Global Mofy AI Limited Faces Notification from Nasdaq Regarding Stock Price

Nasdaq Notification Sparks Concern for Global Mofy AI Limited

Recent Nasdaq Notice Raises Questions for Global Mofy AI Limited

Beijing, September 27, 2024 – Global Mofy AI Limited (Nasdaq: GMM), a leading virtual content production and digital asset development company utilizing generative AI technology, recently received a written notification from Nasdaq cautioning that the minimum closing bid price per share for the Company’s ordinary shares fell below the $1.00 per share requirement for continued listing under Nasdaq Listing Rule 5550(a)(2) over the past 30 consecutive business days.

While the Notification Letter does not impact the current listing or trading of the Company’s securities on Nasdaq, Global Mofy AI Limited has been granted a 180-day compliance period until March 24, 2025, to rectify the situation. During this time, if the closing bid price of the Company’s ordinary shares reaches or exceeds US$1.00 per share for a minimum of ten consecutive business days, Nasdaq will confirm compliance.

In the event that Global Mofy AI Limited fails to achieve compliance by the deadline, a potential additional 180-day period may be granted. The Company is actively monitoring its share bid price and exploring strategies to regain compliance with Nasdaq Listing Rules.

About Global Mofy AI Limited

Global Mofy AI Limited (Nasdaq: GMM) is a pioneer in generative AI-driven technology solutions, focused on virtual content production and digital asset development for various applications in the digital content industry. Through its innovative "Mofy Lab" technology platform, the Company produces high-quality 3D virtual representations of physical objects, characters, and scenes for use across different sectors such as movies, TV, AR/VR, animation, gaming, and more. With a collection of over 100,000 precision 3D digital assets, Global Mofy AI Limited plays a significant role in shaping the digital landscape. To learn more, visit www.globalmofy.cn/ or ir.globalmofy.cn.

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. These statements reflect the Company’s intentions, strategies, and expectations related to future performance. While the Company aims to meet its objectives, actual results may vary due to market conditions and other factors outlined in the "Risk Factors" section of the SEC filing. Investors are advised to exercise caution when considering these forward-looking statements and review the Company’s filings on www.sec.gov for additional information.

For more information, please contact:

Global Mofy AI Ltd.
Investor Relations Department
ir@mof-vfx.com