Corgi International Limited Announces Notice from NASDAQ That the Company's Shares Will Be Delisted Effective on Friday, March 20, 2009.HONG KONG -- Corgi corgi: see Cardigan Welsh corgi; Pembroke Welsh corgi. International Limited (Nasdaq GM:CRGI CRGI Capital Research Global Investors ) today announced that it received notice from Nasdaq that the Company's shares will be delisted effective at the open of business on Friday, March 20, 2009. As noticed on October 20, 2008 from the staff of The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. , LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (Staff) indicating that based on the Form 20-F for the period ended March 31, 2008, Staff determined that the Company's stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. was $(8,289,789). Accordingly, the Company does not comply with the minimum $10,000,000 stockholders' equity requirement for continued listing on The Nasdaq Global Market set forth in Marketplace Rule 4450(a)(3). Given the Company's failure to satisfy the minimum stockholders' equity standard, Staff has moved forward with delisting the Company from the Nasdaq Global Market. "As previously announced, this decision was not unexpected," states Chief Executive Officer, Michael Cookson. "Our Company has been negatively impacted during this period by the difficult conditions in the both the Retail and Financial markets. There are no changes to the Company's operations in Hong Kong and the United States and the Company will continue to distribute its full product line throughout the world." Although the Company is now delisted from The Nasdaq Capital Market Originally called the NASDAQ Small Cap Market, NASDAQ announced a name change to the NASDAQ Capital Market on September 27, 2005. [1] The NASDAQ Capital Market exists for securities of smaller, less-capitalized companies (small caps) that do not qualify for , its common stock may be traded over-the-counter on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. or in the "pink sheets." The company's new Ticker Symbol is CRGIY.PK. About Corgi International Corgi International Limited is a global Pop Culture company, which develops and markets innovative and high-quality licensed and non-licensed toys, gifts and collectables distributed via direct, specialty, hobby, collector and mass retail channels worldwide. The products are marketed under the brand names Master Replicas and PopCo. The Company's line of products range from premium entertainment prop replicas and limited edition memorabilia to traditional toys and gift merchandise. The Company holds varying licenses for many of entertainment's highest grossing franchises including Harry Potter, Star Trek, Nintendo, and The Beatles, amongst others. The Company is headquartered in Hong Kong, with operations in Walnut Creek, California Walnut Creek is a largely affluent suburb several miles east of Oakland in Contra Costa County, California, USA, in the East Bay region of the San Francisco Bay Area. While not as large as the neighboring Concord, Walnut Creek serves as the business and entertainment hub for the , USA "Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Certain statements contained in this press release may be forward-looking. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, without limitation, changes in market demand for Corgi International products, changes in economic conditions, dependence on certain customers and licensing partners, and other risks described in the Company's annual report on Form 20-F for the fiscal year ended March 31, 2008. The Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances. |
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