This release contains forward-looking statements relating to the Company, including the Company's ability to hold a stockholders' meeting by May 31, 2006; the outcome of the vote of DG Systems stockholders on the proposed reverse split; and, the expectation that DG Systems' shares will have a closing bid price
00 minimum closing bid price
requirements of the Nasdaq Capital Market.
The Company was initially notified on June 6, 2005, that its stock had closed below the minimum bid price
for 30 consecutive business days.
The Company further announced that it received a notice on November 21, 2005 from the Nasdaq Stock Market indicating the Company is not in compliance with Nasdaq Marketplace Rule 4450(a)(5) because, for the last 30 consecutive business days, the bid price of the Company's common stock has closed below the minimum $1.
If at any time before May 22, 2006, the bid price of the Company's common stock closes at $1.
00 per share minimum for 30 consecutive days, that company usually receives a letter from The NASDAQ advising it that to regain compliance with The NASDAQ bid price standard, the closing bid price of its stock must be back at $1.
We received a letter from The NASDAQ on November 17, 2005 advising us that we would be given an initial 180 calendar days, or until May 16, 2006, to regain compliance with the Rule by maintaining a closing bid price of our stock of $1.