Loudeye Regains Compliance with Nasdaq Listing Requirements
June 12 2006 - 8:05AM
PR Newswire (US)
SEATTLE, June 12 /PRNewswire-FirstCall/ -- Loudeye Corp.
(NASDAQ:LOUDD), a worldwide leader in business-to-business digital
media store services, today announced it has received notification
from the Nasdaq Stock Market that the company has regained
compliance with the Nasdaq's minimum bid price rule. Loudeye's
closing stock price has been at or above the minimum bid price
requirement of $1.00 for 10 or more consecutive trading days.
Accordingly, Loudeye is currently in full compliance with all
listing requirements of the Nasdaq Capital Market and Nasdaq's
delisting matter has been closed. Loudeye announced a one-for-ten
reverse split of its common stock on May 23, 2006. As a result,
Loudeye's common stock is trading on a split-adjusted basis under
the trading symbol "LOUDD." for a period of 20 trading days.
Beginning June 21, Loudeye's common stock will resume trading under
the symbol "LOUD." About Loudeye Corp. Loudeye is a worldwide
leader in business-to-business digital media solutions. Loudeye
combines innovative services with a broad catalog of licensed
digital music and an industry-leading digital media infrastructure,
enabling partners to rapidly and cost effectively launch complete,
customized digital media stores and services. For more information,
visit http://www.loudeye.com/. Forward Looking Statements This
release contains forward-looking information within the meaning of
the Private Securities Litigation Reform Act of 1995. The
forward-looking statements in this release are based on current
estimates and actual results may differ materially due to risks,
including Loudeye's ability to maintain compliance with Nasdaq
listing requirements and other risks set forth in Loudeye's most
recent Form 10-Q, Form 10-K and other SEC filings which are
available through EDGAR at http://www.sec.gov/. These are among the
primary risks we foresee at the present time. Loudeye assumes no
obligation to update the forward-looking statements. DATASOURCE:
Loudeye Corp. CONTACT: Media/Public Relations, Karen DeMarco, , or
Gil Lee, , both of mPRm for Loudeye, +1-323-933-3399; or Investor
relations, Chris Pollak, +1-206-832-4000, or , for Loudeye Corp Web
site: http://www.loudeye.com/
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