Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
October 20 2023 - 5:00PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2023
Commission File Number: 001-41444
Intelligent
Living Application Group Inc.
Unit 2, 5/F, Block A, Profit Industrial Building
1-15 Kwai Fung Crescent, Kwai Chung
New Territories, Hong Kong
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F:
Form 20-F x Form 40-F
¨
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
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Intelligent Living Application Group Inc. |
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Date: October 20, 2023 |
By: |
/s/ Bong Lau |
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Name: |
Bong Lau |
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Title: |
Chief Executive Officer |
Exhibit Index
Exhibit 99.1
Intelligent Living Application Group Inc. Announces
Receipt of Nasdaq Notification Regarding
Minimum Bid Price Deficiency
HONG KONG, October 20, 2023 -- Intelligent
Living Application Group Inc. (NASDAQ: ILAG) ("Intelligent Living" or the "Company"), a premium lockset manufacturer
in Hong Kong, announced today that, on October 19, 2023, the Company received a letter from the Nasdaq Stock Market (“Nasdaq”)
notifying the Company that, because the closing bid price for the Company’s ordinary shares listed on Nasdaq was below $1.00 for
30 consecutive trading days, the Company no longer meets the minimum bid price requirement for continued listing on Nasdaq under Nasdaq
Marketplace Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”).
The notification has no immediate effect on the
listing of the Company’s ordinary shares. In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has a period of
180 calendar days from the date of notification, until April 16, 2024 (the “Compliance Period”), to regain compliance with
the Minimum Bid Price Requirement. If at any time before the expiration of the Compliance Period the bid price of
the Company’s ordinary shares closes at least $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide
written notification that the Company has achieved compliance with the Minimum Bid Price Requirement. If the Company does not
regain compliance by the end of the Compliance Period, the Company may be eligible for an additional 180 calendar day period to regain
compliance. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares
and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need
to provide written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split,
if necessary. If the Company meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar
days. However, if it appears to Nasdaq that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible,
Nasdaq will provide notice that the Company’s securities will be subject to delisting.
The Company intends to
continue actively monitoring the bid price for its ordinary shares between now and the expiration of the Compliance Period and will consider
all available options to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement.
About Intelligent Living Application Group
Inc.
Intelligent Living Application Group Inc. ("ILAG")
is a premium lockset manufacturer headquartered in Hong Kong. It manufactures and sells high quality mechanical locksets to customers
mainly in the United States and Canada and has continued to diversify and refine its product offerings in the past 40 years to meet its
customers' needs. ILAG has obtained the ISO9001 quality assurance certificate and various accredited quality and safety certificates
including American National Standards Institute (ANSI) Grade 2 and Grade 3 standards that are developed by the Builders Hardware Manufacturing
Association (BHMA) for ANSI. ILAG keeps investing in self-designed automated product lines, new craftsmanship and developing new products
including smart locks. For more information, visit the Company's website at http://www.i-l-a-g.com/.
Forward-Looking Statements
Certain statements in this announcement are
forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties 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," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "is/are likely to," "potential," "continue" or other 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, which
are available for review at www.sec.gov.
For more information, please contact:
Intelligent Living Application Group, Inc.
Phone: +852 2481 7938
Email info@i-l-a-g.com
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