Fintech Ecosystem Construction Corp. Receives Gaze from Nasdaq

Collegeville, PA, June 19, 2024 –(PR.com)– As beforehand disclosed, on December 27, 2023, the Firm obtained a written check from the Checklist Abilities Division (the “Workers”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that for the reason that Firm has not but filed its Create 10-Q for the duration ended September 30, 2023 (the “Create 10-Q”), the Firm will not be in compliance with Nasdaq Checklist Rule 5250(c)(1) (the “Rule”), which requires the Firm to timely file all required periodic monetary reports with the U.S. Securities and Alternate Price (the “SEC”). Per Nasdaq Checklist Rule IM-5810-1(c)(2)(A)(v), the Firm submitted a plan to in discovering compliance with the Rule (the “Belief”).

On Also can 20, 2024, the Firm obtained a written check (the “Gaze”) indicating that the Workers obvious to delist the Firm’s securities from Nasdaq, unless the Firm timely requests a listening to sooner than a Hearings Panel (the “Panel”), in accordance with the Workers’s choice that the Workers very finest has discretion to grant an extension till Also can 20, 2024. The Workers renowned that, as effectively as to the Firm’s Create 10-Q for the duration ended September 30, 2023, its Create 10-Okay for the duration ended December 31, 2023 and its Create 10-Q for the duration ended March 31, 2024 were also delinquent pursuant to the Rule.

Accordingly, the Firm intends to timely ask (the “Ask of”) a listening to sooner than the Panel. The listening to ask will set up the suspension of the Firm’s securities with Nasdaq moral for a duration of 15 days pursuant to Nasdaq Checklist Rule 5815(a)(1)(B) (the “Terminate Rule”). The Firm, pursuant to the Terminate Rule, intends to incorporate in its Ask of a collection up of the suspension pending the listening to. Nasdaq’s check has no rapid attain on the list of the Firm’s frequent stock, units or warrants on Nasdaq. The time and assign of any listening to sooner than the Panel will be obvious by the Panel. There’ll also be no assurance that the Panel will grant the Firm’s ask for persevered set up or persevered list.

Forward-Taking a peer Statements

Sure statements made on this press birth are “forward-having a peer statements” within the which approach of Part 27A of the Securities Act of 1933, as amended, Part 21E of the Securities Alternate Act of 1934, as amended, and the “rep harbor” provisions below the Non-public Securities Litigation Reform Act of 1995. All statements as adverse to statements of historical truth integrated on this Most up-to-date Yarn on Create 8-Okay are forward-having a peer statements. When dilapidated on this press birth, phrases akin to “stay up for,” “mediate,” “continue,” “could,” “estimate,” “assign a question to,” “intend,” “could,” “could,” “plan,” “likely,” “doable,” “predict,” “project,” “could composed,” “would” and diversifications of these phrases or comparable expressions (or the negative versions of such phrases or expressions), as they disclose to the Firm or its management workforce, are intended to determine forward-having a peer statements. Many components could motive staunch future events to range materially from the forward-having a peer statements on this press birth, including the Firm’s capacity to efficiently ask a additional set up, efficiently charm a delisting choice, the Firm’s capacity to resolve the deficiency below the Rule and in discovering compliance with the Rule. Such forward-having a peer statements are in accordance with the beliefs of management, as effectively as assumptions made by, and data currently on hand to, the Firm’s management. Forward-having a peer statements need to not guarantees of future efficiency, stipulations or outcomes, and involve a decision of identified and unknown dangers, uncertainties, assumptions and other predominant components, lots of that are beyond the retain an eye fixed on of the Firm, including those situation forth within the “Threat Elements” a part of the Firm’s closing prospectus for its initial public offering filed with the SEC on October 18, 2021, and other paperwork of the Firm filed, or to be filed, with the SEC, that could motive staunch outcomes or outcomes to range materially from those discussed within the forward-having a peer statements. All subsequent written or oral forward-having a peer statements attributable to the Firm or folks acting on its behalf are certified in their entirety by this paragraph. The Firm undertakes no duty to alter or revise any forward-having a peer statements for revisions or adjustments after the date of this press birth, in addition to as required by regulation.

Contacts:

For Media
Kirti Naik
E mail: kirti.kirk@fintechecosys.com

For Fintech Ecosystem Construction Corp.
Dr. Saiful Khandaker
saiful@fintechecosys.com