01/12/10 - LML Regains Compliance With NASDAQ Listing Rule
Companies:Lml Payment Systems Inc.
VANCOUVER, British Columbia, Jan. 12, 2010 (GLOBE NEWSWIRE) -- LML Payment Systems Inc. (the "Corporation") (Nasdaq:LMLP - News) received written notification from The NASDAQ Stock Market LLC ("NASDAQ") on January 11, 2010 advising it has regained compliance with NASDAQ Marketplace Rule 5550(a)(2) (the "Minimum Bid Price Rule") which requires listed companies to maintain a minimum bid price of $1.00 per share.
The letter stated that the Corporation's common stock had closed above the $1.00 minimum bid price for 10 consecutive trading days. Therefore, the Corporation had regained compliance and NASDAQ advised that the matter is now closed.
About LML Payment Systems Inc. (www.lmlpayment.com)
LML Payment Systems Inc., through its subsidiaries Beanstream Internet Commerce Inc. in Canada and LML Payment Systems Corp. in the U.S., is a leading provider of financial payment processing solutions for e-commerce and traditional businesses. We provide credit card processing, online debit, electronic funds transfer, automated clearinghouse payment processing and authentication services, along with routing of selected transactions to third party processors and banks for authorization and settlement. Our intellectual property estate, owned by subsidiary LML Patent Corp., includes U.S. Patent No. RE40220, No. 6,354,491, No. 6,283,366, No. 6,164,528, and No. 5,484,988 all of which relate to electronic check processing methods and systems. |
