Vestand Receives Nasdaq Staff Determination Notification Regarding Late 10-Q and 10-K Filings and Continued Listing Requirements

Vestand has been informed by Nasdaq that the company is not in compliance with listing requirements due to its delay in filing the 10-Q and 10-K reports. The notification serves as a determination by Nasdaq's staff in this matter. Vestand has not submitted these required filings on time and may face potential delisting if the issue is not resolved promptly. The company must address this non-compliance issue and submit the necessary reports to regain compliance with Nasdaq regulations. The specific deadlines and further consequences of this notification have not been disclosed.