Powerbridge Technologies Announces Measures to Maintain Nasdaq Listing Status, Drive Growth Potential, and Enhance Future Acquisition Opportunities
ZHUHAI, China, May 10, 2023 /PRNewswire/ -- Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) (the "Company", "Powerbridge", or "PBTS"), a provider of multi-industry technology solutions, is pleased to announce upcoming measures to maintain continued listing status on the Nasdaq exchange, supporting the Company's long-term growth strategy and bolstering its access to favorable positioning in current and upcoming acquisition negotiations.
"We continue to prioritize the financial interests of our entire shareholder base above all other concerns," commented Powerbridge CEO, Mr. Stewart Lor. "We are confident that maintaining our uninterrupted status as a Nasdaq-listed stock is our most effective path to achieving both our near-term growth objectives and our long-term vision as an emerging global leader with diversified exposure to next generation technology verticals."
Powerbridge has made significant investments in SaaS, ePlatforms, and Smart Devices for global trade, travel and leisure, education, and digital assets, with a base that now spans a broad range of clients from global trade and cross-border participants to retail customers and educators.
The Company's recent moves include its announced plan to further enhance ChatGPT as an educational technology services asset, its acquisition of a majority stake in several high growth technology companies, its strategic engagement in AI and Blockchain technology companies, and its development of metaverse and NFT solutions targeting multiple industries.
Lor added, "Since establishing our Nasdaq listed status, we have been able to massively expand our strategic footprint, gaining traction in a wide range of emerging growth technology markets, including metaverse development, AI-driven ed-tech, and cryptocurrency. We believe these investments have already laid a powerful foundation with tremendous long-term upside potential targeting the core industries best positioned to define the growth economy of the 21st century."
As commented in the Company's release dated April 28, 2023, Powerbridge management believes it can regain full Nasdaq listing compliance upon the completion of a 1-for-30 reverse stock split of the Company's securities.
"We have planted the seeds of a robust value proposition," concluded Lor. "The steps we take now to support the full actualization of that vision are an expression of the faith we have in our long-term strategic roadmap as well as our commitment to delivering on the faith our shareholders have placed in Powerbridge as demonstrated through their loyalty and support over many years—something we see as our most valuable asset. We look forward to cementing our compliance status and aggressively pursuing fresh opportunities aligned with our long-term vision."
About Powerbridge Technologies
Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) is a leading provider of multi-industry technology solutions. The Company offers software and platform applications, IoT platform services and intelligent devices, supply chain platforms and interactive media services, metaverse and digital services, and cryptocurrency asset operations and services.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may", "will", "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements; specifically, the Company's statements regarding listing on the Nasdaq Capital Market and the IPO are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Furthermore, there can be no assurance that the Company will be able to satisfy the Nasdaq Capital Market's continued listing requirements, regain compliance with all associated rules, including its Low-Priced Stocks Rule, or maintain compliance with other Nasdaq continued listing requirements.
For more information, please contact:
Corporate Investor Relations
Powerbridge Technologies Co., Ltd.
Email: ir@powerbridge.com
Website: www.powerbridge.com/ir/
SOURCE Powerbridge Technologies Co., Ltd.
