#NASDAQ #Hong Kong #Intelligent Living #ILAG

Intelligent Living Application Group Inc. Faces Nasdaq Compliance Challenge

On January 23, 2025, Intelligent Living Application Group Inc., a premium lockset manufacturer based in Hong Kong, was notified by the Nasdaq Stock Market about a significant compliance issue concerning its stock price. The notification indicated that the company's ordinary shares had closed below the minimum required bid price of $1.00 per share for 30 consecutive trading days. This situation places the company in a delicate position regarding its continued listing on the exchange.

The Nasdaq Marketplace Rule 5550(a)(2) stipulates that companies must maintain a minimum bid price of $1.00 to ensure their shares remain listed. While receiving this notification, it is crucial to note that there are no immediate repercussions for the company’s existing listing status. They have until July 22, 2025, which is the specified compliance period, to rectify this deficiency and regain compliance with the Nasdaq's requirements.

If Intelligent Living can boost its stock price to $1.00 or more for at least ten consecutive trading days before the compliance period expires, Nasdaq will send written confirmation of the company's compliance, allowing them to continue their trading without interruption. However, should the company fail to meet these conditions by the deadline, they may have another opportunity to regain compliance, provided they adhere to certain conditions, including possibly implementing a reverse stock split if needed.

Intelligent Living is determined to monitor the bid price for its ordinary shares closely throughout the compliance period. The company is considering various strategies to address this deficiency and improve its stock price. This critical period will test the company's resilience and commitment to meeting Nasdaq's stringent requirements while maintaining their market presence.

About Intelligent Living

Intelligent Living Application Group Inc. specializes in manufacturing and distributing high-quality locksets, primarily to customers in the United States and Canada. With over 40 years of experience in the industry, the company has continuously diversified its product line to satisfy the evolving demands of its clients. In addition to obtaining the ISO9001 quality assurance certificate, they hold various safety certifications, including ANSI Grade 2 and Grade 3 standards, ensuring their products meet high-quality expectations.

The company is also known for investing in new technologies, including automated production lines, innovative craftsmanship, and the development of smart locks. These advances demonstrate a commitment to industry leadership and a dedication to providing superior products to their customers.

In conclusion, while Intelligent Living Application Group Inc. faces a compliance challenge with Nasdaq, they remain optimistic about regaining compliance within the stipulated timeline. With careful monitoring and strategic efforts, they hope to overcome this hurdle and continue their long-standing tradition of quality and innovation in the lockset manufacturing industry.