Navigation Links
Speedus Receives and Appeals Nasdaq Notice
Date:2/2/2010

FREEHOLD, N.J., Feb. 2 /PRNewswire-FirstCall/ -- Speedus Corp. (Nasdaq: SPDE), today announced that on January 28th, 2010 it received notice from Nasdaq, in the form of a staff determination letter, informing the Company that it did not meet the terms of the extension granted to the Company on December 11, 2009 to comply with the stockholders' equity requirement of Marketplace Listing Rule 5550(b) (the "Rule"), which requires the Company to maintain either (1) a minimum of $2.5 million in stockholders' equity; (2) market value of listed securities of $35 million; or (3) net income from continuing operations of $500,000 in the most recently completed fiscal year or two of the last three most recently completed fiscal years.

On February 2, 2010, Speedus submitted an appeal regarding the Nasdaq staff determination by requesting a hearing with the Nasdaq Hearings Panel (the "Panel").  As a result, a hearing has been scheduled for March 11, 2010, at which time the Panel will consider the plan Speedus has developed for regaining and sustaining compliance with the Rule.  The Panel generally issues a decision within 30 to 45 days following a hearing.

While the Panel has the authority to grant the Company up to 180 days from January 28, 2010 to regain compliance with the Rule, there can be no assurance that the Panel will grant the Company's request for continued listing. The Company's securities will continue to be listed on Nasdaq during this appeal process.

About Speedus Corp.

Speedus Corp. (Nasdaq: SPDE) operates through its two majority subsidiaries, Zargis Medical Corp. and Density Dynamics, Inc. Additional information on Speedus Corp. may be obtained at www.speedus.com or by contacting Peter Hodge at 888-773-3669 (ext. 23) or phodge@speedus.com.

Statements contained herein that are not historical facts, including but not limited to statements about the Company's product, corporate identity and focus, may be forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, the continuing development of the Company's sales, marketing and support efforts.

SOURCE Speedus Corp.

RELATED LINKS
http://www.speedus.com

'/>"/>

SOURCE Speedus Corp.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine news :

1. Speedus Corp. Names Stephen X. Graham to Board of Directors
2. Speedus Announces Fourth Quarter and Fiscal 2007 Results
3. Azantis Inc. Receives 2009 NBJ Business Achievement Award From Nutrition Business Journal
4. The Meadows Health Care Center Receives the Award of Excellence from the Ohio Academy of Nursing Homes
5. Dr. Mahaveer Mehta, A Well Known Dermatologist from Dubai, Receives Prestigious 'Hind Rattan Award'
6. MDS Receives U.S. Federal Trade Commission Provisional Regulatory Approval for Sale of MDS Analytical Technologies
7. Case Western Reserve receives $2.8 million to further breast cancer research
8. Stark Receives Accreditation for ESTA's New Code of Practice
9. Haitian Orphanage Receives BPA-Free Baby Bottle Donation from Glendale Company
10. Summit Medical Group Physician Receives Outstanding Performance Award
11. Congo receives help from space after volcano eruption
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/23/2017)... Las Vegas, Nevada (PRWEB) , ... March 23, 2017 , ... ... March 25th from 10am - 2pm. All events will be located in the ... will be hosting a no-cost Child ID event. No appointment is necessary and each ...
(Date:3/23/2017)... ... March 23, 2017 , ... “Wounded Woman Be Ye Healed-Passing ... Ye Healed-Passing On A Legacy” is the creation of published author, Desiree M Webb, ... grief ministry. She has been happily married to her husband, Paul, for over ...
(Date:3/23/2017)... ... March 23, 2017 , ... “The Trainer”: an electrifying and suspenseful gunslinger ... fiction writer with an active imagination and an enthusiasm for action and adventure stories. ... of Wild Bill Hart, who sat looking at the thirty-three notches that lined the ...
(Date:3/22/2017)... ... March 22, 2017 , ... ... publication of the first issue of its companion print magazine. The new magazine, ... cosmetic surgery thanks to information provided by board-certified doctors from across the country. ...
(Date:3/22/2017)... (PRWEB) , ... March 22, 2017 , ... ... experts to create a PCSK9 inhibitor prior authorization (PA) form for prescribers to ... It is one of the helpful tools published as part of the article ...
Breaking Medicine News(10 mins):
(Date:3/22/2017)... Corp. (NASDAQ: DRIO), a leading global digital health ... today reported financial and operational results for the ... 2016. 2016 Highlights ... to the full year 2015  ... Direct-to-consumer model launched in U.S. ...
(Date:3/22/2017)... , March 22, 2017 Ampio ... the development of Ampion™, a low molecular weight ... today announced that it is re-issuing its previous release ... incorporate certain disclosures that are required under the ... below are these additional disclosures along with the ...
(Date:3/22/2017)... Serve You Rx Vermont, LLC, a wholly owned ... based in Milwaukee, Wisconsin , has acquired ... Middlebury, Vermont , from Pharmacy Health Services, ... it was perfect timing for this opportunity to present itself," ... You. "Like us, NEMOP has a high-touch service model, which ...
Breaking Medicine Technology: