LENCO MOBILE INC. Announces Filing for NASDAQ Listing November 25, 2009 today announced that the Company had filed an application to list its common stock on the NASDAQ Capital Market. The application was submitted with the intent that it be approved concurrently with the effectiveness of the Company's registration statement on Form 10 filed with the Securities and Exchange Commission on November 9, 2009. The listing application is subject to review and approval by NASDAQ's Listing Qualifications Department for compliance with all NASDAQ Capital Market Standards. NASDAQ's review process is thorough and may take an extended period of time before completion. While the Company intends to satisfy all of NASDAQ's requirements for initial listing, no assurance can be given that its application will be approved.
Announcing the filing, Michael Levinsohn, CEO of Lenco Mobile Inc., said, "Given Lenco's continued success and ongoing opportunities, we feel the time is right to increase our exposure to the financial markets. We believe the move to the NASDAQ Capital Market is the next logical step in the Company's future growth."
