VUANCE Announces Receipt of Nasdaq Delisting Notice
01 October 2009 - 6:01AM
PR Newswire (US)
FRANKLIN, Wis., Sept. 30 /PRNewswire-FirstCall/ -- VUANCE, Ltd.
(NASDAQ: VUNC), a leading provider of innovative Radio Frequency
Verification Solutions, including active RFID, electronic access
control, credentialing, accountability and incident response
management, announced today that it has received a Nasdaq Staff
Determination letter, dated September 29, 2009, indicating that the
Company failed to comply with the minimum stockholders' equity
requirement of $2.5 million as set forth in Listing Rule 5550(b)
(formerly Marketplace Rule 4310(c)(3)). As a result, Nasdaq has
notified the Company that the Company's securities will be delisted
from The Nasdaq Stock Market and trading in the Company's shares
will be suspended effective at the open of business on October 1,
2009. The Company has been advised by Pink OTC Markets Inc., which
operates an electronic quotation service for securities traded
over-the-counter, that its securities are immediately eligible for
quotation in the Pink Sheets effective as of the open of business
on October 1, 2009. The Company's common stock will be quoted under
the ticker symbol "VUNCF". The Company's securities may, in the
future, also be quoted on the Over-the-Counter Bulletin Board (the
"OTCBB"), an electronic quotation service maintained by the
Financial Industry Regulatory Authority ("FINRA"), provided that a
market maker in the Company's securities files an application to
register and quote the securities in accordance with SEC Rule
15c2-11, and such application (a "Form 211") is cleared by FINRA.
Only a market maker, not the Company, may file a Form 211. There
can be no assurance that a market maker will file a Form 211 or
that the securities would become eligible to be quoted on the OTCBB
on a timely basis or at all. About the Pink OTC Markets, Inc. and
the OTC Bulletin Board (OTCBB) The Pink OTC Markets, Inc. and the
OTCBB (the "Markets") are regulated quotation services that display
real-time quotes, last-sale prices and volume information in OTC
equity securities. An OTC equity security generally is any equity
that is not listed or traded on a national securities exchange.
National, regional and foreign equity issues, warrants, units,
American Depositary Receipts (ADRs) and Direct Participation
Programs are all eligible for trading on the Markets. More
information is available at http://www.otcbb.com/ and
http://www.pinksheets.com/. About VUANCE Ltd. VUANCE Ltd. develops
and markets state-of-the-art security solutions for viewing,
tracking, locating, credentialing, and managing essential assets
and personnel. VUANCE solutions encompass electronic access
control, urban security, and critical situation management systems
as well as long-range Active RFID for public safety, commercial,
and government sectors. The Company's comprehensive range of
products enable our business partners to offer their customers
end-to-end solutions that can overcome the most difficult security
challenges. Its Incident Response Management System (IRMS) is the
industry's most comprehensive mobile credentialing and access
control system, designed to meet the needs of Homeland Security and
other public initiatives. VUANCE is serious about security. VUANCE
Ltd. is headquartered in Franklin, WI. For more information, visit
http://www.vuance.com/. Safe Harbor This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements are
subject to known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Statements preceded or followed by or that otherwise
include the words "believes," "expects," "anticipates," "intends,"
"projects," "estimates," "plans," and similar expressions or future
or conditional verbs such as "will", "should", "would", "may" and
"could" are generally forward-looking in nature and not historical
facts. Forward-looking statements in this release also include
statements about business and economic trends. Investors should
also consider the areas of risk described under the heading
"Forward Looking Statements" and those factors captioned as "Risk
Factors" in the Company's periodic reports under the Securities
Exchange Act of 1934, as amended, or in connection with any
forward-looking statements that may be made by the Company. The
Company also disclaims any duty to comment upon or correct
information that may be contained in reports published by the
investment community. Investor/Media Contact Hayden IR Brett Maas,
646-536-7331 DATASOURCE: VUANCE Ltd. CONTACT: Brett Maas of Hayden
IR, +1-646-536-7331, , for VUANCE Ltd. Web Site:
http://www.vuance.com/
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