Glowpoint Receives Listing Deficiency Letter from NYSE American; Announces Plans to Regain Compliance
12 July 2018 - 6:15AM
Glowpoint, Inc. (NYSE American:GLOW) (“Glowpoint” or the
“Company”), a managed service provider of video collaboration and
network applications, received a deficiency letter (the “Letter”)
from NYSE American LLC (“NYSE American” or the “Exchange”) stating
that the Company is not in compliance with the continued listing
standards as set forth in Section 1003(f)(v) of the NYSE American
Company Guide (the “Company Guide”). Specifically, the Letter
informed the Company that the Exchange has determined that shares
of the Company’s common stock have been selling for a low price per
share for a substantial period of time and, pursuant to Section
1003(f)(v) of the Company Guide, the continued listing of the
Company’s common stock on the Exchange is predicated on the Company
effecting a reverse stock split of its common stock or otherwise
demonstrating sustained price improvement within a reasonable
period of time, which the Exchange determined to be no later than
January 5, 2019. The Company intends to regain compliance with the
listing standards set forth in the Company Guide by undertaking a
measure or measures that are for the best interests of the Company
and its shareholders.
In the interim, the Company’s common stock will continue to be
listed on the NYSE American while it attempts to regain compliance
with the listing standards, subject to the Company’s compliance
with other continued listing requirements. The Company does not
expect the NYSE American notification to affect the Company’s
business operations or its reporting obligations under the
Securities and Exchange Commission regulations and rules or
conflict with or cause an event of default under any of the
Company’s material agreements.
About GlowpointGlowpoint, Inc. (NYSE
American:GLOW) is a managed service provider of video collaboration
and network applications. Our services are designed to
provide a comprehensive suite of automated and concierge
applications to simplify the user experience and expedite the
adoption of video as the primary means of collaboration. Our
customers include Fortune 1000 companies, along with small and
medium sized enterprises in a variety of industries. To learn
more please visit www.glowpoint.com.
Forward looking and cautionary statementsThis
press release and any oral statements made regarding the subject of
this release contain forward-looking statements as defined under
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and are
made under the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical facts, that address activities that
Glowpoint assumes, plans, expects, believes, intends, projects,
estimates or anticipates (and other similar expressions) will,
should or may occur in the future are forward-looking
statements. The forward-looking statements are based on
management’s current belief, based on currently available
information, as to the outcome and timing of future events, and
involve factors, risks, and uncertainties that may cause actual
results in future periods to differ materially from such
statements. A list and description of these and other risk
factors can be found in the Company’s Annual Report on Form 10-K
for the year ending December 31, 2017 and in other filings made by
the Company with the SEC from time to time, including the Company’s
Quarterly Report on Form 10-Q for the three months ended March 31,
2018. Any of these factors could cause Glowpoint’s actual
results and plans to differ materially from those in the
forward-looking statements. Therefore, Glowpoint can give no
assurance that its future results will be as estimated.
Glowpoint does not intend to, and disclaims any obligation to,
correct, update or revise any information contained herein.
INVESTOR CONTACT: Investor Relations Glowpoint,
Inc. +1 303-640-3840 investorrelations@glowpoint.com
www.glowpoint.com
Glowpoint (AMEX:GLOW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Glowpoint (AMEX:GLOW)
Historical Stock Chart
From Jul 2023 to Jul 2024