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InfoLogix Announces Receipt of NASDAQ Waiver for Stockholder Approval of Restructuring and Extension to Stockholder's Equity Requirement
Date:11/10/2009

months and to 1% after two years.

The restructuring has certain negative and financial covenants and other stipulations associated with the arrangement. The Company would also be assessed a transaction fee equal of $450,000. Following the transaction, Hercules or its affiliate would own approximately 55% of the Company on a fully diluted basis.

Absent this exception, NASDAQ rules would have required the approval of the Company's stockholders prior to the issuance of equity capital to Hercules or its affiliate. To obtain this exception, the Company was required to demonstrate to NASDAQ that the delay associated with the effort to secure stockholder approval prior to consummation of the transaction would have seriously jeopardized the Company's financial viability. As also required by NASDAQ, on October 9, 2009, the Audit Committee of the Company's Board of Directors expressly approved the Company's reliance on this exception.

In addition to the foregoing, on October 30, 2009, the Company received notice that the NASDAQ Listing Qualifications Staff has granted the Company's request for an extension to regain compliance with the listing rules of the NASDAQ Capital Market. The notice is in response to a letter received from NASDAQ notifying the Company that it was not in compliance with the continued listing rules of the NASDAQ Capital Market because the Company did not meet the requirement to have at least $2.5 million in stockholders' equity as set forth in NASDAQ Listing Rule 5550(b)(1). The Company's continued listing on NASDAQ is subject to the condition that the Company evidence compliance with the stockholders' equity requirement by no later than November 20, 2009. The Staff's determination follows the Company's previous disclosure on August 21, 2009, regarding its non-compliance with the minimum stockholders' equity requirement.

While the Company believes it can satisfy the terms of the Staff's determinati
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SOURCE InfoLogix, Inc.
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