Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 45

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 3
Chunk 45
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 Staff (the “ Staff”) of The NASDAQ Stock Market LLC (“ Nasdaq”) notifying
the Company that the minimum bid price per share for its common shares has been below $1.00 for a period of over 30 consecutive business
days and the Company therefore no longer meets the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2) (the “ Deficiency”).

Under the Nasdaq Listing Rules,
the Company had until October 7, 2024 to cure the Deficiency and the Company has received an extension of another 180 calendar days, until
April 7, 2025, from Nasdaq, to regain compliance with the Nasdaq Listing Rule 5550(a)(2), provided that the Company’s ordinary shares
must have a closing bid price of at least US$1.00 for a minimum of 10 consecutive trading days.

If the Company fails to regain
compliance with the minimum bid price requirements or any other listing rules when required in the future, we could be subject to suspension
and delisting proceedings. There can be no assurance that our Ordinary Shares will be eligible for trading on any such alternative exchanges
or markets in the United States. If Nasdaq determines to delist our ordinary shares, or if we fail to list our Ordinary Shares on other
stock exchanges or find alternative trading venue for our Ordinary Shares, the market liquidity and the price of our Ordinary Shares and
our ability to obtain financing for our operations could be materially and adversely affected.

We may need to finance our future cash needs
through public or private equity offerings and debt financings. Any additional funds that we obtain may adversely impact the market price
of our Ordinary Shares.

We may need to raise additional
funds to pay outstanding vendor invoices, meet operating expenses and execute our business plan, including any expansion plans. Our future
cash flows depend on our ability to market and sell our common shares, and our ability to continue to cut expenses to reach net even or
positive cashflows from operations. There can be no assurance that we will have sufficient funds to execute our business plan or complete
a strategic transaction, or that additional funds will be available when needed from any source or, if available, will be available on
terms that are acceptable to us.

For the foreseeable future,
we may have to fund a portion of our operations and capital expenditures from cash on hand, public or private equity offerings, debt financings,
bank credit facilities, other borrowings (including borrowings from our