netGuru Receives Nasdaq Notification; Providing 180 Days to Remedy Bid Price Deficiency
11 10월 2005 - 5:05AM
Business Wire
netGuru, Inc. (Company) (Nasdaq:NGRU) received a Nasdaq Staff
Deficiency letter (the "Letter") on October 5, 2005, indicating
that the Company is not in compliance with the $1.00 minimum
closing bid price requirement for continued listing on The Nasdaq
Capital Market as set forth in Marketplace Rule 4310(c)(4) (the
"Rule"). The Letter also stated that, in accordance with
Marketplace Rule 4310(c)(8)(D), netGuru will be provided 180
calendar days, or until April 3, 2006, to regain compliance. In
accordance with Marketplace Rule 4310(c)(8)(E), if at any time
before April 3, 2006, the bid price of the Company's common stock
closes at or above $1.00 per share for a minimum of ten consecutive
business days, the Company will be provided written notice that it
complies under the Rule. If compliance with the Rule cannot be
demonstrated by April 3, 2006, the Staff will determine whether
netGuru meets The Nasdaq Capital Market initial listing criteria
set forth in Marketplace rule 4310(c), except for the bid price
requirement. If the Company meets the initial listing criteria, the
Company will be given notice that it has been granted an additional
180 calendar-day period to comply with the Rule. If it is
determined that the Company is not eligible for this additional
compliance period, the Company will be provided written notice that
its securities will be delisted. At that time, the Company may
appeal to a Listing Qualifications Panel the Staff's determination
to delist its securities. About netGuru netGuru is an engineering
information technology and services company offering engineering
analysis and design software, collaborative software solutions, and
professional and technical information technology services and
support to businesses worldwide. netGuru serves its global markets
and clients through offices located in the United States, Europe,
Asia, and the Middle East, and through distributors in 40
countries. The Company licenses its engineering software and
solutions to more than 19,000 businesses in 100 countries. For more
information, please visit www.netguru.com. Safe Harbor Statement
under the Private Securities Litigation Reform Act of 1995 With the
exception of historical or factual information, the matters
discussed in this press release are forward-looking statements that
involve risks and uncertainties. Actual future results may differ.
Factors that could cause or contribute to such differences in
results include, but are not limited to, any further determination
Nasdaq may make regarding netGuru's compliance with Nasdaq
Marketplace Rules and other factors discussed in the "Risk Factors"
Section of netGuru's Form 10-KSB for the fiscal year ended March
31, 2005, and other filings made with the U.S. Securities and
Exchange Commission.
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