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NASDAQ Panel Grants Velocity's Request for Continued Listing.

WESTPORT, Conn. -- Velocity Express Corporation (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
: VEXP VEXP Velocity Express Corporation
VEXP via Enhanced Xine Player
), the nation's largest provider of time definite regional delivery solutions, today announced that the NASDAQ Listing Qualifications Panel has granted the Company's request for continued listing on 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
. The Company's continued listing on NASDAQ is subject to the Company's compliance with certain conditions, including demonstration by the Company that it has regained compliance with NASDAQ's minimum 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.
 requirement of $2.5 million or with one of the alternative listing criteria, as set forth in NASDAQ Marketplace Rule 5550(b) (formerly Rule 4310(c)(3)) by August 3, 2009. While the Company is executing on its plan to regain compliance, there can be no assurance that the Company will be able to do so.

About Velocity Express

Velocity Express has one of the largest nationwide networks of regional, time definite, ground delivery service areas, providing a national footprint for customers desiring same day service throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Company's services are supported by a customer-focused technology infrastructure, providing customers with the reliability and information they need to manage their transportation and logistics systems, including a proprietary package tracking system that enables customers to view the status of any package via a flexible web reporting system.
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Publication:Business Wire
Date:Apr 23, 2009
Words:206
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