Smith Micro Regains Compliance With NASDAQ Minimum Bid Price Rule
ALISO VIEJO, CA -- (Marketwired) -- 11/26/13 -- Smith Micro
Software, Inc. (NASDAQ: SMSI) today announced that it has received
notice from the NASDAQ stock market ("NASDAQ") that the Company has
regained compliance with the $1.00 minimum bid price requirement for
continued listing on the NASDAQ Capital Market.
As previously reported, NASDAQ notified the Company on November 7,
2013 that the bid price of the Company's common stock had closed
below the minimum $1.00 per share requirement over the previous 30
consecutive business days and, as a result, the Company was not in
compliance with Listing Rule 5450(a)(1). On November 25, 2013, NASDAQ
notified the Company that the closing bid price of its common stock
has been at $1.00 per share or greater for at least 10 consecutive
business days. Accordingly, NASDAQ has confirmed to the Company that
it has regained compliance with the minimum bid price rule and the
matter is now closed.
"As mentioned during our last earnings call, we've made great strides
to right-size our expense structure while refining our product and
go-to-market strategies to bring new revenue streams to bear," said
William W. Smith, Jr., President and CEO of Smith Micro Software.
"I'm confident that our hard work will pay off in 2014, and we look
forward to a more stable and profitable year that should build on
improved revenue growth in Q4 of this year."
About Smith Micro Software, Inc.:
Smith Micro Software provides
solutions that simplify, secure and enhance the mobile experience.
Our portfolio includes a wide range of applications that manage
broadband connectivity, data traffic, devices, voice and video
communications over wireless networks. With 30 years of experience
developing world-class client and server software, Smith Micro helps
the leading mobile network operators, device manufacturers and
enterprises increase efficiency and capitalize on the growth of
mobile-connected consumers and workforces. For more information,
visit smithmicro.com. (NASDAQ: SMSI)
Smith Micro and the Smith Micro logo are registered trademarks or
trademarks of Smith Micro Software, Inc. All other trademarks and
product names are the property of their respective companies.
Todd Kehrli or Jim Byers
MKR Group, Inc.
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