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Microcap & Penny Stocks : UDW - US Dataworks, Inc. Turnaround Play Under $1.00
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From: Thomas Kirwin3/20/2010 7:38:53 PM
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02/26/10 - U.S. Dataworks to Appeal the Delisting Determination by the NYSE Amex LLC

US Dataworks, Inc. On Friday February 26, 2010, 6:00 pm EST
HOUSTON, Feb. 26 /PRNewswire-FirstCall/ -- U.S. Dataworks, Inc. (Amex:UDW.a - News), a leading developer of payment processing solutions, announced today that on February 23, 2010, NYSE Amex LLC (the "Exchange") notified the Company that the Exchange intended to strike the listing of the Company's securities from the Exchange pursuant to Section 1009(d) of the NYSE Amex LLC Company Guide. Specifically, the Exchange notified the Company that the delisting determination was based upon the Company's noncompliance with Sections 1003(a)(i), (ii) and (iii) of the Company Guide relating to the stockholders' equity and losses from continued operations.

The Company intends to appeal the foregoing delisting determination and seek an oral hearing before a Listing Qualifications Panel of the Exchange (the "Panel"). The time and place of such a hearing will be determined by the Panel. A request for an oral hearing will stay the scheduled delisting of the Company's securities pending the Panel's determination. There can be no assurance that the Panel will grant the Company's request for continued listing. If the Panel does not grant the relief sought by the Company, its securities will be delisted from the Exchange in which event the Company would seek to cause them be quoted on the OTC Bulletin Board.
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