Intelligent Living Application Group receives non-compliance letter from Nasdaq

Intelligent Living Application Group (ILAG) announced that, on January 23, the Company received a letter from the Nasdaq Stock Market notifying the Company that, because the closing bid price for the Company’s ordinary shares 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, which requires a minimum bid price of $1.00 per share. The notification has no immediate effect on the listing of the Company’s ordinary shares. In accordance with Nasdaq Marketplace Rule 5810, the Company has a period of 180 calendar days from the date of notification, until July 22 to regain compliance with the Minimum Bid Price Requirement. If at any time before the expiration of the Compliance Period the bid price of the Company’s ordinary shares closes at least $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance