Nova LifeStyle Regains Compliance with Nasdaq’s Minimum Bid Price Rule
22 September 2016 - 1:45PM
Nova LifeStyle, Inc. (NASDAQ:NVFY) (“Nova
LifeStyle” or the “Company”), a U.S.-based, leading innovative
designer, manufacturer and distributor of modern life style
furniture, today announced that it has received a letter from the
NASDAQ Stock Market (“NASDAQ”), indicating that Nova LifeStyle has
regained compliance with the $1.00 per share minimum closing bid
price requirement for continued listing on the Nasdaq Stock Market,
pursuant to the NASDAQ marketplace rules.
NASDAQ indicated within its letter that since
the Company has regained compliance with Listing Rule 5450(a)(1),
or the Minimum Bid Price Rule, this matter is now closed.
About Nova LifeStyleNova
LifeStyle, Inc., a NASDAQ Global Markets Exchange listed company
headquartered in California, is a fast growing, innovative
designer, manufacturer and distributor of modern LifeStyle
furniture; primarily sofas, dining rooms, cabinets, office
furniture and related components, bedrooms, and various accessories
in matching collections. Nova's products are made in the US,
Europe, and Asia and include LifeStyle brands such as Diamond Sofa,
Colorful World, Giorgio Mobili, Nova QwiK, and Bright Swallow
International. Nova's products feature urban contemporary styles
that integrate comfort and functionality incorporating upscale
luxury designs appealing to LifeStyle-conscious middle and upper
middle-income consumers in the U.S., China, Europe, and elsewhere
in the world. To learn more about Nova LifeStyle, Inc., please
visit our website at www.NovaLifeStyle.com.
Safe Harbor StatementAll
statements in this press release that are not historical are
forward-looking statements made pursuant to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
There can be no assurance that actual results will not differ from
the Company's expectations. You are cautioned not to place undue
reliance on any forward-looking statements in this press release as
they reflect Nova's current expectations with respect to future
events and are subject to risks and uncertainties that may cause
actual results to differ materially from those contemplated.
Potential risks and uncertainties include, but are not limited to,
the risks described in Nova's filings with the Securities and
Exchange Commission.
Company Contact:
INVESTOR RELATIONS:
The Equity Group Inc.
In U.S.
Adam Prior, Senior Vice President
+1 (212) 836-9606
aprior@equityny.com
In China
Katherine Yao, Senior Associate
+86-10-6587-6435
kyao@equityny.com
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