AMEX Notifies Signalife That It Has Accepted Signalife's Plan of Compliance
Thursday March 20, 2:30 pm ET
GREENVILLE, S.C., March 20 /PRNewswire-FirstCall/ -- On January 7, 2008, Signalife received a deficiency letter from the American Stock Exchange ("AMEX") pursuant to which it advised that Signalife would need to comply with the $6 million stockholders' equity threshold required for continued listing under AMEX Rules 1003(a)(iii). This notification was triggered by the decline of Signalife's market capitalization to less than $50 million, which previously exempted Signalife from meeting the minimum stockholders' equity requirement. Pursuant to the letter, Signalife submitted to AMEX for its review and acceptance a plan to bring the company into compliance with the aforesaid stockholders' equity requirement. On March 20, 2008, AMEX notified Signalife that it accepted the company's plan of compliance and granted the company an extension until May 7, 2009 to regain compliance with the aforesaid stockholders' equity requirement. Signalife will be subject to periodic review by AMEX Staff during this extension period. Failure to make progress consistent with the plan or to otherwise regain compliance with the aforesaid stockholders' equity requirement by the end of the extension period could result in the company being delisted from AMEX.
About Signalife, Inc.
Signalife, Inc. is a life sciences company focused on the monitoring and detection of disease through continuous biomedical signal monitoring. Signalife uses its patented signal technology to design and develop medical devices that simplify and reduce the costs of diagnostic testing and patient monitoring in an ambulatory setting. Signalife, Inc. is the recipient of the Frost & Sullivan Technological Innovation Award for 2006 and 2008.
Signalife, Inc. is traded on the American Stock Exchange under the symbol SGN. More information is located at www.signalife.com. Clear Data. Trusted Results.
Caution Regarding Forward-Looking Statements
In this news release we make a number of statements, referred to as "forward-looking statements", which are intended to convey our expectations or predictions regarding the occurrence of possible future events or the existence of trends and factors that may impact our future plans and operating results. Any statements in this news release that are not statements of historical fact maybe considered to be forward-looking statements. These forward-looking statements are derived, in part, from various assumptions and analyses we have made in the context of our current business plan and information currently available to us and in light of our experience and perceptions of historical trends, current conditions and expected future developments and other factors we believe to be appropriate in the circumstances. You can generally identify forward-looking statements through words and phrases such as "seek", "anticipate", "believe", "estimate", "expect", "intend", "plan", "budget", "project", "may be", "may continue", "may likely result", and similar expressions. Each forward-looking statement should be read in context with, and with an understanding of, the various other disclosures concerning our company and our business made in this news release as well as other public reports we file with the SEC, as they may be amended. You should not place undue reliance on any forward-looking statement as a prediction of actual results or developments. For example, no assurance can be given that Signalife will attain the results set forth in the plan or otherwise satisfy AMEX's continued listing requirements, or that Signalife's common stock will continue to trade on AMEX. We are not obligated to update or revise any forward-looking statement contained in this news release to reflect new events or circumstances unless and to the extent required by applicable law.
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Source: Signalife, Inc.
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