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United American Healthcare Corporation Announces Fiscal 2010 First Quarter Results
Date:11/16/2009

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"As we manage through one of the sharpest economic downturns in more than half a century, our review of strategic alternatives has taken longer than we might have anticipated," concluded Brooks. "This should be understandable given the state of current markets and the challenges involved in establishing accurate valuations when markets cease to function effectively. While we realize that some of our shareholders may have grown impatient with this process, we remain committed to completing the hard work and effort required to identify the best possible alternative to benefit all shareholders. As we reach the conclusion of this process, we will communicate our decision to shareholders and provide a forum for them to address their questions and concerns."

Deficiency Notice Related to Nasdaq Minimum Closing Bid Price Rule

On November 12, 2009, the Company received a letter from The Nasdaq Stock Market advising that, for the previous 30 consecutive business days, the closing bid price of the Company's common stock was below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market. This notification has no effect at this time on the listing of Company's common stock, which will continue to trade on The Nasdaq Capital Market under the symbol UAHC.

The Company has a grace period of 180 calendar days, or until May 11, 2010, in which to regain compliance. The Company will regain compliance if at any time before May 11, 2010, the bid price of its common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days. The Company also may be eligible for an additional 180-calendar day grace period if it satisfies the initial listing standards, with the exception of bid price, for The Nasdaq Capital Market. If the Company does not regain compliance within the required period, Nasdaq will provide it with written notification that the common stock is subject to delisti
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SOURCE United American Healthcare Corporation
Copyright©2009 PR Newswire.
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