InPlay Technologies Receives Nasdaq Letter Regarding Minimum Bid Price Requirement
14 Mayo 2008 - 3:12PM
Business Wire
InPlay Technologies (Nasdaq: NPLA) today announced that it received
notice from The Nasdaq Stock Market, LLC on May 12, 2008,
indicating that the bid price of its common stock has closed below
$1.00 per share for the last 30 consecutive business days and
therefore the Company is not in compliance with Marketplace Rule
4310(c)(4). This notice has no immediate effect on the Company�s
Nasdaq listing or trading of its common stock. In accordance with
Marketplace Rule 4310(c)(8)(D), the Company has 180 calendar days,
or until November 10, 2008, to regain compliance with the minimum
bid price requirement. In order to achieve compliance, the bid
price of the Company�s common stock must close at $1.00 per share
for a minimum of 10 consecutive business days. If the Company does
not regain compliance by November 10, 2008, but can demonstrate
that the Company meets all criteria (other than the bid price
requirement) for initial listing as set forth in Marketplace Rule
4310(c), and its application is accepted, the Company will have an
additional 180 days to regain compliance. About InPlay Technologies
InPlay Technologies is a developer of innovative human interface
devices for electronic products. The company's FinePoint division
offers the only digital-based pen-input solution for the rapidly
growing mobile computing market.�With InPlay�s digital technology,
OEMs have�an almost limitless roadmap for development of
new�features and functions for their product designs. The Company�s
Duraswitch� brand of electronic switch technologies couples the
friendly tactile feedback of mechanical pushbuttons and rotary
dials with the highly reliable, thin profile of membrane switches
enabling OEMs to create ergonomic, space saving input panels for�a
wide range of�applications. Visit www.inplaytechnologies.com for
more information. This news release contains certain
�forward-looking statements� within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements
include statements regarding our continued listing on the Nasdaq
Capital Market. Risks and uncertainties that could cause results to
differ materially from those projected include our ability to
regain and maintain compliance with Nasdaq�s requirements for
continued listing and other uncertainties described from time to
time in our documents filed with the Securities and Exchange
Commission, including our Annual Report on Form 10-KSB for the year
ended December 31, 2007 as filed with the Securities and Exchange
Commission on March 24, 2008. These forward-looking statements
represent our beliefs as of the date of this press release and we
disclaim any intent or obligation to update these forward-looking
statements.
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