UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANTTO RULE 13
a
-16 OR 15
d
-16
UNDERTHE
SECURITIES EXCHANGE ACT OF 1934
For the month of May 2023
Commission File Number: 001-39734
Oriental Culture Holding LTD.
Room 1402, Richmake Commercial Building
198-200 Queen's Road Central, Hong Kong
(Address of principal executive office)
Indicate by check mark whether the registrantfiles or will file annual reports
under cover of Form 20-F or Form 40-F:
Form 20-F Form 40-F
Indicate by check mark if the registrant is submittingthe Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submittingthe Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):
SIGNATURES
Pursuant to the requirementsof the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereuntoduly authorized.
Oriental Culture Holding LTD
Date: May 12, 2023 By: /s/ Yi Shao
Name: Yi Shao
Title: Chief Executive Officer
1
Exhibit Index
Exhibit No. Description
99.1 Oriental Culture Holding LTD. Granted Additional 180 Calendar Day Grace
Period by Nasdaq to Regain Compliance with Minimum Bid Price Rule
2
Exhibit 99.1
Oriental Culture HoldingLTD. Granted Additional 180 Calendar Day Grace Period
by Nasdaq to Regain Compliance with Minimum Bid Price Rule
Hong Kong, China,May 12, 2023 (GLOBE NEWSWIRE) -- Oriental Culture Holding
LTD. ("Oriental Culture" or the "Company")(NASDAQ: OCG), a leading online
service provider of collectibles and artworks, today announced that, on May
10, 2023, the Companyreceived a written notification from the NASDAQ Stock
Market Listing Qualifications Staff (the "Staff") indicating thatthe Company
has been granted an additional 180 calendar day period or until November 6,
2023, to regain compliance with the $1.00minimum closing bid price requirement
for continued listing on the NASDAQ Capital Market pursuant to NASDAQ Listing
Rule (the"Minimum Bid Price Requirement").
NASDAQ's determinationwas based on the Company having met the continued
listing requirement for market value of publicly held shares and all other
applicablerequirements for initial listing on the NASDAQ Capital Market, with
the exception of the bid price requirement, and the Company'swritten notice to
NASDAQ of its intention to cure the deficiency during the second compliance
period by effecting a reverse stock split,if necessary. If at any time during
this additional time period the closing bid price of the Company's security is
at least $1.00per share for a minimum of 10 consecutive business days, NASDAQ
will provide written confirmation of compliance and this matter will beclosed.
If compliance cannot be demonstrated by November 6, 2023, Staff will provide
written notification that the Company's securitieswill be delisted. At that
time, the Company may appeal the Staff's determination to a Hearings Panel
(the "Panel") ofNASDAQ.
This notification fromNasdaq has no immediate effect on the listing or trading
of the Company's ordinary shares, which will continue to trade on the
NasdaqCapital Market under the symbol "OCG". The Company will monitor the
closing bid price of its ordinary shares and willconsider various options to
regain compliance before November 6, 2023.
About Oriental Culture Holding LTD.
Oriental Culture Holding LTD is an online collectiblesand artwork e-commerce
service provider that allows collectors, artists, art dealers and owners to
access a much bigger art trading marketwhere they can engage with a wider
range of collectibles or artwork investors than they could likely encounter
without our platforms. Wecurrently facilitate trading by individual and
institutional customers of various kinds of collectibles and artworks and
certain commoditieson our leading online platforms owned by our subsidiaries
in Hong Kong. We also provide online and offline integrated marketing,
storageand technical maintenance service to our customers in China. The
Company is in the process of developing business and services relatingto NFTs
for cultural and artwork collections as well as a metaverse project. For more
information about the Company, please visit: www.ocgroup.hk.
Forward-Looking Statement
This press release contains forward-looking statementsas defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
include statements regarding plans, objectives,goals, strategies, future
events or performance, as well as underlying assumptions and other statements
that are not historical facts.A company is making forward-looking statements
when it uses words such as "may," "will," "intend,""should," "believe,"
"expect," "anticipate," "plan," "estimate"or similar expressions that do not
relate solely to historical matters. Forward-looking statements are not
guarantees of future performanceand involve risks and uncertainties that could
cause actual results to differ materially from the Company's expectations
discussedin the forward-looking statements. These statements are subject to
uncertainties and risks, including, but not limited to, the Company'sobjectives
and strategies; the Company's future business development; financial condition
and results of operations; demand forand acceptance of products and services;
reputation and brand name; the impact of competition and pricing; changes in
technology; governmentregulations; fluctuations in general economic and
business conditions in China and assumptions relating to any of the foregoing
and theCompany's other risks contained in its reports filed with the
Securities and Exchange Commission. For these reasons, we cautioninvestors not
to place undue reliance on any forward-looking statements contained in this
press release. Additional factors are discussedin the Company's filings with
the Securities and Exchange Commission, which are available at www.sec.gov.
The Company undertakesno obligation to publicly revise these forward-looking
statements to reflect events or circumstances arising after the date hereof.
For further information, please contact:
Company Contact.
IR Department
Email: IR@ocgroup.hk
Phone: +852- 21103909