28 May 2026 | Thursday | News
Picture Courtesy | Public Domain
SOLAI Limited (previously traded under "BTCM") ("SOLAI" or the "Company"), a technology-driven personal AI and digital infrastructure provider, announced that it received a letter from the New York Stock Exchange (the "NYSE"), dated April 27, 2026, notifying the Company that it was not in compliance with applicable market capitalization and equity criteria (the "Market Cap and Equity Criteria") in the NYSE's continued listing standards because, as of April 24, 2026, the Company's (i) average total market capitalization was less than US$50 million over a consecutive 30 trading-day period, and (ii) last reported stockholders' equity as of December 31, 2025 was less than US$50 million.
In accordance with procedures in the NYSE's Listed Company Manual, the Company has 90 calendar days following its receipt of the notice to submit a business plan to the NYSE that demonstrates how the Company intends to regain compliance with the Market Cap and Equity Criteria within 18 months of receipt of the notice. The Company has already acknowledged receipt of the notice and intends to develop and submit such a business plan to the NYSE. The business plan will then be reviewed for final disposition by the NYSE. Any outstanding listing or annual fees must be paid in full before the business plan is submitted to and reviewed by the NYSE.
If the NYSE accepts the plan, the Company will be subject to quarterly monitoring for compliance with the business plan. If the NYSE does not accept the business plan, the Company will be subject to suspension by the NYSE and delisting by the SEC.
Notwithstanding the foregoing, the NYSE may take accelerated delisting action if the Company's American Depositary Shares ("ADSs") trade at levels viewed to be "abnormally low," which the NYSE generally views as trading below US$0.10.
The NYSE notice does not affect the Company's business operations, its U.S. Securities and Exchange Commission reporting requirements, or its contractual obligations. The notice has no immediate impact on the listing of the Company's ADSs, which will continue to be listed and traded on the NYSE, subject to compliance with other NYSE continued listing standards, including the conditions set forth in the NYSE's letter dated January 29, 2026 for noncompliance with the US$1.00 over a 30 trading-day average price standard, and other rights of the NYSE to delist the ADSs. The cure periods under the different standards work independently of each other, and the NYSE could take delisting action under one standard while the Company remains in the cure period for the other. The Company will continue to be included in the list of NYSE noncompliant issuers, and the below compliance (".BC") indicator will continue to be disseminated with the Company's ticker symbol(s). The website posting and .BC indicator will be removed when the Company has regained compliance with all applicable continued listing standards.
Fintech Business Asia, a business of FinTech Business Review
© 2026 FinTech Business Review. All Rights Reserved.