Fitell Corporation announced on April 3, 2025, that it received a notification letter from The Nasdaq Stock Market LLC. The letter, dated April 2, 2025, informed the company that its ordinary shares had traded below the $1.00 minimum closing bid price for 30 consecutive business days.
This notification indicates non-compliance with Nasdaq Listing Rule 5550(a)(2). The company has been granted a compliance period of 180 calendar days, until September 29, 2025, to regain compliance with this requirement.
The notification does not immediately impact the listing or trading of Fitell's ordinary shares. The company stated its intention to monitor its share price and may consider implementing a reverse stock split as a potential measure to regain compliance.
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