Intelligent Living Application Group Inc. Announces 1-for-10 Share Consolidation (Reverse Stock Split)

Core Viewpoint - Intelligent Living Application Group Inc. has announced a share consolidation/reverse stock split to comply with Nasdaq Marketplace Rule 5550(a)(2) regarding minimum bid price requirements for its ordinary shares [2][4]. Group 1: Share Consolidation Details - The extraordinary general meeting held on December 15, 2025, resulted in shareholder approval for a share consolidation with a maximum ratio of 1:200 [1]. - The Board determined the consolidation ratio to be 1-for-10, effective December 30, 2025, with the new CUSIP number for the ordinary shares being G4804S119 [2]. - The pre-split number of ordinary shares is 20,769,483, which will reduce to approximately 2,077,448 post-split, with a par value increase from $0.0001 to $0.001 [2]. Group 2: Preferred Shares Impact - The pre-split number of Series A preferred shares is 2,000,000, which will reduce to approximately 200,000 post-split, with a par value increase from $0.0001 to $0.001 [3]. - The pre-split number of Series B preferred shares is 10,000,000, which will reduce to approximately 1,000,000 post-split, with a par value increase from $0.0001 to $0.001 [3]. Group 3: Shareholder Rights and Actions - Shareholders will receive one post-consolidation share for every ten pre-consolidation shares held, with their percentage ownership and voting power remaining largely unchanged [4]. - Fractional shares will not be issued; instead, they will be rounded up in connection with the share consolidation [4]. - Shareholders holding shares in electronic form at brokerage firms will see the effects of the consolidation automatically reflected in their accounts [4]. Group 4: Company Overview - Intelligent Living Application Group Inc. is a premium lockset manufacturer and distributor based in Hong Kong, primarily serving customers in the United States and Canada [5]. - The company has been diversifying its product offerings for over 40 years and holds various quality assurance certifications, including ISO9001 and ANSI Grade 2 and 3 standards [5]. - Intelligent Living continues to invest in automated product lines and the development of new products, including smart locks [5].