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Benzinga
Benzinga
Business
Akanksha Bakshi

Guardforce AI Extends Contract With GSB In Thailand; Receives NASDAQ Non-Compliance Notice

Nasdaq Guardforce AI Thailand Government Savings Bank
  • Guardforce AI Co Ltd's (NASDAQ:GFAI) (NASDAQ:GFAIW) secured logistic subsidiary Guardforce Cash Solutions Security (Thailand) Company Limited (GFCS) has extended its contract as the ATM service provider for Government Savings Bank in Thailand.
  • The three-year contract begins on June 1, 2022, and is valued at about $19.5 million.
  •  GFCS will service about 4,000 machines across Thailand and provide a full suite of ATM services, including replenishment, maintenance, and cleaning, under the agreement terms.
  • Additionally, Guardforce AI received a notification letter from the NASDAQ dated May 27, 2022, notifying GFAI that it does not comply with the minimum bid price requirement.
  • GFAI has until November 23, 2022, to regain compliance.
  • Price Action: GFAI shares are trading higher by 4.78% at $0.60 on the last check Tuesday.
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