Intelligent Living Application Group Inc. Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

Core Viewpoint - Intelligent Living Application Group Inc. has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement due to its ordinary shares closing below $1.00 for 30 consecutive trading days [1][2]. Group 1: Nasdaq Notification and Compliance - The notification does not have an immediate effect on the listing of the Company's ordinary shares [2]. - The Company has a Compliance Period of 180 calendar days, until July 22, 2025, to regain compliance with the Minimum Bid Price Requirement [2]. - If the bid price closes at least $1.00 for 10 consecutive business days before the Compliance Period ends, Nasdaq will confirm compliance [2]. - If compliance is not regained by the end of the Compliance Period, the Company may be eligible for an additional 180-day period, provided it meets other listing requirements [2]. Group 2: Company Actions and Monitoring - The Company intends to actively monitor the bid price of its ordinary shares during the Compliance Period and will explore all options to resolve the deficiency [3]. Group 3: Company Overview - Intelligent Living Application Group Inc. is a premium lockset manufacturer based in Hong Kong, primarily serving customers in the United States and Canada [4]. - The Company has been diversifying its product offerings for 40 years and holds various quality assurance certifications, including ISO9001 and ANSI Grade 2 and Grade 3 standards [4]. - Intelligent Living continues to invest in automated product lines and the development of new products, including smart locks [4].