Fitell Corporation Regains Compliance with Nasdaq Minimum Bid Price Rule

Rhea-AI Summary

Fitell Corporation (NASDAQ: FTEL) announced it has regained compliance with Nasdaq Listing Rule 5550(a)(2) after maintaining a closing bid price of at least $1.00 per share for 16 consecutive business days from September 23, 2025 to October 14, 2025. Nasdaq notified the company on October 15, 2025 that the matter is closed.

Fitell operates through its wholly owned subsidiary GD Wellness, selling gym and fitness equipment under three proprietary brands—Muscle Motion, Rapid Motion, FleetX—across more than 2,000 SKUs and serving over 100,000 customers.

Positive

• Maintained closing bid ≥ $1.00 for 16 consecutive business days (Sep 23–Oct 14, 2025)
• Nasdaq confirmed the compliance matter closed on October 15, 2025
• Served over 100,000 customers
• Product portfolio exceeds 2,000 SKUs across three proprietary brands

Negative

• None.

Insights

Listed Compliance Analyst

Fitell regained Nasdaq minimum bid compliance after maintaining a closing bid at or above $1.00 for 16 consecutive business days.

Fitell received written confirmation from Nasdaq that it satisfied the minimum bid price requirement in Nasdaq Listing Rule 5550(a)(2) by maintaining a closing bid of at least $1.00 from September 23, 2025 through October 14, 2025, and Nasdaq has closed the matter as of October 15, 2025. This restores compliance with the specific listing rule and removes the immediate procedural risk of delisting tied to that minimum bid-price deficiency.

The requirement that triggered the notice was explicit: maintain a closing bid at or above $1.00 for at least 10 consecutive business days; Fitell exceeded that minimum with 16 days. The primary near-term dependency is continued market pricing at or above that threshold; failure to maintain the closing bid could again create noncompliance under the same rule and invite further Nasdaq action. Also relevant are public filings referenced in the release, including the company’s registration statement and SEC filings, which remain channels for material disclosures.

Watch whether the closing bid stays at or above $1.00 in the days following October 14, 2025 and any subsequent Nasdaq notices or SEC filings that update listing status or material financial information. These items provide the clearest, monitorable signals in the immediate term and will determine whether the company sustains its regained compliance.

Taren Point, Australia, Oct. 16, 2025 (GLOBE NEWSWIRE) -- Fitell Corporation (NASDAQ: FTEL) (“Fitell” or the “Company”), a global provider of fitness equipment and health solutions, today announced that on October 15, 2025, it received a written notification from The Nasdaq Stock Market LLC that the Company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).

To regain compliance with the minimum bid price requirement, the Company were required to maintain a closing bid price of its Class A ordinary shares at or above $1.00 per share for at least 10 consecutive business days. Nasdaq’s notice confirmed that Fitell maintained a closing bid price of at least $1.00 for 16 consecutive business days from September 23, 2025 to October 14, 2025. Accordingly, Nasdaq has determined that the matter is now closed.

About Fitell Corporation

Fitell Corporation, through GD Wellness Pty Ltd (“GD”), its wholly owned subsidiary, is an online retailer of gym and fitness equipment both under its proprietary brands and other brand names in Australia. The company’s mission is to build an ecosystem with a whole fitness and wellness experience powered by technology to our customers. GD has served over 100,000 customers with large portions of sales from repeat customers over the years. The Company’s brand portfolio can be categorized into three proprietary brands under its Gym Direct brand: Muscle Motion, Rapid Motion, and FleetX, in over 2,000 stock-keeping units (SKUs). For additional information, please visit the Company’s website at www.fitellcorp.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including market and other conditions, and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For more information, please contact:

Chief Financial Officer
Edwin Tam
edwin@gymdirect.com.au

Investor Relations
ir@fitellcorp.com

FAQ

What did Fitell (FTEL) announce on October 16, 2025 about Nasdaq compliance?

Fitell said Nasdaq confirmed it regained compliance with the minimum bid price rule after maintaining a closing bid ≥ $1.00 for 16 consecutive business days.

How long did FTEL need to keep its share price at or above $1.00 to regain Nasdaq compliance?

The requirement was to maintain a closing bid of at least $1.00 for at least 10 consecutive business days; Fitell recorded 16 consecutive business days.

When did Nasdaq confirm FTEL's compliance was restored?

Nasdaq's written notification confirming the matter closed was received on October 15, 2025.

Does the FTEL press release state Fitell's core business and scale?

Yes; Fitell, via GD Wellness, sells gym equipment under three brands with over 2,000 SKUs and has served more than 100,000 customers.

Will regaining Nasdaq compliance prevent future listing risks for FTEL?

The announcement confirms current compliance but does not provide guarantees against future listing risks or price volatility.