Nasdaq's determination is based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market, with the exception of the bid price requirement, and the Company's written notice of its intention to cure the deficiency during the second compliance period and if necessary, by effecting a reverse stock split. While the Company believes it will be able to timely regain compliance with Nasdaq's continued listing requirements, there can be no assurance that the Company will be able to regain compliance or will otherwise be able to maintain compliance with other Nasdaq listing criteria. To regain compliance with Nasdaq's minimum bid price requirement set forth under Nasdaq Listing Rule 5810(c)(3)(A), the closing bid price of the Company's common shares must be at least US$1.00 per share or greater for at least ten consecutive business days by March 15, 2027.