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/
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SOURCE Powerbridge Technologies Co., Ltd.