eOn Communications Receives NASDAQ Letter
CORINTH, Miss., Aug. 20, 2013
CORINTH, Miss., Aug. 20, 2013 /PRNewswire/ --eOn Communications Corporation™
(NASDAQ: EONC) (the "Company"), a leading provider of telecommunications
solutions, today announced that on August 15, 2013 it received a Nasdaq Staff
Determination Letter from the Nasdaq Stock Market. The letter states that the
Company has not regained compliance with the minimum share price requirement.
The closing bid price per share of the Company's common stock has been below
the $1.00 minimum share requirement for continued listing as set forth in
Nasdaq Marketplace Rule 5550(a)(2). The Company was provided 360 calendar
days, or until August 12, 2013, to regain compliance.
The Nasdaq letter also states that trading of the Company's common stock will
be suspended at the opening of business on August 26, 2013, and a Form 25-NSE
will be filed with the Securities and Exchange Commission (the "SEC"), which
will remove the Company's securities from listing and registration on The
Nasdaq Stock Market. However, as of August 19, 2013 the closing bid price per
share of the Company's common stock has been above $1.00 for seven consecutive
days and if the bid price remains over $1.00 until the Nasdaq Stock Market
close on August 22, 2013 the Company will be deemed to have regained
compliance with the minimum share price requirement. Therefore, trading of the
Company's common stock would not be suspended.
In the event the Company does not regain compliance the securities may be
immediately eligible to be quoted on the OTC Bulletin Board.
About eOn Communications™
eOn Communications Corporation™ is a global provider of innovative
communications solutions. With over 20 years of telecommunications
engineering expertise, eOn solutions enable customers to leverage advanced
technologies to communicate more effectively. Our offerings are built on
reliable open architectures that enable easy adoption of emerging
technologies, such as Voice over Internet Protocol.
This press release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve risks and uncertainties, including
technical and competitive factors, which could cause the Company's results and
the timing of certain events to differ materially from those discussed in the
forward-looking statements. Such risks are detailed in eOn Communications
Corporation's most recent Form 10-Q filing with the Securities and Exchange
SOURCE eOn Communications Corporation
Contact: Investor Relations, eOn Communications, 800-955-5321,
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