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

  • Guardforce AI Co Ltd's GFAI 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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