Powerbridge Technologies Co., Ltd. has received a notification from Nasdaq regarding a deficiency in meeting the minimum bid price requirement. The company's stock has been trading below the required $1.00 minimum bid price for the last 30 consecutive business days. Powerbridge Technologies is required to regain compliance within 180 calendar days, or by September 12, 2023. If the company does not achieve compliance by this deadline, it may be eligible for an additional 180-day grace period if it meets all other listing requirements. The company intends to monitor the bid price for its common shares and may, if appropriate, consider implementing available options to regain compliance.