eDiets.com(R), Inc. Achieves NASDAQ Compliance and Will Continue Listing on NASDAQ
June 16 2011 - 8:00AM
Marketwired
eDiets.com, Inc. (NASDAQ: DIETD), a leading provider of convenient
at-home diet, fitness and healthy lifestyle solutions, today
announced that it has received notification from The NASDAQ Stock
Market LLC ("NASDAQ") that NASDAQ has determined to continue the
listing of the Company's securities on The NASDAQ Capital Market
based upon the Company's compliance with the terms of the NASDAQ
Listing Qualifications Panel decision dated March 9, 2011, by
evidencing full compliance with the minimum bid price requirement
of $1.00 per share. Accordingly, the matter is now closed.
The Company remains subject to a 180-day compliance period
within which to demonstrate compliance with the minimum $35 million
market value of listed securities requirement for continued listing
on The NASDAQ Capital Market, as set forth in Listing Rule 5550(b),
which expires on August 1, 2011. As previously disclosed, if the
Company does not demonstrate compliance with the market
capitalization requirement or the alternative requirement of $2.5
million in stockholders' equity by August 1, 2011, NASDAQ will
notify the Company that its securities are subject to delisting, at
which time the Company may appeal the delisting determination to a
NASDAQ Listing Qualifications Panel, and the Company would remain
listed on NASDAQ pending the outcome of that appeal.
About eDiets
eDiets.com, Inc. is a leading provider of personalized
nutrition, fitness and weight-loss programs. eDiets features its
award-winning, fresh-prepared diet meal delivery service as one of
the more than 20 popular diet plans sold directly to members on its
flagship site, www.eDiets.com. The company also provides a broad
range of customized wellness and weight management solutions for
Fortune 500 clients. eDiets.com's unique infrastructure offers
businesses, as well as individuals, an end-to-end solution
strategically tailored to meet its customers' specific goals of
achieving a healthy lifestyle. For more information, please call
310-954-1105 or visit www.eDiets.com.
Investor Relations Contact: John Mills ICR, Inc. 310-954-1105
John.Mills@icrinc.com
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