Nova LifeStyle issues 3.3M shares for $4.6M inventory; Nasdaq extension granted

XMax Inc.

Entered five purchase orders totaling $4.6M for furniture products from five sellers.
Payment via 3,321,429 shares of common stock at $1.40 per share, issued under Regulation S.
Nasdaq granted extension until October 14, 2024 to regain stockholders' equity compliance.
Company believes it has regained compliance based on this transaction; Nasdaq will monitor.
Shares are restricted and may not be sold for required holding period under Regulation S.

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