Fitell Corporation Receives 180-Day Extension to Regain Compliance with Nasdaq Minimum Bid Price Requirement

Core Points - Fitell Corporation has received a 180-calendar-day compliance period from Nasdaq to regain compliance with the minimum bid price requirement, extending the deadline to March 30, 2026 [1][2] - The company has complied with other continued listing requirements, except for the bid price requirement, and has notified Nasdaq of its intention to address this deficiency [2] - To regain compliance, Fitell implemented a share consolidation at a ratio of 1-for-16 effective September 23, 2025, aimed at stabilizing the stock price and improving its standing on the Nasdaq Capital Market [3] Company Overview - Fitell Corporation, through its subsidiary GD Wellness Pty Ltd, is an online retailer of gym and fitness equipment in Australia, offering products under proprietary and other brand names [4] - The company aims to create a comprehensive fitness and wellness ecosystem powered by technology, having served over 100,000 customers with a significant portion of sales from repeat customers [4] - Fitell's brand portfolio includes three proprietary brands under Gym Direct: Muscle Motion, Rapid Motion, and FleetX, with over 2,000 stock-keeping units (SKUs) [4]