JAMDAT Mobile Inc. Informed by Nasdaq of Audit Committee Status
18 11월 2005 - 11:00PM
Business Wire
Global wireless entertainment publisher JAMDAT Mobile Inc.
(NASDAQ:JMDT) today reported that it received an automatic
notification from The Nasdaq Stock Market informing JAMDAT that it
was not in compliance with Nasdaq's audit committee requirement as
set forth in Marketplace Rule 4350 due to the vacancy created by
the resignation of Rajiv Dutta as a director and member of the
audit committee, effective November 11, 2005. Prior to his
resignation, Dutta served as chairman of the audit committee of the
Board and qualified as a "financial expert." Marketplace Rule
4350(d)(2)(A) requires the audit committee of each Nasdaq issuer to
have at least three independent members on its audit committee (as
the term "independent" is defined in Marketplace Rule 4200(a)(15)
and Rule 10A-3(b)(1) under the Securities Exchange Act of 1934, as
amended), at least one of whom must be a financial expert.
Currently, JAMDAT's audit committee consists of only two members,
neither of whom qualifies as a financial expert. Marketplace Rule
4350(d)(4)(B) provides that a company that has one vacancy on its
audit committee will have until the earlier of its next annual
shareholders' meeting, or one year after the vacancy occurred to
fill the vacancy. JAMDAT intends to comply with this requirement by
appointing a third independent member who qualifies as a financial
expert to its audit committee within the time allowed under the
Nasdaq rules. About JAMDAT Mobile JAMDAT Mobile Inc. is a global
publisher of wireless entertainment applications, including games,
ring tones, images and other content. JAMDAT's application
portfolio is based on original and licensed intellectual properties
and includes JAMDAT Bowling, Tetris(R), Downtown Texas Hold 'Em,
Lemonade Tycoon(R), Bejeweled(R), The Lord of the Rings(R), Tony
Hawk's(R) Underground and Scrabble(R). JAMDAT distributes its
applications through wireless carriers around the world. For more
information, please visit www.jamdat.com. Safe Harbor Statement -
JAMDAT Mobile Inc. This press release may include forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements related to anticipated
revenues, expenses, earnings, operating cash flows, the outlook for
JAMDAT's markets and the demand for its products. Factors that
could cause JAMDAT's actual results to differ materially from these
forward-looking statements include its ability to integrate the
acquisition of Blue Lava Wireless, anticipated growth in the
handset market, its ability to effectively market and sell products
in diverse market segments, its reliance on a limited number of
products and third-party vendors and distributors, its ability to
expand studio operations, increases in fulfillment costs,
disruptions to information technology systems, unpredictable events
and circumstances relating to international suppliers, increased
competition, government regulatory action and general economic
conditions. Please refer to JAMDAT's reports and filings with the
Securities and Exchange Commission for a further discussion of
these risks and uncertainties. Readers are cautioned not to place
undue reliance on forward-looking statements, which speak only as
of the date they are made. JAMDAT undertakes no obligation to
update publicly any forward-looking statements to reflect new
information, events or circumstances after the date they were made
or to reflect the occurrence of unanticipated events. (C)2005
JAMDAT Mobile Inc. JAMDAT, JAMDAT Mobile and the bubbles logo are
trademarks of JAMDAT Mobile Inc.
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