as predicted last week!!!!!!!!!
Purple Communications Announces Voluntary Delisting from
NASDAQ
NOVATO, Calif., Nov 05, 2009 -- Purple Communications(TM), Inc.
("Purple" or "the Company") (PRPL) announced today that it has given
formal notice to the Nasdaq Stock Market of the Company's intention to
voluntarily delist its common stock from the Nasdaq Capital Market.
Purple will remain a reporting company and will continue to be required
to file periodic reports with the SEC.
The decision to delist has been reached as part of the Company's
strategy to conserve resources and manage costs and administrative
burden given the current investigations by certain government
regulators, which investigations have been previously described and
disclosed in the Company's SEC filings; accordingly the Company's Board
of Directors concluded that the compliance costs, listing fees and
expenses and administrative burdens of maintaining the listing of its
common stock with Nasdaq outweighed the benefits at this time.
Purple currently anticipates that it will file with the SEC and Nasdaq
a Form 25 relating to the delisting of its common stock on or about
November 16, 2009, with the delisting of its common stock taking effect
no earlier than ten days thereafter. As a result, Purple expects that
the last day of trading of its common stock on the NASDAQ Capital
Market will be on or about November 27, 2009.
Following the delisting, Purple's common stock is expected to be quoted
on the Pink Sheets, a centralized electronic quotation service for
over-the-counter securities, so long as market makers demonstrate an
interest in trading in the Company's stock. For more information about
this service, please see
Electronic OTC Markets - Quotation, Trading Systems, OTCQX, OTC Issuer Services. However, the Company can
give no assurance that trading in its common stock will continue on the
Pink Sheets or any other securities exchange or quotation medium.