Tantech Holdings Ltd (NASDAQ: TANH) announced today that on February 28, it received notification from The Nasdaq Stock Market LLC confirming the Company has regained compliance with NASDAQ's minimum bid price requirement under Listing Rule 5550(a)(2). NASDAQ noted this matter is now closed.
For the past decade, according to this morning’s news release, “Tantech has been a highly specialized high-tech enterprise producing, researching and developing bamboo charcoal-based products with an established domestic and international sales and distribution network.”
Since 2017, when the Company acquired 70% of Shangchi Automobile, a vehicle manufacturer based in Zhangjiagang City, Jiangsu Province, it has manufactured and sold vehicles.
The Company established two new subsidiaries, Lishui Smart New Energy Automobile Co., Ltd. and Zhejiang Shangchi New Energy Automobile Co., Ltd., in November 2020, to produce and sell street sweepers and other electric vehicles. The Company is fully ISO 90000 and ISO 14000 certified and has received a number of national, provincial and local honors, awards and certifications for its products and scientific research efforts. The Company's subsidiary, First International Commercial Factoring (Shenzhen) Co., LTD, is engaged in commercial factoring for businesses in and related to its supply chain.
TANH shares lost a penny to $2.90.
