Dataram Corporation (DRAM)

[Smartacus]

Dataram Regains Compliance With NASDAQ Listing Requirements

PRINCETON, N.J., Sept. 24, 2015 /PRNewswire/ -- On September 22, 2015, Dataram Corporation (DRAM) reported it received formal notification from the NASDAQ Stock Market LLC ("NASDAQ") that the Company has cured its deficiencies and regained compliance with all applicable listing standards. The Company will continue to be listed on NASDAQ and the listing qualification matters previously disclosed by the Company have been closed.

On August 14, 2015, NASDAQ Staff notified the Company that its Form 10-K for the year ended April 30, 2015 (the "Form 10-K") was considered "incomplete" due to the filing not containing its predecessor auditor's audit report covering the financial statements for the fiscal year ended April 30, 2014, and as a result, was not in compliance with Listing Rule 5250(c)(1). Subsequently, in a Staff Determination Letter dated August 20, 2015, Staff notified the Company was not in compliance with Listing Rule 5550(b)(1) (the "Rule") as the Form 10-K reported stockholders' equity of $2,117,000. On September 11, 2015, the Company filed an amended Form 10-K containing audit opinions for the fiscal years ended April 30, 2014 and 2015. Additionally, on September 14, 2015, the Company filed its Form 10-Q for the period ended July 31, 2015 evidencing stockholders equity of $2,712,168.

"We are pleased to have quickly and decisively regained compliance with NASDAQ's listing rules," said Dave Moylan, Chairman and Chief Executive Officer (CEO) of the Company. "Maintaining our NASDAQ listing is vital to our shareholders, customers and Company as we continue to execute our plan to transform Dataram. We believe our shareholders benefit from the enhanced liquidity provided by the listing of the Company's shares on The NASDAQ Capital Market."