1MAGE Delisted by Nasdaq.ENGLEWOOD, Colo.--(BUSINESS WIRE)--Oct. 8, 1998--1MAGE Software, Inc. (OTCbb-ISOL), announced today that its common stock has been delisted from the Nasdaq Small Cap Market, effective immediately. The determination to delist delist To drop a security from trading on an organized exchange. Delisting may occur for a number of reasons including failure to meet an exchange's standards or placement of a new listing on another exchange. Compare list. the Company's securities was made by a Nasdaq Listing Qualifications Panel (the "Panel") yesterday. The Company had requested an exception from the recently increased requirements for continued listing, in particular the net tangible assets/market capitalization/net income requirements as set forth in NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). Marketplace Rule 4310(c)(2). The Company has entered into a definitive merger agreement with SupraLife International, Inc., a manufacturer and marketer of preventive health products, whereby the Company intended to reestablish compliance with the net income alternative standard for continued inclusion. In its decision, the Panel acknowledged that the merger may allow the Company to regain compliance with the requirements for continued listing, but the Panel was not convinced that the merger transaction would permit the Company to satisfy the requirements for initial inclusion, which it believed would be applicable under the circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . The Panel invited the Company to re-apply for listing on Nasdaq upon completion of the merger, if the combined company satisfies the initial listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. . 1MAGE(R) is the leading provider of electronic document imaging systems to end users of Ardent (Ardent Software, Inc., Westboro, MA) A database vendor formed in 1998 as the merger of VMARK Software, Unidata and O2 Technology. Its products included the UniVerse and UniData databases and DataStage data warehouse utility. Software, Inc. 1MAGE(R) is marketed through a direct sales force and through an international network of Value Added Resellers See VAR. (company) value added reseller - (VAR, or "value added retailer") A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). (VARs). For additional information contact 1MAGE at 303.773.1424 or visit its website at www.1mage.com. |
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