Nova LifeStyle Announces Record Paying Sign-Ups Co

LOS ANGELES, Feb. 23, 2017 (GLOBE NEWSWIRE) -- Nova LifeStyle, Inc.  (NASDAQ: NVFY ) or (the “Company”), a U.S. based fast-growing, innovative provider of modern lifestyle products and services today announced that during the month of February, over 1,000 customers and student members have paid for and completed training on the Company’s site, "Nova- Mart," ( www.nova-mart.com ) an online transactional platform for consumers and merchants to offer products and business services worldwide based on Blockchain technology.

The Company anticipates paid business services and training to be a significant source of revenue and net income for Nova in the future. As previously announced, Nova is in discussion to acquire a two-million-member customer database from a highly profitable e-commerce website, which could also help the Company gain additional paid sign-ups.

Tawny Lam, President and Interim CEO of Nova LifeStyle commented, “We have seen a tremendous response rate on our recently-formed Blockchain technology-based site Nova-Mart, as customers and student members continue to sign up for training. We anticipate this trend to continue if we can successfully complete the purchase of the database from weilai178.com as planned."

NVFY's Future Tech Business School in Hong Kong is now fully operational and offers professional network training courses of Crypto-Assets Blockchain Adoption Application to a growing list of existing and new paying customers and student members. The Company has a goal of registering more than 5,000 members per month for its business training platform in the future.

About Nova LifeStyle Nova LifeStyle, Inc., a NASDAQ Global Market listed company headquartered in California, is a fast growing, innovative designer, manufacturer and distributor of modern LifeStyle furniture; primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Nova LifeStyle also owns and operates Nova-Mart, www.nova-mart.com , a Blockchain technology based e-commerce platform that offers a large variety of products and services to millions of customers worldwide. Visit Nova's website: www.NovaLifeStyle.com .

Safe Harbor Statement All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Nova's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Nova's filings with the Securities and Exchange Commission.

Company Contact: Investor Relations: The Equity Group Inc. In U.S. Adam Prior, Senior Vice President +1 (212) 836-9606 aprior@equityny.com In China Katherine Yao, Senior Associate +86-10-6587-6435 kyao@equityny.com