DigitalFX International, Inc. Receives Listing Determination Letter
January 13 2009 - 4:00PM
PR Newswire (US)
LAS VEGAS, Jan. 13 /PRNewswire-FirstCall/ -- DigitalFX
International, Inc. (NYSE Alternext US: DXN), a multi-tier Web 2.0
digital media products distribution company announced today that on
January 8, 2009, the Company received notice from the NYSE
Alternext US Staff indicating that the Company no longer complies
with the Exchange's continued listing standards and its securities
are, therefore, subject to being delisted from the Exchange. The
Company has appealed this determination and requested an oral
hearing before the Exchange's listing qualifications panel.
Specifically, as previously disclosed, the Staff previously
determined that the Company was not in compliance with Sections
1003(a)(i), (ii) and (iv) of the Company Guide. In addition, the
Staff notified the Company that pursuant to Section 1003(f)(v) of
the Company Guide, the Staff believes that a reverse stock split is
appropriate in view of the fact that the Company's common stock has
been selling for a substantial period of time at a low price per
share, and that the low selling price of the Company's common stock
over the aforementioned period constituted an additional deficiency
with respect to the Exchange's continued listing requirements.
There is no assurance that the Company's request for continued
listing will be granted. In the event that the Company is not
granted its request for continued listing on the NYSE Alternext US
Exchange, the Company believes that its securities will be eligible
to trade or be quoted on alternative markets. About DigitalFX
International, Inc. DigitalFX International, Inc. (NYSE Alternext
US: DXN) markets web-based products such as streaming live and
on-demand video, video email and digital storage that because of
their extremely low cost for the first time brings the next
generation Internet revolution to individuals through its
http://www.helloworld.com/ website and small and medium-sized
businesses via its http://www.firststream.com/ website. The company
also markets proprietary communication and collaboration services,
and social networking software applications, including its flagship
product, called the Studio. For more information about DigitalFX,
please visit us at http://www.digitalfx.com/ . To receive public
information, including press releases, conference calls, SEC
filings, profiles, investor kits, News Alerts and other pertinent
information, please click on the following link:
http://www.b2i.us/irpass.asp?BzID=1407&to=ea&s=0
FORWARD-LOOKING STATEMENTS The information contained herein
includes forward-looking statements. These statements relate to
future events or to our future financial performance, and involve
known and unknown risks, uncertainties and other factors that may
cause our actual results, levels of activity, performance, or
achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. Examples of
forward-looking statements include statements related to our
compliance with the continued listing requirements of the NYSE
Alternext US Stock Exchange and the eligibility of our securities
to trade or be quoted on alternative markets. You should not place
undue reliance on forward-looking statements since they involve
known and unknown risks, uncertainties and other factors which are,
in some cases, beyond our control and which could, and likely will,
materially affect actual results, levels of activity, performance
or achievements. Any forward-looking statement reflects our current
views with respect to future events and is subject to these and
other risks, uncertainties and assumptions relating to our
operations, results of operations, growth strategy and liquidity.
We assume no obligation to publicly update or revise these
forward-looking statements for any reason, or to update the reasons
actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes
available in the future. The safe harbor for forward-looking
statements contained in the Securities Litigation Reform Act of
1995 protects companies from liability for their forward looking
statements if they comply with the requirements of the Act.
DATASOURCE: DigitalFX International, Inc. CONTACT: Investor
Relations, of DigitalFX International, Inc., +1-702-938-9300 Web
Site: http://www.digitalfx.com/
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