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Fitell Corporation Receives 180-Day Extension to Regain Compliance with Nasdaq Minimum Bid Price Requirement
Sydney, Australia, Oct. 03, 2025 (GLOBE NEWSWIRE) -- Fitell Corporation (NASDAQ: FTEL) (“F...
About this update from First Tellurium Corp
[{"type":"text","content":"Fitell Corporation Receives 180-Day Extension to Regain Compliance with Nasdaq Minimum Bid Price Requirement\n\n\n\n Sydney, Australia, Oct. 03, 2025 (GLOBE NEWSWIRE) -- Fitell Corporation (NASDAQ: FTEL) (“Fitell” or the “Company”) today announced that it has received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) granting the Company an additional 180-calendar-day compliance period, or until March 30, 2026, to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).\n \n\n The additional compliance period is granted based on the Company's compliance of the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market, except for the bid price requirement, and providing written notice of its intention to cure the deficiency.\n \n\n To regain compliance, the Company’s class A ordinary shares implemented a share consolidation at a ratio of 1-for-16, effective on September 23, 2025. This share consolidation is a strategic move to stabilize the stock price and improve the Company's standing on the Nasdaq Capital Market. By implementing this share consolidation, Fitell aims to enhance its stock’s appeal to investors and ensure compliance with Nasdaq's continued listing requirements. Further, this move is crucial for Fitell to maintain its listing on the Nasdaq Capital Market, and continue its operations effectively and strategically.\n \n\n\n\n About Fitell Corporation\n \n\n\n\n\n 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’...