grant fla jan 31 2022 prnewswire  kaival brands innovations group inc kavl kaival brands the company or we the exclusive global distributor of all products manufactured by bidi vapor llc bidi vapor which are intended for adults 21 and over announced today that it has received notification from the nasdaq stock market llc nasdaq notifying the company that it is not in compliance with the requirement to maintain a minimum closing bid price of 100 per share as set forth in nasdaq listing rule 5550a2 because the closing bid price of the companys common stock the common stock was below 100 per share for 30 consecutive trading days the notification does not impact the listing of the companys common stock on the nasdaq capital market at this time in accordance with nasdaq listing rule 5810c3a the company has a period of 180 calendar days from the date of notification or until july 25 2022 to regain compliance with the minimum bid price requirement during this period the companys common stock will continue to trade on the nasdaq capital market if at any time before july 25 2022 the bid price of the companys common stock closes at or above 100 per share for a minimum of 10 consecutive business days nasdaq will provide written notification that the company has achieved compliance with this minimum bid price requirement in the event the company does not regain compliance by july 25 2022 the company may be eligible for an additional 180 calendar day compliance period to demonstrate compliance with the bid price requirement to qualify for the additional 180day period the company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the nasdaq capital market with the exception of the bid price requirement and will need to provide written notice to nasdaq of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split if necessary if the company does not qualify for the second compliance period or fails to regain compliance during the second 180day period then nasdaq will notify the company of its determination to delist the company to address this issue the company intends to continuously monitor its closing bid price and is in the process of considering various measures to improve its financial position and results of operations which the company expects to countervail the shortterm adverse effects on its trading price and cure the deficiency in due time based in melbourne florida bidi vapor maintains a commitment to responsible marketing supporting ageverification standards and sustainability through its bidi® cares recycling program bidi vapors premier device the bidi® stick is a premium product made with medicalgrade components a ulcertified battery and technology designed to deliver a consistent vaping experience for adult smokers 21 and over bidi vapor is also adamant about strict compliance with all federal state and local guidelines and regulations at bidi vapor innovation is key to its mission with the bidi® stick promoting environmental sustainability while providing a unique vaping experience to adult smokers based in grant florida kaival brands is a company focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets our vision is to develop internally acquire own or exclusively distribute these innovative products and grow each into dominant marketshare brands with superior quality and recognizable innovation kaival brands is the exclusive global distributor of all products manufactured by bidi vapor learn more about kaival brands innovations group inc at wwwirkaivalbrandscom this press release includes statements that constitute forwardlooking statements within the meaning of federal securities laws which are statements other than historical facts that frequently use words such as anticipate believe continue could estimate expect forecast intend may plan position should strategy target will and similar words all forwardlooking statements speak only as of the date of this press release although we believe that the plans intentions and expectations reflected in or suggested by the forwardlooking statements are reasonable there is no assurance that these plans intentions or expectations will be achieved therefore actual outcomes and results could materially differ from what is expressed implied or forecasted in such statements our business may be influenced by many factors that are difficult to predict involve uncertainties that may materially affect results and are often beyond our control factors that could cause or contribute to such differences include but are not limited to the timing and results of bidi vapors appeal of the fdas pmta determinations the scope of future fda enforcement of regulations in the ends industry the fdas approach to the regulation of synthetic nicotine and its impact on our business the ability to regain compliance with nasdaqs minimum bid price requirement the duration and scope of the covid19 pandemic and impact on the demand for the products we distribute the actions governments businesses and individuals take in response to the pandemic including mandatory business closures and restrictions on onsite commercial interactions the impact of the pandemic and actions taken in response to the pandemic on global and regional economies and economic activity the pace of recovery when the covid19 pandemic subsides general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth the effects of steps that we could take to reduce operating costs our inability to generate and sustain profitable sales growth circumstances or developments that may make us unable to implement or realize anticipated benefits or that may increase the costs of our current and planned business initiatives changes in government regulation or laws that affect our business significant changes in our relationships with our distributors or subdistributors and those factors detailed by us in our public filings with the securities and exchange commission all forwardlooking statements included in this press release are expressly qualified in their entirety by such cautionary statements except as required under the federal securities laws and the securities and exchange commissions rules and regulations we do not have any intention or obligation to update any forwardlooking statements publicly whether as a result of new information future events or otherwise