QKL Stores Regains Compliance with NASDAQ Minimum Bid Price Requirement

QKL Stores Inc.QKLS today announced that on June 26, 2012, China time, it received a letter from The NASDAQ Stock Market LLC ("NASDAQ") notifying the Company that it has regained compliance with the minimum bid price requirement for continued listing set forth in NASDAQ Listing Rule 5550(a)(2), as its common stock has achieved a closing bid price of $1.00 or more for 10 consecutive business days. On December 28, 2011, NASDAQ Staff notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market. The Staff also notified the Company that it had been granted a grace period of 180 calendar days in which to regain compliance. In the letter dated June 26, 2012, the Staff informed the Company that it had determined that for the last 10 consecutive business days, from June 12, 2012 to June 25, 2012, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with NASDAQ Listing Rules 5550(a)(2) and this matter is now closed.