KULR Technology Group, Inc. (NYSE American: KULR), a company specializing in energy management technology, has been issued a deficiency letter by the NYSE American LLC regarding its stock trading price falling below the required minimum. The notification highlights that KULR’s average stock price remained under $0.20 over a 30-trading day period, falling short of the Section 1003(f)(v) criteria outlined in the NYSE American Company Guide.
In response, the NYSE American has set a deadline of August 12, 2024, for KULR to demonstrate a consistent improvement in its stock price or to implement a reverse stock split to regain compliance with the listing standards. KULR Technology Group has expressed its commitment to resolving the stock price deficiency and complying with the continued listing requirements.
It’s important to note that the receipt of the deficiency letter currently has no impact on the listing or trading of KULR’s common stock on the exchange. Additionally, it does not affect the company’s ongoing business operations or its reporting obligations to the U.S. Securities and Exchange Commission.
KULR Technology Group Inc. is widely recognized for its advancements in supporting the electrification of the circular economy, offering thermal management technologies for batteries and electronic systems. The company’s portfolio of products and services prioritizes efficiency and sustainability, catering to diverse customers across multiple industries.