Fitell Corporation Regains Compliance with Nasdaq Minimum Bid Price Rule
Taren Point, Australia, Oct. 16, 2025 (GLOBE NEWSWIRE) -- Fitell Corporation (NASDAQ:FTEL) ("Fitell" or the "Company"), a global provider of fitness equipment and health solutions, today announced that on October 15, 2025, it received a written notification from The Nasdaq Stock Market LLC that the Company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).
To regain compliance with the minimum bid price requirement, the Company were required to maintain a closing bid price of its Class A ordinary shares at or above $1.00 per share for at least 10 consecutive business days. Nasdaq's notice confirmed that Fitell maintained a closing bid price of at least $1.00 for 16 consecutive business days from September 23, 2025 to October 14, 2025. Accordingly, Nasdaq has determined that the matter is now closed.
About Fitell Corporation
Fitell Corporation, through GD Wellness Pty Ltd ("GD"), its wholly owned subsidiary, is an online retailer of gym and fitness equipment both under its proprietary brands and other brand names in Australia. The company's mission is to build an ecosystem with a whole fitness and wellness experience powered by technology to our customers. GD has served over 100,000 customers with large portions of sales from repeat customers over the years. The Company's brand portfolio can be categorized into three proprietary brands under its Gym Direct brand: Muscle Motion, Rapid Motion, and FleetX, in over 2,000 stock-keeping units (SKUs). For additional information, please visit the Company's website at www.fitellcorp.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including market and other conditions, and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
For more information, please contact:
Chief Financial Officer
Edwin Tam
[email protected]
Investor Relations
[email protected]
