Fitell Corporation Announces Completion of Redomiciliation to the British Virgin Islands

Core Viewpoint - Fitell Corporation has successfully completed its redomiciliation from the Cayman Islands to the British Virgin Islands, which is expected to streamline operations and reduce costs for the company and its investors [1][3]. Group 1: Redomiciliation Details - The redomiciliation was approved by shareholders on December 12, 2025, and was completed after trading on the Nasdaq Capital Market on March 6, 2026 [1][2]. - All issued and outstanding ordinary shares of Fitell were exchanged on a one-for-one basis for newly issued shares of the BVI Company, with the class A ordinary shares continuing to trade under the symbol "FTEL" [2]. Group 2: Company Overview - Fitell Corporation, through its subsidiary GD Wellness Pty Ltd, operates as 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 coming 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].