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Global Interactive Technologies, Inc. Announces its Receipt of Determination Letter from Nasdaq

1. GITS received a Determination Letter regarding compliance with Nasdaq listing requirements. 2. The company has until February 3, 2025, to maintain a $1.00 minimum bid price.

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FAQ

Why Bearish?

The warning indicates potential delisting if GITS fails to comply. Similar cases often lead to stock price drops.

How important is it?

Compliance issues can significantly affect investor confidence and stock valuation. They directly relate to stock price stability.

Why Short Term?

Immediate focus on compliance increases volatility until the deadline. Past instances show rapid price reactions nearing compliance deadlines.

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GITS
SEOUL, KOREA / ACCESS Newswire / February 10, 2025 / Global Interactive Technologies, Inc. (NASDAQ:GITS) (the "Company"), a media-tech company and creator of FANTOO, an all-in-one social media experience connecting k-culture fans globally, today announced that on February 5, 2025, the Company received a notification letter (the "Determination Letter") from the staff at the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq"). As disclosed in the Company's Form 8-K filed on August 9, 2024, Nasdaq granted the Company 180 days, until February 3, 2025, to regain compliance with Nasdaq Listing Rule 5550(a)(2), which requires the Company's common stock to maintain a minimum bid price of $1.00 per share (the "Minimum Bid Price Requirement").

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