Boston Communications Group, Inc. Announces Additional Staff Determination Letter from Nasdaq
11 April 2007 - 7:30AM
Business Wire
Boston Communications Group, Inc. (Nasdaq:BCGI), a leading provider
of solutions to mobile operators and MVNOs worldwide, today
announced that on April 4, 2007, as expected, it received from
Nasdaq an Additional Staff Determination letter indicating that the
Company is not in compliance with the filing requirements for
continued listing as set forth in Marketplace Rule 4310(c)(14) due
to the delay in filing the Company�s Annual Report on Form 10-K for
the fiscal year ended December 31, 2006. On April 3, 2007, the
Company filed a Form 12b-25 with the Securities and Exchange
Commission reporting that it had delayed filing its Annual Report
on Form 10-K pending the completion of its review and restatement
of its historical financial statements. The Company intends to file
its restated financial statements, including its Annual Report on
Form 10-K for the fiscal year ended December 31, 2006, as soon as
practicable and currently expects it will make such filings within
60 to 90 days. The Company is working diligently toward the
completion of its restated financial statements and the filing of
its periodic reports with the Securities and Exchange Commission to
regain compliance with Nasdaq's listing requirements, but there can
be no assurance about any specific filing date. As previously
announced, Nasdaq initially informed the Company in a Staff
Determination letter dated August 17, 2006 that the Company was not
in compliance with the filing requirements for continued listing as
set forth in Marketplace Rule 4310(c)(14) due to the delay in
filing the Company�s Quarterly Report on Form 10-Q for the quarter
ended June 30, 2006. On February 7, 2007, the Nasdaq Listing and
Hearing Review Council (the �Listing Council�) stayed the earlier
decision by the Nasdaq Listing Qualifications Panel to suspend
trading of the Company�s securities pending further action by the
Listing Council. The Company�s common stock will remain listed on
the Nasdaq Global Market until such Listing Council action. There
can be no assurance that the Company�s common stock will continue
to be listed on the Nasdaq stock market. About bcgi bcgi delivers
innovative products and services that enable mobile operators and
MVNOs worldwide to differentiate their offerings and increase
market penetration while reducing costs. Founded in 1988, bcgi is a
leader in identifying and addressing new market needs with proven
solutions, including prepaid and postpaid billing, payments and
access management. For more information, visit www.bcgi.net.
Cautionary Statement Regarding Forward-Looking Statements This
press release contains forward-looking statements that involve
risks and uncertainties, including statements regarding the
continued listing of the Company�s common stock on the Nasdaq stock
market and the filing of public reports. Such statements are based
on management�s current expectations and are subject to a number of
uncertainties and risks that could cause actual results to differ
materially from those described in the forward-looking statements.
Among the important factors that would cause actual results to
differ materially from those indicated by such forward-looking
statements are potential delays in the Company�s restatement of its
historical financial statements, the Company�s ability to file
required reports with the SEC, and the actions of the Nasdaq
Listing Council, as well as the other factors that may affect
future operating results described in the Company�s Form 10-Q for
the three months ended March 31, 2006 filed with the Securities and
Exchange Commission. The Company undertakes no obligation to update
any of the forward-looking statements after the date of this press
release.
Boston Communications (NASDAQ:BCGI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Boston Communications (NASDAQ:BCGI)
Historical Stock Chart
From Sep 2023 to Sep 2024
Real-Time news about Boston Communications Grp (MM) (NASDAQ): 0 recent articles
More Boston Communications Group, Inc. News Articles