$Color Star Technology Co. Ltd(CSCW)$NEW YORK, Oct. 11, 2022 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq: CSCW) ("Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, announces today that on October 10, 2022, it received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that since the closing bid price of the Company's common stock has been at $1.00 per share or greater, it has regained compliance with the Nasdaq's minimum $1.00 bid price per share requirement.

The Company was first notified by Nasdaq of its failure to maintain a minimum bid price of $1.00 per share for 30 consecutive trading days under Nasdaq Listing Rule 5550(a)(2) and 5810(c)(3)(A) on October 27, 2021, and was given until April 25, 2022 to regain compliance. On April 26, 2022, the Company received an extension of another 180-calendar-day compliance period that it was eligible for an additional 180 calendar day period, or until October 24, 2022, to regain compliance.

On October 10, 2022, the Company received notice from Nasdaq confirming that for the last 10 consecutive business days, from September 26 through October 7, 2022, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2), and this matter is now closed.