Vitacost.com, Inc. Receives NASDAQ Notification Letter
19 11월 2010 - 6:00AM
Business Wire
Vitacost.com, Inc. (NASDAQ:VITC), a leading online retailer and
direct marketer of health and wellness products, announced today
that the Company received a letter from The NASDAQ Stock Market
(“NASDAQ”) indicating that the Company is not in compliance with
Listing Rule 5250(c)(1) because the Company has not timely filed
its Form 10-Q for the quarter ended September 30, 2010. According
to the NASDAQ letter, under NASDAQ Rules, the Company has 60
calendar days to submit a plan to regain compliance, and if such
plan is accepted by NASDAQ, the Company may be granted an exception
of up to 180 calendar days from the November 15, 2010 due date of
the filing, or until May 16, 2011, to regain compliance. The
Company intends to submit to NASDAQ, on or prior to NASDAQ’s
January 18, 2011 deadline, the Company’s required plan to regain
compliance with NASDAQ’s listing requirements.
About Vitacost.com, Inc.
Vitacost.com, Inc. (NASDAQ: VITC) is a leading online retailer
and direct marketer of health and wellness products, including
dietary supplements such as vitamins, minerals, herbs or other
botanicals, amino acids and metabolites, as well as cosmetics,
organic body and personal care products, sports nutrition and
health foods. Vitacost.com, Inc. sells these products directly to
consumers through its website, www.vitacost.com, as well as through
its catalogs. Vitacost.com, Inc. strives to offer its customers the
broadest product selection of healthy living products, while
providing superior customer service and timely and accurate
delivery.
Forward-Looking Statements
Except for historical information contained herein, the
statements in this release are forward-looking and made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements made herein, which
include statements regarding the Company’s plan to regain
compliance with NASDAQ’s listing requirements, involve known and
unknown risks and uncertainties, which may cause the Company’s
actual results in current or future periods to differ materially
from future results. Those risks and uncertainties include, among
other things, the current global economic downturn or recession;
difficulty expanding its manufacturing and distribution facilities;
significant competition in its industry; unfavorable publicity or
consumer perception of its products on the Internet; the incurrence
of material product liability and product recall costs; inability
to defend intellectual property claims; costs of compliance and its
failure to comply with government regulations; its failure to keep
pace with the demands of customers for new products; disruptions in
its manufacturing system, including information technology systems,
or losses of manufacturing certifications; the lack of long-term
experience with human consumption of some of its products with
innovative ingredients; and costs associated with the internal
review and stockholder litigation. Those and other risks are more
fully described in the Company’s filings with the Securities and
Exchange Commission, including the Registration Statement on Form
S-1, as amended, filed in connection with the company’s initial
public offering as well as the Company’s Form 10-K filed for the
full year ended December 31, 2009.
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