor Verification Checklist
- Verify the content of the attached press release (Exhibit 99.1) for additional details on the compliance resolution.
- Confirm the filing status of the Form 20-F transition report covering the period from October 1 to December 31, 2020.
- Monitor future periodic filings to ensure continued compliance with Nasdaq Listing Rule 5250(c)(1).