Sports Resorts International, Inc. Receives Notice of Non-Compliance Under NASDAQ Marketplace Rule 4310(c)(4)
13 August 2005 - 7:13AM
PR Newswire (US)
OWOSSO, Mich., Aug. 12 /PRNewswire-FirstCall/ -- Sports Resorts
International, Inc. (the "Company") (NASDAQ:SPRI) today reported
that on August 9, 2005 it received a notice from The NASDAQ Stock
Market, Inc. ("Nasdaq") for non-compliance with marketplace Rule
4310(c)(4) (the "Rule") for continued listing which requires the
maintenance of a minimum bid price of $1.00 per share on its common
stock. The Company is being provided 180 calendar days, or until
February 6, 2006 to regain compliance. If at anytime before
February 6, 2006 the bid price of the Company's stock closes at
$1.00 per share or more for a minimum of 10 consecutive business
days, the Company will have complied with the Rule. The Company is
evaluating strategies to return to full compliance. Currently, the
Company through its wholly-owned subsidiaries, manufacturers and
markets high-quality drop-in bedliners and other truck accessories
for the original equipment manufacturers and automotive aftermarket
business and owns and operates a multi-purpose motor-sports
facility located near Brainerd, Minn. Certain statements included
in this press release are "forward-looking" statements, such as
those relating to anticipated events or activities. The Company's
performance and financial results could differ materially from
those reflected in the forward-looking statements due to financial,
economic, regulatory and political factors as described in the
Company's filings with the Securities and Exchange Commission.
Therefore, current or prospective investors are cautioned not to
place undue reliance on any such forward- looking statements. The
Company does not undertake any obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information or future events. For further information contact
Investor Relations at 989-725-8354. DATASOURCE: Sports Resorts
International, Inc. CONTACT: Greg Strzynski of Sports Resorts
International, Inc., +1-989-725-8354
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