Fitell Corporation announced on October 3, 2025, that it received a notification from The Nasdaq Stock Market LLC granting an additional 180-calendar-day compliance period. This extension, until March 30, 2026, is to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).
The extension was granted based on the company's compliance with the continued listing requirement for market value of publicly held shares and other applicable initial listing standards, excluding the bid price. Fitell also provided written notice of its intention to cure the deficiency.
The company's class A ordinary shares implemented a 1-for-16 share consolidation, effective September 23, 2025, as a strategic move to stabilize the stock price and improve its standing on the Nasdaq Capital Market. This extension is crucial for Fitell to maintain its Nasdaq listing and continue its operations effectively.
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