iGO, Inc. Announces Intent to Voluntarily Delist from NASDAQ and Deregister Its Common Stock

  iGO, Inc. Announces Intent to Voluntarily Delist from NASDAQ and Deregister
  Its Common Stock

Business Wire

SCOTTSDALE, Ariz. -- November 12, 2013

iGO, Inc. (NASDAQ: IGOI) (the “Company”) today announced its intention to
voluntarily delist its common stock, par value $0.10 per share, with the
associated Series H Junior Participating Preferred Stock Purchase Rights, from
the NASDAQ Capital Market (“NASDAQ”). The Company intends to file a Form 25
with the Securities and Exchange Commission ("SEC") on or about November 22,
2013 to commence the NASDAQ delisting process, on which date the Company
anticipates trading in the Company’s common stock, with associated purchase
rights, on NASDAQ will be suspended. Accordingly, the Company expects that
November 21, 2013 will be the last day that the Company’s common stock will
trade on NASDAQ. It is expected that the delisting of the Company’s common
stock, with associated purchase rights, will become effective approximately
ten days thereafter.

The Company has previously disclosed that on September 27, 2013, the Company
received a letter from NASDAQ notifying the Company that it was not in
compliance with the majority independent director requirement as set forth in
Listing Rule 5605(b)(1) and the audit committee requirement as set forth in
Listing Rule 5605(c)(2), and that on September 30, 2013, the Company received
a letter from NASDAQ reminding the Company of the requirement to hold an
annual meeting of shareholders no later than December 31, 2013.

The voluntary decision to delist from NASDAQ was taken following the Board of
Directors' review of numerous factors including the aforementioned NASDAQ
letters, the applicable NASDAQ rules and regulations, the benefits generated
by the maintenance of the listing, recent trading volume in the Company’s
common stock, the current composition of the Company’s Board of Directors and
audit committee, and the feasibility of ongoing compliance with the NASDAQ
listing requirements in light of the Company's management and ownership
structure. Based on the foregoing factors, the Company no longer sees
sufficient value in maintaining its listing on NASDAQ.

Following the delisting, the Company anticipates that its stock will be quoted
on the Pink Sheets, a centralized electronic quotation service operated by the
OTC Markets for over-the-counter securities, so long as market makers
demonstrate an interest in trading in the Company’s stock. The Company will
use its best efforts to ensure that its common stock will continue to trade in
a recognized market or quotation service. However, the Company can give no
assurance that trading in its stock will continue on the Pink Sheets or on any
other securities exchange or quotation medium.

After the effective date of delisting, the Company intends to file a Form 15
with the SEC to voluntarily effect deregistration of its securities pursuant
to Section 12(g) of the Securities Exchange Act of 1934, as amended. The
Company is eligible to deregister by filing a Form 15 because it currently has
fewer than 300 holders of record of its securities. The Company expects that
its obligation to file periodic reports, such as Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, under Section
13(a) of the Securities Exchange Act of 1934, as amended, will be suspended
upon the filing of the Form 15 but will continue pursuant to Section 15(d) of
the Securities Exchange Act of 1934, as amended, through January 1, 2014, at
which time such obligations, except with respect to the Company’s 2013 Form
10-K, will also be suspended if the Company has less than 300 holders of
record. After filing the Form 15, the Company may also seek no action relief
from the SEC requesting that the Company’s obligation to file its 2013 Form
10-K be suspended.

The decision of the Company's Board of Directors to deregister its common
stock, with associated purchase rights, was based on the consideration of
numerous factors, including the large costs of preparing and filing periodic
reports with the SEC, the increased outside accounting, audit, legal and other
costs and expenses associated with being a public company, the burdens placed
on Company management to comply with reporting requirements, and the low
trading volume in the Company's common stock. After deregistration of the
Company’s stock is effective and its periodic reporting requirements are
suspended, the Company intends to continue to provide interim unaudited
financial information and annual audited financial information to its
stockholders.

About iGO, Inc.

iGO, Inc. offers a full line of innovative accessories for almost every mobile
electronic device on the market. Whether a consumer wants to power, protect,
listen to, share, cool, hold or connect to their device, iGO has the
accessories they needs.

iGO’s products are available at www.igo.com as well as through leading
resellers and retailers. For additional information call 480-596-0061, or
visit www.igo.com.

iGO is a registered trademark of iGO, Inc. All other trademarks or registered
trademarks are the property of their respective owners.

iGO has adopted a Rights Agreement to deter acquisitions of 4.9% or more of
the Company's common stock (subject to certain exceptions) by any group or
person in order to protect the Company's ability to utilize its net loss
carryforwards to reduce potential future federal income tax obligations.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of
Section 21E of the Securities Exchange Act of 1934. The words “believe,”
“expect,” “anticipate,” “should,” and other similar statements of our
expectation identify forward-looking statements. These forward-looking
statements are based largely on management’s expectations and involve known
and unknown risks, uncertainties and other factors, which may cause the
Company’s actual results, performance or achievements, or industry results, to
be materially different from any future results, performance or achievements
expressed or implied by these forward-looking statements. Risks that could
cause results to differ materially from those expressed in these
forward-looking statements include, among others, the risk that unforeseen
events occur and delay the preparation and filing of the Form 25 and Form 15
and that the SEC does not accept or requires amendments to the Form 25 and
Form 15 resulting in a delay in the delisting and deregistration of the
Company’s common shares, and the continued interest of market makers in
trading the Company’s common stock and the Company’s decision to deregister
its common stock under the Securities Exchange Act of 1934, as amended.
Additionally, other factors that could cause actual results to differ
materially from those set forth in, contemplated by, or underlying these
forward-looking statements are included in the Company’s Annual Report on Form
10-K for the year ended December 31, 2012 under the heading “Risk Factors.” In
light of these risks and uncertainties, the forward-looking statements
contained in this press release may not prove to be accurate. The Company
undertakes no obligation to publicly update or revise any forward-looking
statements, or any facts, events, or circumstances after the date hereof that
may bear upon forward-looking statements. Additionally, the Company does not
undertake any responsibility to release publicly updates on any occurrence of
unanticipated events which may cause actual results to differ from those
expressed or implied by these forward-looking statements.

Contact:

iGO, Inc.
Terry R. Gibson, 408-399-6494
 
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