04/30/10 - US Dataworks, Inc. Announces Delisting of Its Common Stock From the NYSE Amex
HOUSTON, April 30, 2010 /PRNewswire via COMTEX News Network/ -- US Dataworks, Inc. (Amex: UDW) announced today that, following the April 13, 2010 oral hearing before the NYSE Amex Listing Qualifications Panel (the "Panel"), the Panel informed the Company of its determination to affirm the Exchange Staff's earlier determination to delist the Company's securities from the Exchange. The delisting is expected to become effective at the close of market on May 4, 2010.
Although the Company is in the process of, through a market maker, getting its securities quoted on the OTC Bulletin Board (the "OTC-BB"), following the effectiveness of the delisting of the Company's securities from the NYSE Amex, the Company cannot give any assurance that there will be any market maker for the Company's securities to be quoted on the OTC-BB or that such securities will be traded on any market. The Company currently anticipates that its securities may be quoted in the National Daily Quotation Sheets, commonly referred to as the "pink sheets," published by the National Quotation Bureau LLC.
"Surely we are disappointed with this outcome," remarked Charles Ramey, CEO of US Dataworks. "However, in light of the recent successes of the Company's current operational, business and financial initiatives, we are very optimistic that the marketplace will validate the Company's efforts and direction," he added. Mr. Ramey concluded that "the fundamentals of the Company's model remain very strong and we will continue working toward maximizing value of our shareholders, including eventually returning to a national securities exchange."
The Company will continue to file periodic reports with the SEC pursuant to the requirements of the Securities Exchange Act of 1934, as amended. |
