Bitcoin trading platform specialist WPCS International Inc. (NASDAQ: WPCS) said that on July 1, 2014, it received notice from the NASDAQ Stock Market LLC that the NASDAQ Hearing Panel has determined to grant the company´s request for continued listing on The NASDAQ Capital Market.
The allowance is subject to certain conditions, including the solicitation of proxies and the holding of a combined annual meeting for fiscal 2013 and 2014 by September 30, 2014.
On May 2, 2014, the NASDAQ Listing Qualifications Staff notified the company that it did not in a timely manner satisfy the annual meeting and proxy solicitation requirements, and that the company´s securities were subject to delisting unless the company requested a hearing before the panel. On June 12, 2014, the company appeared before the panel and requested an extension through September 30, 2014 to satisfy the proxy solicitation and annual meeting requirements.
WPCS operates in two business segments including: (1) providing communications infrastructure contracting services to the public services, healthcare, energy and corporate enterprise markets worldwide; and (2) developing a Bitcoin trading platform. For more information, visit www.wpcs.com and www.btxtrader.com.