Sports Resorts International, Inc. Receives Notice of Non-Compliance Under Nasdaq Marketplace Rules 4350 (e) and 4350 (g)
January 09 2006 - 12:40PM
PR Newswire (US)
OWOSSO, Mich., Jan. 9 /PRNewswire-FirstCall/ -- Sports Resorts
International, Inc. (the "Company") (NASDAQ:SPRI) today reported
that on January 4, 2006 it received a notice from The Nasdaq
Stockmarket ("Nasdaq") for non-compliance with marketplace Rules
4350 (e) and 4350 (g) for continued listing which require the
solicitation of proxies from shareholders and the holding of an
annual shareholders meeting. Accordingly, the Company's securities
will delist from The Nasdaq Stock Market at the opening of business
on January 13, 2006. Previously, in August of 2005, the Company
received a notice for non-compliance with marketplace Rule 4310 (c)
which requires the maintenance of a minimum bid price of $1.00 per
share on its common stock and was given until February 6, 2006 to
regain compliance or face delisting. To date, the Company has been
unable to satisfy this requirement. Currently, the Company through
its wholly-owned subsidiaries, manufacturers and markets
high-quality drop-in bedliners and other truck accessories for the
original equipment manufacturers and automotive aftermarket
business and owns and operates a multi-purpose motor-sports
facility located near Brainerd, Minn. Certain statements included
in this press release are "forward-looking" statements, such as
those relating to anticipated events or activities. The Company's
performance and financial results could differ materially from
those reflected in the forward-looking statements due to financial,
economic, regulatory and political factors as described in the
Company's filings with the Securities and Exchange Commission.
Therefore, current or prospective investors are cautioned not to
place undue reliance on any such forward- looking statements. The
Company does not undertake any obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information or future events. DATASOURCE: Sports Resorts
International, Inc. CONTACT: Greg Strzynski, Investor Relations of
Sports Resorts International, Inc., +1-989-725-8354
Copyright
Sports Resorts (NASDAQ:SPRI)
Historical Stock Chart
From Sep 2024 to Oct 2024
Sports Resorts (NASDAQ:SPRI)
Historical Stock Chart
From Oct 2023 to Oct 2024