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PainCare Receives Notices From American Stock Exchange
Date:4/22/2008

ORLANDO, Fla., April 22 /PRNewswire-FirstCall/ -- PainCare Holdings, Inc. (Amex: PRZ), a provider of pain-focused medical and surgical solutions and services, today announced that it received a letter from the American Stock Exchange ("the AMEX") on April 18, 2008 notifying the Company that its delay in filing its Form 10-K for the fiscal year ended December 31, 2007 constitutes a failure to comply with the continued listing standards set forth in Sections 134 and 1101 of the AMEX Company Guide.

On Wednesday, April 16, 2008, PainCare released a news announcement reflecting its comparative results for the 2006 and 2007 fiscal years, ended December 31. The associated Form 10-K is expected to be filed with the U.S. Securities and Exchange Commission within the next several weeks, upon completion of its review by the Company's independent audit firm. As noted in the aforementioned news announcement, PainCare could not complete the Form 10-K within the prescribed time because the Company effected numerous dispositions of physician practices during the 2007 fiscal year resulting in the need for additional time to complete the associated accounting and financial reporting.

Based on its review of the preliminary financial information reported in aforementioned news announcement, the AMEX also notified PainCare by way of a separate letter, dated April 18, 2008, that the Company is not in compliance with Section 1003(a)(i) of the Company Guide with stockholders' equity of less than $2,000,000 and losses from continuing operations and net losses in two out of its three most recent fiscal years; Section 1003(a)(ii) of the Company Guide with stockholders' equity of less than $4,000,000 and losses from continuing operations and net losses
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SOURCE PainCare Holdings, Inc.
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