Intelligent Living Application Group Inc. Granted Extension to Meet Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

Intelligent Living Application Group (NASDAQ: ILAG), a Hong Kong-based lockset manufacturer, has received a 180-day extension until January 19, 2026 from Nasdaq to regain compliance with the $1.00 minimum bid price requirement. The extension was granted as ILAG meets all other Nasdaq Capital Market listing requirements except the bid price.

The company must achieve a closing bid price of at least $1.00 for 10 consecutive business days to maintain its listing. ILAG plans to consider various options, including a potential reverse stock split, to meet this requirement. Trading continues normally under "ILAG" during this period.

Positive

• Company granted additional 180 days to meet Nasdaq requirements
• ILAG meets all other Nasdaq Capital Market listing requirements
• Trading continues normally on Nasdaq during compliance period

Negative

• Risk of delisting if $1.00 minimum bid price not achieved by January 19, 2026
• Potential reverse stock split may be necessary to maintain listing
• Current stock price remains below $1.00 minimum requirement

News Market Reaction

+0.74%

1 alert

+0.74% News Effect

On the day this news was published, ILAG gained 0.74%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HONG KONG, July 24, 2025 /PRNewswire/ -- Intelligent Living Application Group Inc. (NASDAQ: ILAG) ("Intelligent Living" or the "Company"), a premium lockset manufacturer in Hong Kong, announced today that, on July 23, 2025, the Company received a written notification from the NASDAQ Stock Market Listing Qualifications Staff (the "Staff") indicating that the Company has been granted an additional 180 calendar day period or until January 19, 2026, to regain compliance with the $1.00 minimum closing bid price requirement for continued listing on the NASDAQ Capital Market pursuant to NASDAQ Listing Rule (the "Minimum Bid Price Requirement").

NASDAQ's determination was based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the NASDAQ Capital Market, with the exception of the bid price requirement, and the Company's written notice to NASDAQ of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If at any time during this additional time period the closing bid price of the Company's security is at least $1.00 per share for a minimum of 10 consecutive business days, NASDAQ will provide written confirmation of compliance and this matter will be closed. If compliance cannot be demonstrated by January 19, 2026, Staff will provide written notification that the Company's securities will be delisted. At that time, the Company may appeal the Staff's determination to a Hearings Panel (the "Panel") of NASDAQ.

This notification from Nasdaq has no immediate effect on the listing or trading of the Company's ordinary shares, which will continue to trade on the Nasdaq Capital Market under the symbol "ILAG". The Company will monitor the closing bid price of its ordinary shares and will consider various options to regain compliance before January 19, 2026.

About Intelligent Living Application Group Inc.

Intelligent Living Application Group Inc. is a premium lockset manufacturer and distributor headquartered in Hong Kong. Intelligent Living manufactures and sells high quality mechanical locksets to customers mainly in the United States and Canada and has continued to diversify and refine its product offerings in the past 40 years to meet its customers' needs. Intelligent Living obtained the ISO9001 quality assurance certificate and various accredited quality and safety certificates including American National Standards Institute (ANSI) Grade 2 and Grade 3 standards that are developed by the Builders Hardware Manufacturing Association (BHMA) for ANSI. Intelligent Living keeps investing in self-designed automated product lines, new craftsmanship, and developing new products, including smart locks. For more information, visit the Company's website at http://www.i-l-a-g.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties 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," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other 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, which are available for review at www.sec.gov.

For more information, please contact:

Intelligent Living Application Group, Inc.
Phone: +852 2481 7938
Email info@i-l-a-g.com

View original content:https://www.prnewswire.com/news-releases/intelligent-living-application-group-inc-granted-extension-to-meet-nasdaq-minimum-bid-price-requirement-302512982.html

SOURCE Intelligent Living Application Group Inc.

FAQ

When is ILAG's deadline to meet Nasdaq's minimum bid price requirement?

ILAG has until January 19, 2026 to meet Nasdaq's $1.00 minimum bid price requirement.

What happens if ILAG fails to meet Nasdaq's minimum bid price requirement by the deadline?

If ILAG fails to comply by January 19, 2026, it will receive a delisting notification, though it can appeal to Nasdaq's Hearings Panel.

What options does ILAG have to maintain its Nasdaq listing?

ILAG can either achieve a natural stock price increase above $1.00 for 10 consecutive business days or implement a reverse stock split to meet the requirement.

Is ILAG stock still trading on Nasdaq during this compliance period?

Yes, ILAG continues to trade normally on the Nasdaq Capital Market under the symbol 'ILAG' during this period.

What requirements does ILAG need to meet to maintain Nasdaq listing?

ILAG must achieve a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days to maintain its Nasdaq listing.