NEW YORK, June 15 /PRNewswire-FirstCall/ -- MKTG INC
(Nasdaq: CMKG), an alternative marketing and media communications
agency, today reported that trading in its Common Stock is expected
to move from the Nasdaq Capital Market to the OTC Bulletin Board at
the opening of trading on June 25,
2010. Withdrawal from Nasdaq will not affect the
Company's continued filing of periodic reports with the Securities
and Exchange Commission.
In connection with the move, the Company today notified the
Nasdaq Stock Market of its intent to voluntarily delist its Common
Stock from Nasdaq, and will file a Form 25 with the Securities and
Exchange Commission to effect the delisting. Currently, the
Company is in not in compliance with Nasdaq's rules requiring it to
maintain a minimum bid price of $1.00
per share, a Board of Directors that includes a majority of
independent directors, and an audit committee of at least three
independent directors.
Jim Haughton, Senior Vice
President and Controller commented: "The move from Nasdaq to the
Bulletin Board offers us the opportunity to reduce costs.
Additionally, with the recent decline in our stock price
below $1.00 per share, our continued
listing on Nasdaq would have required us to effect a reverse stock
split to increase the per share price of Common Stock, which in
many instances leads to an erosion in stockholder value. In
light of these considerations, the Company has determined to take
the initiative and move to the Bulletin Board."
The OTC Bulletin Board is a quotation medium for subscribing
broker dealers. OTC Bulletin Board securities are traded by a
community of market makers that enter quotes and trade reports
through a highly sophisticated, closed computer network.
Additional information on the OTC Bulletin Board can be found
at www.otcbb.com.
About MKTG INC
MKTG INC (Nasdaq: CMKG) is an alternative media and marketing
services company headquartered in New
York with full service offices in San Francisco, Chicago, and Cincinnati. The company currently serves a
variety of the world's most recognizable brands, and its services
include experiential marketing, digital marketing, retail
promotions and strategic research and planning. The firm's programs
help its clients profitably connect with consumers and create
networks of brand advocates to generate brand awareness and higher
sales for its customers. For more information, please visit
www.mktg.com.
This press release includes statements which constitute
forward-looking statements made pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements in this press release are not promises
or guarantees and are subject to risks and uncertainties, including
the risk that broker dealers fail to make a market in the Company's
Common Stock in the over-the-counter market. Forward-looking
statements are based on management's current expectations and
assumptions and are naturally subject to uncertainty and changes in
circumstances. We caution you not to place undue reliance upon any
such forward-looking statements.
SOURCE MKTG INC