Announcement • Mar 11
DRIVEiT Financial Auto Group, Inc cancelled the transaction to acquire Yotta Acquisition Corporation (NasdaqCM:YOTA) from Yotta Investment LLC and Hui Chen. DRIVEiT Financial Auto Group, Inc. executed the letter of intent to acquire Yotta Acquisition Corporation (NasdaqCM:YOTA) from Yotta Investment LLC and Hui Chen for approximately $110 million in a reverse merger transaction on May 20, 2024. DRIVEiT Financial Auto Group, Inc. entered into a definitive agreement to acquire Yotta Acquisition Corporation (NasdaqCM:YOTA) from Yotta Investment LLC and Hui Chen in a reverse merger transaction on August 20, 2024. The stockholders of DRIVEiT will receive an aggregate of 10,000,000 shares Yotta Acquisition, which, at an implied value of $10.00 per share, would represent $100 million in equity. DRIVEiT’s executive management team will continue to lead the combined company. Yotta will be renamed DRIVEiT Financial Auto Group, Inc.
The transaction is subject to the shareholders of Yotta and DRIVEiT. The transaction is subject to the approval of government authority, Listing of new shares on exchange, antitrust regulations and registration statement effectiveness. The transaction is unanimously approved by boards of directors of Yotta and DRIVEiT. The transaction is expected to complete in the first half of 2025.
Celine & Partners, PLLC acted as legal advisor to Yotta and will receive a fee of $267,000. Mitchell S. Nussbaum of Loeb & Loeb LLP acted as legal advisor to DRIVEiT. Yotta has engaged Advantage Proxy to assist in the solicitation of proxies for a fee of $12,500. Continental Stock Transfer & Trust Company is the transfer agent for shares of Yotta. EarlyBirdCapital acted as financial advisor and will receive a fee of one percent (1%) of the total consideration.
DRIVEiT Financial Auto Group, Inc cancelled the transaction to acquire Yotta Acquisition Corporation (NasdaqCM:YOTA) from Yotta Investment LLC and Hui Chen on March 4, 2026. Announcement • Nov 14
Yotta Acquisition Corporation announced delayed 10-Q filing On 11/13/2025, Yotta Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Sep 22
Yotta Acquisition Corporation, Annual General Meeting, Oct 15, 2025 Yotta Acquisition Corporation, Annual General Meeting, Oct 15, 2025. Location: telephone access (listen-only):, within the u.s. and canada:1 800-450-7155 tollfree, outside of the u.s. and canada: 1 857-999-9155, (standard rates apply), United States Announcement • Aug 14
Yotta Acquisition Corporation announced delayed 10-Q filing On 08/13/2025, Yotta Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Jul 14
The Nasdaq Stock Market to Delist the Common Stock of Yotta Acquisition The Nasdaq Stock Market announced that it will delist the common stock, rights, units, and warrants of Yotta Acquisition Corporation. Yotta Acquisition Corporation’s securities were suspended on April 28, 2025 and have not traded on Nasdaq since that time. Announcement • May 15
Yotta Acquisition Corporation announced delayed 10-Q filing On 05/14/2025, Yotta Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Apr 24
Yotta Acquisition Receives a Letter from the Listing Qualifications Department of the Nasdaq Stock Market On April 21, 2025, Yotta Acquisition Corporation received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) stating that (i) the Staff has determined that the Company’s securities will be delisted from the Nasdaq Stock Market; (ii) trading of the Company’s Common Stock, Units, Rights, and Warrants will be suspended at the opening of business on April 28, 2025; and (iii) a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Company’s securities from listing and registration on the Nasdaq Stock Market. Pursuant to Nasdaq Listing Rule IM-5101-2, a special purpose acquisition company must complete one or more business combinations within 36 months of the effectiveness of its IPO registration statement. Since the Company failed to complete its initial business combination by April 19, 2025, the Company did not comply with IM-5101-2, and its securities are now subject to delisting. Additionally, the Company has not paid certain fees required by Listing Rule 5250(f). Pursuant to Listing Rule 5810(d)(2), this deficiency serves as an additional and separate basis for delisting. The Company will not appeal Nasdaq’s determination to delist the Company’s securities and accordingly, the Company’s securities will be suspended from trading on Nasdaq at the opening of business on April 28, 2025. The Company intends to apply for the listing of its securities on the OTC market under the same ticker symbols after they are delisted from Nasdaq. The Company is working diligently to complete a business combination as soon as practicable. The Company will remain a reporting entity under the Securities Exchange Act of 1934, as amended, with respect to continued disclosure of financial and operational information. Board Change • Dec 13
High number of new directors Independent Director Qi Gong was the last director to join the board, commencing their role in 2024. Board Change • Aug 15
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. CEO & Director Hui Chen is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jul 26
Yotta Acquisition Corporation, Annual General Meeting, Aug 16, 2024 Yotta Acquisition Corporation, Annual General Meeting, Aug 16, 2024. Location: telephone access:, 1 800-450-7155, outside of the u.s. and canada:, 1 857-999-9195, meeting id: 0768323, United States Announcement • Jun 06
Yotta Acquisition Corporation Announces Receipt of Notice from Nasdaq Regarding Filing of Annual Report on Form 10-Q Yotta Acquisition Corporation (the "Company") announced that it has received a notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company has not yet filed its Form 10-Q for the period ended March 31, 2024, the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the "SEC"). This notification has no immediate effect on the listing of the Company's shares on Nasdaq. Subsequent to the receipt of the Notice, the Company filed the Form 10-Q on May 31, 2024. This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. Announcement • May 22
Yotta Acquisition Receives Written Notice from Nasdaq Regarding Non-Compliance with at Least 400 Public Holders On May 16, 2024, Yotta Acquisition Corporation (the ‘Company’) received a written notice (the ‘Notice’) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market (‘Nasdaq’) indicating that the Company was not in compliance with Listing Rule 5450(a)(2) (the ‘Minimum Public Holders Rule’), which requires the Company to have at least 400 public holders for continued listing on the Nasdaq Global Market (the ‘Minimum Public Holders Rule’). The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on Nasdaq Global Market. The Notice states that the Company has 45 calendar days to submit a plan to regain compliance with the Minimum Public Holders Rule. If the Company is unable to regain compliance by that date, the Company intends to submit a plan to regain compliance with the Minimum Public Holders Rule within the required timeframe. If Nasdaq accepts Company’s plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Notice to evidence compliance with the Minimum Public Holders Rule. If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel. Announcement • May 17
Yotta Acquisition Corporation announced delayed 10-Q filing On 05/15/2024, Yotta Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • May 11
Yotta Acquisition Receives Written Notice from Nasdaq Regarding Non-Compliance with Minimum Market Value of Publicly Held Securities Requirement of at Least $15 Million Under Nasdaq Listing Rule 5450(b)(2)(C) On May 7, 2024, Yotta Acquisition Corporation (the ‘Company’) received written notice (the ‘First Notice’) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’) stating that the Company is not in compliance with Nasdaq Listing Rule 5450(b)(2)(C) because the Company has not maintained a minimum Market Value of Publicly Held Securities (‘MVPHS’) of at least $15 million. The First Notice has no immediate effect on the listing or trading of the Company’s listed securities (the ‘Listed Securities’). The Company has 180 calendar days from the date of the First Notice, or until November 4, 2024, to regain compliance. If at any time during this 180 day period the MVPHS is at least $15 million for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance and this matter will be closed. Alternatively, the Company may consider applying for a transfer to the Nasdaq Capital Market (the ‘Capital Market’). In order to transfer, the Company must submit an on-line Transfer Application, pay a $5,000 fee and meet the Capital Market’s continued listing requirements. On the same date, the Company received written notice (the ‘Second Notice’) from Nasdaq stating that the Company is not in compliance with Nasdaq Listing Rule 5450(b) because the Company has not maintained a minimum 1,100,000 publicly held shares. The Second Notice has no immediate effect on the listing or trading of the Company’s listed securities (the ‘Listed Securities’). The Company has 45 calendar days to submit a plan to regain compliance. If the plan is accepted, Nasdaq will grant an extension of up to 180 calendar days from the date of the Second Notice, or until November 4, 2024, to regain compliance. Alternatively, the Company may consider applying for a transfer to the Capital Market. In order to transfer, the Company must submit an on-line Transfer Application, pay a $5,000 fee and meet the Capital Market’s continued listing requirements. If the Company does not regain compliance with the publicly held shares requirement within the compliance period, the Company’s Listed Securities will be subject to delisting. In the event the Company receives notice that the Company’s Listed Securities are being delisted, Nasdaq’s rules permit the Company to appeal the delisting determination by the Nasdaq staff to a hearings panel. Announcement • Apr 02
Yotta Acquisition Corporation announced delayed annual 10-K filing On 04/01/2024, Yotta Acquisition Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC. Board Change • Mar 19
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. CEO & Director Hui Chen is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Feb 24
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. CEO & Director Hui Chen is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Feb 17
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. CEO & Director Hui Chen is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jan 18
Yotta Acquisition Corporation Receives Non-Compliance Notice from Nasdaq On January 10, 2024, Yotta Acquisition Corporation (the Company") received written notice (the Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC (Nasdaq") stating that the Company is not in compliance with Nasdaq Listing Rule 5450(b)(2) (the Rule") because the Company has not maintained a minimum Market Value of Listed Securities (MVLS") of at least $50 million. The Notice has no immediate effect on the listing or trading of the Company's listed securities (the Listed Securities"). The Company has 180 calendar days from the date of the Notice, or until July 8, 2024, to regain compliance. If at any time during this 180 day period the MVLS is at least $50 million for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance and this matter will be closed. Alternatively, the Company may consider applying for a transfer to the Nasdaq Capital Market (the Capital Market"). In order to transfer, the Company must submit an on-line Transfer Application, pay a $5,000 fee and meet the Capital Market's continued listing requirements. If the Company does not regain compliance with the MVLS requirement within the compliance period, the Company's Listed Securities will be subject to delisting. In the event the Company receives notice that the Company's Listed Securities are being delisted, Nasdaq's rules permit the Company to appeal the delisting determination by the Nasdaq staff to a hearings panel. The Company intends to monitor the market value of the Company's Listed Securities and may, if appropriate, consider available options to regain compliance with the MVLS requirement. There can be no assurance that the Company will be able to regain compliance with the MVLS requirement. Announcement • Nov 18
Yotta Acquisition Corporation announced delayed 10-Q filing On 11/17/2023, Yotta Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • May 16
Yotta Acquisition Corporation announced delayed 10-Q filing On 05/15/2023, Yotta Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC.