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AZI Received Nasdaq Notification Regarding Minimum Market Value Deficiency

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BEIJING, March 28, 2025 /PRNewswire/ — Autozi Internet Technology (Global) Ltd. (Nasdaq: AZI) (“Autozi” or the “Company”), a automotive products and services company in China, today announced that it has received written notification (the “Notification Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) dated March 25, 2025, notifying the Company that it is not in compliance with the minimum Market Value of Listed Securities (MVLS) of $50,000,000. Nasdaq Listing Rule 5450(b)(2)(A) requires a company that has its primary equity security listed on the Nasdaq Global market to maintain a minimum Market Value of Listed Securities (MVLS) of $50,000,000, and Nasdaq Listing Rule 5810(c)(3)(C) provides that a failure to meet the market value requirement exists if the deficiency continues for a period of last 30 consecutive business days. Based on the market value of the Company for the 30 consecutive business days from February 10, 2025 to March 24, 2025, the Company no longer meets the requirement of minimum Market Value of Listed Securities (MVLS).

The Notification Letter does not impact the Company’s listing on The Nasdaq Global Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has been provided 180 calendar days, or until September 22, 2025, to regain compliance with the market value requirement. To regain compliance, the Company’s MVLS must close at $50,000,000 or more for a minimum of ten consecutive business days during the compliance period of 180 calendar days. If the Company does not regain compliance by September 22, 2025 or transfer to The Nasdaq Capital Market, the Company will receive written notification that its securities are subject to delisting. 

The Company intends to monitor its market value of publicly held shares between now and September 22, 2025 and intends to cure the deficiency within the prescribed grace period. During this time, the Company expects that its Class A ordinary shares will continue to be listed and traded on The Nasdaq Global Market.

Notwithstanding the Notification Letter, the Company remains confident in its core business fundamentals and its position in the automotive services market in China. Autozi’s advanced supply chain cloud platform and SaaS solutions continue to create tangible value for both customers and partners, supporting the Company’s long-term growth strategy. Management is focused on operational optimization, disciplined execution, and prudent capital allocation, all with the goal of driving sustainable value for Autozi’s shareholders. The Company believes that these efforts will position Autozi for continued success and expansion in the years ahead.

About Autozi

Autozi Internet Technology (Global) Ltd. is a leading, fast-growing provider of lifecycle automotive services in China. Founded in 2010, Autozi offers a comprehensive range of high-quality, affordable, and professional automotive products and services through both online and offline channels across the country. Leveraging its advanced online supply chain cloud platform and SaaS solutions, Autozi has built a dynamic ecosystem that connects key participants across the automotive industry. This interconnected network enables more efficient collaboration and streamlined processes throughout the entire supply chain, positioning Autozi as a key driver of innovation and growth in the automotive services sector.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995, including but not limited to statements related to Autozi’s cash position, financial resources and potential for future growth, market acceptance and penetration of new or planned product offerings, and future recurring revenues and results of operations. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “hope,” “going forward,” “intend,” “ought to,” “plan,” “project,” “potential,” “seek,” “may,” “might,” “can,” “could,” “will,” “would,” “shall,” “should,” “is likely to” and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about the Company’s beliefs and expectations are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact Information

The Blueshirt Group
Jack Wang
Email: Jack@blueshirtgroup.co 

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SOURCE Autozi Internet Technology (Global) Ltd.

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Accelecom says KCNA is Deceiving the Public About KentuckyWired

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 KCNA is Threatening to Disconnect Access to Essential Service Providers, Including Schools and Hospitals

LOUISVILLE, Ky., May 12, 2025 /PRNewswire/ — The Kentucky Communications Network Authority (KCNA) is deceiving the people of Kentucky about the KentuckyWired project, which it has completely mishandled. In an attempt to conceal its gross incompetence—which has already cost the Commonwealth a fortune, with more to come—KCNA has advanced the false narrative that others, this time Accelecom, are to blame for the state of the project. That is categorically false, and it’s time to set the record straight.

Accelecom has faithfully honored the Wholesaler Agreement and, indeed, has supported KCNA over and above its requirements, even lending millions to KCNA to replace critical infrastructure that was left to rot due to KCNA’s deficient maintenance practices. KCNA complains publicly of the absence of wholesale customers and dark-fiber sales, yet Accelecom currently has 44 wholesale customers for dark-fiber and lit services and KCNA is denying dozens of wholesale dark-fiber sales transactions, some that have been pending KCNA’s review since 2023.

Meanwhile, KCNA has repeatedly breached the agreement in numerous ways. First by denying Accelecom access to make connections that KCNA had long reviewed and eventually by canceling the contract before its disputes with Accelecom—legitimate disputes being pursued in Kentucky courts and with the Finance Administration Cabinet (FAC)—have been resolved. To make matters worse, having exhausted its construction budget due to persistent cost overruns, KCNA breached the Wholesaler Agreement by giving away thousands of miles of its dark fiber network to third parties in exchange for construction services. The dark fiber capacity given away by KCNA is many times what it expected Accelecom to sell over its entire lifetime of the contract.

Regardless, and in the face of KCNA’s deplorable conduct, Accelecom has remained faithful to the project and fighting every day to keep the KentuckyWired system up and running.

There is no need to disconnect customers. The “emergency” that is causing so much distress is entirely of KCNA’s making. They are disregarding their contractual duties and harming the public. Accelecom, by contrast, stands ready, willing and able to continue honoring its obligations to KCNA and its customers.

Concerned citizens and business owners should make their voices heard and hold KCNA leadership to account. It is not too late to salvage this critical infrastructure project, but it soon will be. The time to act is now.

About Accelecom
Accelecom is a leading provider of next-generation fiber solutions across the Southeastern United States, delivering high-speed network, internet, voice and managed services solutions to wholesale, public sector, and business customers across the region. With its extensive fiber network and commitment to bridging the digital divide, Accelecom enables organizations to accelerate innovation, leverage emerging technologies & enhance digital transformation. For more information, visit the Accelecom website and follow the company on FacebookLinkedInInstagram, and Twitter.

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SOURCE Accelecom

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Mahipal Reddy Yalla, COO & CTO of Virtual Networx Inc., Joins Forbes Technology Council

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Mahipal Reddy Yalla joins Forbes Technology Council, recognized for innovation in AI, infrastructure automation, and enterprise IT leadership.

DALLAS, May 12, 2025 /PRNewswire-PRWeb/ — Mahipal Reddy Yalla accepted into Forbes Technology Council Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs, and technology executives.

This opportunity allows me to share insights, engage with visionary leaders, and strengthen our mission at Virtual Networx to drive enterprise innovation through AI and automation.” — Mahipal Reddy Yalla, COO & CTO, Virtual Networx Inc

Mahipal Reddy Yalla, COO & CTO of Virtual Networx Inc., a leader in AI-powered IT infrastructure and automation solutions, has been accepted into Forbes Technology Council.

Mahipal was selected by a review committee based on the depth and diversity of his experience. Criteria for acceptance include a track record of successfully impacting business growth metrics, as well as personal and professional achievements and honors.

As a member of the Council, Mahipal has access to a variety of exclusive opportunities designed to help him reach peak professional influence. He will connect and collaborate with other respected leaders in a private forum. Mahipal will also have the opportunity to share his expert insights in original articles and contribute to published Expert Panels alongside other experts on Forbes.com.

“I’m honored to join the Forbes Technology Council. This opportunity allows me to share insights, engage with visionary leaders, and strengthen our mission at Virtual Networx to drive enterprise innovation through AI and automation.”

ABOUT FORBES COUNCILS

Forbes Councils is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council (YEC). In Forbes Councils, exceptional business owners and leaders come together with the people and resources that can help them thrive.

To learn more about Forbes Councils, visit https://councils.forbes.com

Media Contact

Mahipal Reddy Yalla, Virtual Networx Inc, 1 6264163666, vni.info@virtualnetworx.com, https://virtualnetworx.com

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SOURCE Virtual Networx Inc

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Beating the Fraudemic: Sumsub Debuts WTF Summit in Singapore

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Bringing Together Global Experts to Spearhead Collaborative Efforts in Building the Future of Digital Trust

SINGAPORE, May 13, 2025 /PRNewswire/ — Sumsub, a global full-cycle verification platform, today announced the launch of its inaugural flagship event—What The Fraud Summit (WTF Summit), the first visionary summit to beat the global fraudemic. The first edition of the event is set to take place at Andaz Singapore from November 19 to 20, 2025. With an assembly of over 500 experts and industry leaders from fraud prevention, compliance, financial crime, regulation, and product innovation, the WTF Summit aims to bridge the gaps between fraud prevention, AI-driven security, regulatory shifts, and digital resilience to formulate actionable anti-fraud strategies to drive the future of digital trust.

With the democratization of fraud and the continuously evolving fraud tactics, Asia-Pacific (APAC) has witnessed a 121% year-on-year increase in identity fraud in 2024, revealed by Sumsub’s 2024 Identity Fraud Report. Another alarming trend observed globally is that nearly half of companies and end users worldwide reported being victims of identity fraud at least once last year, and businesses suffer a loss of approximately $300,000 per fraud event.

“With the rapidly growing fraud risks across the globe, we recognized a critical need for a dedicated platform for industry leaders, regulators and fraud experts to have bold conversations and exchange actionable insights to beat the global fraudemic,” said Andrew Sever, Co-founder and CEO of Sumsub. “By launching the WTF Summit in APAC, we aim to fill the gap in discussions surrounding the multifaceted nature of fraud prevention in the region. Our goal is to collaborate with top minds to craft holistic strategies to create a safer digital future for everyone.”

Top Industry Voices to Shape the Future of Fraud Prevention 

The WTF Summit presents a diverse lineup of speakers, including renowned experts and thought leaders from the space of fintech, crypto, tech, and compliance to connect the dots between fraud prevention, AI security, regulation, and resilience. 

Among all, some of the highlighted speakers at WTF Summit include (arranged in no particular order):

Frans Wiwanto, Managing Director, APAC, FlywireDavid Song, Head of Digital Business Unit, Green Link Digital BankJoseph Gan, CEO, V-KeyAnson Zeall, Founder, Azentiq NexusDesmond Yong, Founder, Meta Alpha, and Legal & Compliance DirectorEelee Lua, Co-founder & COO, DefySteve Craig, Founder & CEO, PEAK IDVAnnette Lu, Head of Compliance, APAC, Hex Trust

Speaker nomination is now open and available here.

In-depth Agenda Addressing Modern Fraud Challenges 

The WTF Summit is designed to deep dive into modern fraud challenges through a mix of keynote sessions, panel discussions, hands-on workshops and networking opportunities.

At the Main Summit (November 20), attendees can look forward to sessions that provide practical takeaways focused on four key topics:

AI & Fraud: How emerging AI-driven fraud schemes are evolving and what proactive defenses businesses need to stay ahead;Digital Identity: Best practices from various industries in securing digital identity while ensuring accessibility and compliance;Compliance: The shifting regulatory landscape, including fraud and compliance trends, risk intelligence, and fraud detection;Crypto: Addressing cross-border challenges, tokenization, and regulatory shifts in the digital asset space.

In addition, Sumsub will offer expert-led workshops with certifications on the day before the Main Summit (November 19). The workshops will be in three specialized modules, which are related to modern scams and deepfakes, smart and compliant onboarding, as well as AML investigations and case management respectively.

The workshop series is proven to equip participants with hands-on experience and practical training, as Sumsub has already successfully conducted similar workshops for INTERPOL and other organizations.

Limited Early Bird Ticket Offer Opens Now

Tickets to WTF Summit can be purchased at the official website: https://sumsub.com/wtf-summit/. The first 100 tickets can enjoy an early-bird discounted offer.

Follow the official LinkedIn page of WTF Summit for the latest updates.

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About Sumsub

Sumsub is a full-cycle verification and ongoing monitoring platform that secures the whole user journey. With Sumsub’s customizable KYC, KYB, Transaction Monitoring, Fraud Prevention and Travel Rule solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect your business.

Sumsub has over 4,000 clients across the fintech, crypto, transportation, trading, edtech, e-commerce and gaming industries including Duolingo, Bitpanda, Wirex, Avis, Bybit, Vodafone, Kaizen Gaming, and TransferGo.

 

 

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SOURCE Sumsub

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