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netGuru Inc. Receives Nasdaq Notification; Will Request Hearing to Present Plan to Remedy Listing Deficiencies.


YORBA LINDA Yorba Linda (yôr`bə lĭn`də), city (1990 pop. 52,422), Orange co., S Calif., in a region of citrus fruit; inc. 1967. The city has grown tremendously along with the southern California area; its population increased fivefold between , Calif. -- netGuru, Inc. (Company) (Nasdaq:NGRU) received a staff determination notice from Nasdaq's Listing Qualifications Department indicating that the Company has not regained compliance with the $1.00 minimum closing bid price requirement for continued listing as set forth in Marketplace Rule 4310(c)(4) (the Rule) and that its securities are therefore subject to delisting Delisting

When the stock of a company is removed from a stock exchange.

Notes:
Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange.
 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
 unless the Company successfully appeals the determination.

The Company will request a hearing before a Nasdaq Listing Qualifications Panel to appeal the determination and present its plan to remedy the bid price and any other applicable listing deficiencies, but there can be no assurance that the Panel will grant the Company's request for continued listing.

On March 14, 2006, the Company received notice that, in accordance with Marketplace Rule 4310(c)(8)(D), it would be provided 180 calendar days, or until September Until September is a 1984 romantic drama set in France. It stars Karen Allen as an American tourist in Paris who falls in love with a married Frenchman (Thierry Lhermitte). External links  11, 2006, to regain compliance. Since the bid price of the Company's common stock did not close at or above $1.00 per share for a minimum of ten consecutive trading days during that period, on September 12, 2006, the Company received the notice; since the Company does not currently meet Nasdaq's initial listing criteria as set forth in Marketplace Rule 4310(c), the Company is not eligible for an additional compliance period. However, pursuant to procedures set forth in the Nasdaq Marketplace Rule 4800 Series, the hearing request stays delisting of the Company's securities, and the Company's shares will remain listed on Nasdaq pending the hearing and subsequent written determination by the Hearing Panel.

The Company and BPO BPO Business Process Outsourcing
BPO Benevolent & Protective Order (of Elks of the USA)
BPO Benzoyl Peroxide
BPO Business Process Optimization
BPO Broker Price Opinions
BPO Buffalo Philharmonic Orchestra
 Management Services Inc. (BPOMS) were aware of the listing deficiencies when they entered the merger agreement announced on August 30, 2006. The merger, subject to approval by netGuru shareholders, would involve a reverse stock split and other anticipated reverse-merger transactions that are expected to remedy the deficiencies. It is anticipated that BPOMS will also appear at the same hearing to discuss its business plan and provide further information.

About netGuru, Inc.

netGuru is an engineering services company offering engineering business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in  services for the architecture, engineering, and construction (A/E/C A/E/C Architect/Engineer/Contractor ) industry; document/project collaboration software/solutions for A/E/C companies, enterprise software providers, software integrators, and other businesses engaged in document/project-centric operations; and technical services and support. netGuru offices are located in 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. , Europe, and India. For more information, please visit www.netguru.com.

Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 Statement under the 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:

With the exception of historical or factual information, the matters discussed in this press release, including without limitation, the scheduled hearing, appeal of the determination, presentation of the Company's plan to remedy the deficiencies, BPOMS's business plan, determination of the Hearing Panel, and continued listing, are forward-looking statements that involve risks and uncertainties. Actual future results may differ. Factors that could cause or contribute to such differences in results include, but are not limited to, the business and remedial plans, whether the merger and reverse stock-split are approved and consummated, the Hearing Panel's evaluation of the Company's plans and determination, applicable Marketplace Rules, and other risks and factors detailed from time to time in the Company's public statements and its periodic reports and other filings with the U.S. Securities and Exchange Commission.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Comment:netGuru Inc. Receives Nasdaq Notification; Will Request Hearing to Present Plan to Remedy Listing Deficiencies.
Publication:Business Wire
Geographic Code:1USA
Date:Sep 15, 2006
Words:550
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