Nova LifeStyle Reschedules Fourth Quarter and Year

LOS ANGELES, April 12, 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 the Company is expected to file its Annual Report on Form 10-K for the year ended December 31, 2016 ("Form 10-K") as soon as possible but no later than the fifteenth calendar day following the due date as available to the Company from the extension (April 17, 2017).  

The Company needed additional time to prepare its annual report on Form 10-K in relation to the Company’s sale of China based assets in 2016, but does not anticipate any material changes on its operating results for the fourth quarter and year ended December 31, 2016.  The audit is substantially completed but the auditor requires additional time to complete their final review procedures and deliver their audit opinion.

The Company expects to issue the press release announcing these results concurrent to the filing of the Form 10-K.

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 transaction 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