ImageX To Transfer and Begin Trading on Nasdaq SmallCap Market
Press release from the issuing company
KIRKLAND, Wash., June 10 -- ImageX, the leading provider of online solutions for distributing, managing and producing sales and marketing materials late Friday announced that its request to transfer from the Nasdaq National Market to the Nasdaq SmallCap Market has been approved, effective June 11. The Company's securities will continue trading under its current symbol, "IMGX."
ImageX.com President and CEO Rich Begert noted that the voluntary transfer, which should be transparent to shareholders, will afford ImageX the longest grace period to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share. "We meet all Nasdaq National Market listing requirements other than the minimum $1.00 bid price requirement," Begert added.
"We believe the introduction of our Channel Marketing System will significantly contribute to our financial health, and will help drive our share price into compliance as customer penetration and revenues improve. The Channel Marketing System opens up a substantial market for the company, and builds upon our print production technology by incorporating the management of digital assets, product fulfillment and communication tools for large corporations with distributed sales channels," said Begert.
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