Joe’s Jeans In Compliance with Nasdaq Listing Requirements
22 January 2013 - 10:00PM
Business Wire
Joe’s Jeans Inc. (Nasdaq: JOEZ) announced today that the Company
received notification from The Nasdaq Stock Market indicating that
the Company has regained compliance with Nasdaq’s $1.00 minimum bid
price requirement by maintaining a closing bid price of $1.00 or
more for at least ten consecutive trading days and the matter is
now closed.
Marc Crossman, President and CEO, stated, “We are pleased that
we are now in compliance with Nasdaq requirements.” Crossman
continued, “As we stated previously, we are committed to
maintaining our Nasdaq listing and building long-term value for our
shareholders.”
About Joe’s Jeans Inc.
Joe’s Jeans Inc. designs, produces and sells apparel and
apparel-related products to the retail and premium markets under
the Joe's® brand and related trademarks. More information is
available at the company website at www.joesjeans.com.
This release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. The matters discussed in
this document involved estimates, projections, goals, forecasts,
assumptions, risks and uncertainties that could cause actual
results or outcomes to differ materially from those expressed in
the forward-looking statements. All statements in this news release
that are not purely historical facts are forward-looking
statements, including statements containing the words “intend,”
“believe,” “estimate,” “project,” “expect” or similar expressions.
Any forward-looking statement inherently involves risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or
contribute to such differences include, but are not limited to: the
risk that the Company will be unsuccessful in gauging fashion
trends and changing customer preferences; continued acceptance of
the Joe’s® brand in the marketplace; successful implementation of
any growth or strategic plans; the ability of the Company to be
successful in its growth strategy, the risk that changes in general
economic conditions, consumer confidence, or consumer spending
patterns will have a negative impact on the Company’s financial
performance or strategies; the highly competitive nature of the
Company’s business in the United States and internationally and its
dependence on consumer spending patterns, which are influenced by
numerous other factors; the Company’s ability to respond to the
business environment and fashion trends; effective inventory
management; the Company's ability to continue to have access on
favorable terms to sufficient sources of liquidity necessary to
fund ongoing cash requirements of its operations, which access may
be adversely impacted by a number of factors, including the reduced
availability of credit generally and the substantial tightening of
the credit markets, including lending by financial institutions,
who are sources of credit for the Company, the recent increase in
the cost of capital, the level of the Company's cash flows, which
will be impacted by the level of consumer spending and retailer and
consumer acceptance of its products; the ability to generate
positive cash flow from operations; competitive factors, including
the possibility of major customers sourcing product overseas in
competition with our products; the risk that acts or omissions by
the company’s third party vendors could have a negative impact on
the company’s reputation; a possible oversupply of denim in the
marketplace; and other risks. The Company discusses certain of
these factors more fully in its additional filings with the SEC,
including its last annual report on Form 10-K and quarterly report
on Form 10-Q filed with the SEC, and this release should be read in
conjunction with those reports, together with all of the Company’s
other filings, including current reports on Form 8-K, made with the
SEC through the date of this release. The Company urges you to
consider all of these risks, uncertainties and other factors
carefully in evaluating the forward-looking statements contained in
this release.
Any forward-looking statement is based on information current as
of the date of this document and speaks only as of the date on
which such statement is made, and the Company undertakes no
obligation to update these statements to reflect events or
circumstances after the date on which such statement is made.
Readers are cautioned not to place undue reliance on
forward-looking statements.
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