Nova Lifestyle (NVFY) Announces Compliance with Nasdaq's Minimum Bid Price Rule

September 22, 2016 7:46 AM EDT

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Nova LifeStyle, Inc. (NASDAQ: NVFY) today announced that it has received a letter from the NASDAQ Stock Market (“NASDAQ”), indicating that Nova LifeStyle has regained compliance with the $1.00 per share minimum closing bid price requirement for continued listing on the Nasdaq Stock Market, pursuant to the NASDAQ marketplace rules.

NASDAQ indicated within its letter that since the Company has regained compliance with Listing Rule 5450(a)(1), or the Minimum Bid Price Rule, this matter is now closed.

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