XMax Inc. (XWIN): Nasdaq/NYSE listing notice — Nova LifeStyle receives Nasdaq non-compliance notice for bid price below $1.00

XMax Inc.

Nasdaq notified the Company on Dec 27, 2024 that bid price was below $1.00 for 30 consecutive trading days.
The Company has 180 calendar days, until June 25, 2025, to regain compliance with the Minimum Bid Price Requirement.
Compliance can be achieved if bid price closes at or above $1.00 for 10 consecutive business days within the period.
If not cured, the Company may be eligible for an additional 180-day period, subject to meeting other listing standards and possibly a reverse stock split.
The Company intends to monitor its bid price and consider all available options to regain compliance.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

XMax Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

December 27, 2024, Nova LifeStyle, Inc. (the “Company”) received a letter from the Nasdaq Stock Market (“Nasdaq”) notifying the Company that, because the closing bid price for the Company’s common stock listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Company no longer meets the minimum bid price requirement for continued listing on Nasdaq under Nasdaq Marketplace Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”). The notification has no immediate effect on the listing of the Company’s common stock. In accordance w

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Source: SEC EDGAR

accession 0001493152-24-052718

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