Nova LifeStyle issues 3.32M shares for $4.6M inventory; regains Nasdaq equity compliance

XMax Inc.

Five purchase orders for furniture products totaling $4,600,000 paid via 3,321,429 shares at $1.40/share.
Sellers include Iconic Tech, Onefull Technologies, Skyvip, United Poles, and Teclutions.
Nasdaq granted extension to Oct 14, 2024; company believes transaction restores $2.5M equity requirement.
Shares are restricted under Regulation S and cannot be resold during required holding period.
Company warns continued compliance subject to Nasdaq monitoring; delisting risk remains if not sustained.

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