Paranovus Entertainment Technology Limited Regains Compliance with Nasdaq Periodic Financial Reports Filing Rule
NEW YORK, April 29, 2025 /PRNewswire/ -- Paranovus Entertainment Technology Limited ("PAVS" or the "Company"), (NASDAQ:PAVS) announced today that it has received a formal notification from the Nasdaq Stock Market LLC ("Nasdaq"), dated April 25, 2025, notifying that the Company has regained compliance with Nasdaq Listing Rule 5250(c)(2) (the "Rule").
The Nasdaq staff has determined that the Company complies with the Rule based on the Form 6-K furnished by the Company on April 24, 2025, disclosing its interim financial statements for the six-month ended September 30, 2024. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5250(c)(2) and this filing delinquency matter is now closed.
About Paranovus Entertainment Technology Limited
Paranovus Entertainment Technology Ltd. focuses on the development of AI-powered entertainment products, including AI-driven games and applications, as well as TikTok-related e-commerce solutions through its subsidiary. The Company is committed to delivering immersive and engaging experiences through innovative AI and digital commerce platforms.
In March 2025, the Company completed the acquisition of the controlling equity interests of Bomie Wookoo Inc., a New York company that offers e-commerce solutions. As part of its strategic transformation, Paranovus has exited its legacy businesses, including the e-commerce, internet information, and advertising businesses in September 2023 and ceased its automobile sales business in July 2024.
For more information on our latest innovations and developments, visit https://www.pavs.ai/.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; the Company's future acquisition opportunities; the Company's ability to identify any acquisition opportunities that fit with our business strategies; the Company's ability to consummate an attractive acquisition and realize the benefits of such transaction; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic, the COVID-19 outbreak and its impact on our operations and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Michael Chen
929.288.7418
[email protected]
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SOURCE Paranovus Entertainment Technology Ltd.