China SXT Pharmaceuticals Inc (SXTC)

[boston127]

Looks like another R/S to get above $1.

That means the number of OS will soon be less than 2M. That is assuming that they can hold it above $1, with only 2M shares, for 10 consecutive days. They might reverse the OS to 1M, and a price of $2, to stop the shorts. This stock is not for the faint of heart. All they have to do is release great sales numbers, or a merger and an injection of cash, and they will not need to do an RS. This is China. They have plenty of money stolen from the USA.

China SXT Pharmaceuticals, Inc. Receives 180-Day Extension From Nasdaq To Meet Minimum Bid Price Rule
8:12 am ET May 10, 2023 (Benzinga) Print
China SXT Pharmaceuticals, Inc. ("SXTC" or the "Company"), (NASDAQ:SXTC), a specialty pharmaceutical company focusing on the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces ("TCMPs"), including Advanced TCMPs (Directly-Oral TCMP and After-Soaking-Oral TCMP), fine TCMPs, regular TCMPs, and TCM Homologous Supplements ("TCMHS"), today announced that on May 4, 2023, the Company received a written notification from the Nasdaq's Listing Qualifications Department, granting the Company another 180 calendar days extension, or until October 30, 2023, to regain compliance with Nasdaq's minimum bid price requirement.

The Company can cure this deficiency if the closing bid price of its ordinary shares is $1.00 per share or higher for at least 10 consecutive business days during this second compliance period. The Company intends to regain compliance with the minimum bid price requirement on or before October 30, 2023 and is considering all available options, including a reverse stock split if necessary. During this time, the Company's ordinary shares will continue to be listed and traded on the Nasdaq Capital Market, and this notice will have no effect on the operations of the Company's business.

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