Prosoft Learning Corp. Receives Nasdaq Notification
06 Mai 2005 - 10:42PM
Business Wire
Prosoft Learning Corp. (Nasdaq: POSO) today announced it received a
letter from Nasdaq on May 6, 2005, indicating that Prosoft is not
in compliance with Nasdaq Marketplace Rule 4310(c)(4), which
establishes a minimum $1.00 closing bid price per share requirement
for continued listing. Prosoft will have a period of 180 calendar
days following the notification to achieve compliance. If
compliance with the rule cannot be demonstrated by Nov. 2, 2005,
Nasdaq will determine whether the company meets the initial listing
criteria as set forth in Marketplace Rule 4310(c)(4). If the
company meets the initial listing criteria, it will be eligible for
an additional 180-calendar-day compliance period. If the company is
not eligible for an additional compliance period, Nasdaq will
provide written notification that the company's securities will be
delisted. At that time, the company may appeal the determination to
delist its securities to a Listing Qualifications Panel. About
Prosoft Learning Corp. Prosoft Learning Corp. offers content and
certifications to enable individuals to develop and validate
critical Information and Communications Technology (ICT) workforce
skills. Prosoft is a leader in the workforce development arena,
working with state and local governments and school districts to
provide ICT education solutions for high school and community
college students. Prosoft has created and distributes a complete
library of classroom and e-learning courses. Prosoft distributes
its content through its ComputerPREP division to individuals,
schools, colleges, commercial training centers and corporations
worldwide. Prosoft owns the CIW job-role certification program for
Internet technologies and the CCNT (Certified in Convergent Network
Technologies) certification, and manages the CTP (Convergence
Technologies Professional) vendor-neutral certification for
telecommunications. To learn more, visit www.ProsoftLearning.com,
www.ComputerPREP.com, www.CIWcertified.com and
www.CTPcertified.com. Forward-Looking Statements Except for
historical information contained herein, the matters discussed in
this press release are statements of a forward-looking nature that
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those projected. Such
risks and uncertainties include, without limitation, the company's
dependence on the timely development, introduction and acceptance
of courses, proprietary certifications and other products; the
acceptance of ICT certifications in general; the continued and
improved penetration of the academic, learning center and corporate
markets; the successful implementation of strategic relationships;
the ability of the company to maintain its Nasdaq SmallCap listing;
the effect of changing economic conditions; and the other risks and
uncertainties outlined in the company's filings with the Securities
and Exchange Commission, including, but not limited to, the
company's Annual Report on Form 10-K/A and Quarterly Reports on
Form 10-Q. The company undertakes no obligation to update this
forward-looking information.
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