As previously announced, the Company is pursuing a sale of its U.S.,
The voluntary decision to delist from NASDAQ was taken following the Company's review of several factors, including its previously disclosed noncompliance with the minimum bid price requirements of NASDAQ. Also among these factors is the Company's inability to satisfy questions raised by NASDAQ concerning its ability to maintain eligibility for continued listing on NASDAQ following completion of its proposed sale of its mobile marketing business, as well as the Chapter 11 proceedings for certain of its U.S. subsidiaries and the Chapter 7 filing of Mobclix.
The Company will work with market makers to enable its ordinary shares to be quoted on the over-the-counter market following its NASDAQ delisting. The Company expects that its ordinary shares will continue to trade over-the-counter so long as a market maker demonstrates an interest in trading the ordinary shares. However, the Company can provide no assurance that the trading in its ordinary shares will continue in the over-the-counter market or in any other form.
FORWARD-LOOKING STATEMENTS This press release may contain "forward-looking statements" -- that is, statements related to future -- not past -- events, plans, and prospects. In this context, forward-looking statements may address matters such as our expected future business and financial performance, and often contain words such as "guidance," "expects," "anticipates," "intends," "plans," "believes," "seeks," "should," or "will." These statements are based on management's best assumptions and beliefs in light of the information currently available to it. Because they involve risks and uncertainties, actual results may differ materially from the results that the Company currently expects. Factors that could cause these differences include the Company's ability to effect and maintain quotation of its ordinary shares on the over-the-counter market, as well as risk factors specified on the
Company's annual report on Form 20-F for the year ended
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