iPrint Receives Nasdaq Compliance Notice, May Not Seek Listing
Monday, September 09, 2002
SANTA CLARA, Calif., Sept. 6, 2002 -- iPrint Technologies, inc., a leading supplier of online and offline marketing and branding solutions, today reported that it has been notified by Nasdaq that iPrint is not in compliance with Nasdaq Marketplace Rule 4310(c)(2)(B). This rule requires the Company to maintain a minimum of $2 million in net tangible assets or $2.5 million in stockholders' equity or a market value of listed securities of $35 million. Nasdaq has requested that the Company provide its plan to comply with the Nasdaq SmallCap Market listing requirements by September 18, 2002 or become subject to delisting. In light of iPrint's recent proposal to transfer all or substantially all of the Company's assets through an assignment for the benefit of creditors, it is expected that iPrint will not seek continued listing on the Nasdaq stock market.