Oculus Innovative Sciences Receives Notification of Compliance With the
Stockholders' Requirement of the NASDAQ Listing Rules
PETALUMA, Calif., Dec. 30, 2013 (GLOBE NEWSWIRE) -- Oculus Innovative Sciences
(Nasdaq:OCLS) today announced it received a determination letter from the
listing qualifications department of the NASDAQ Stock Market LLC ("NASDAQ")
notifying the company that it is now compliant with the stockholders' equity
requirement for continued listing on the Nasdaq Capital Market and is no
longer subject to delisting at this time.
As announced on November 22, 2013, the company received a letter from NASDAQ,
notifying the company that it was not in compliance with Nasdaq Listing Rule
5550(b)(1), which requires the company to maintain a minimum of $2.5 million
in stockholders' equity for continued listing on the Nasdaq Capital Market.
After two transactions in December 2013, the company subsequently increased
its stockholders' equity by $3.0 million, and on a pro forma basis as of
September 30, 2013, the company reported $4.5 million in stockholders' equity.
About Oculus Innovative Sciences
Oculus Innovative Sciences is a global healthcare company that designs,
manufactures and markets prescription and non-prescription products in 27
countries. The company's products are used to treat patients in
surgical/advanced wound management, dermatology, women's health and animal
health markets; addressing the unmet medical needs of these markets, while
raising the standard of patient care and lowering overall healthcare costs.
The company's headquarters are in Petaluma, California, with manufacturing
operations in the United States and Latin America. More information can be
found at www.oculusis.com.
Except for historical information herein,matters set forth in this press
release are forward-looking within the meaning of the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995, including statements
about the commercial and technology progress and futurefinancial performance
of Oculus Innovative Sciences, Inc. and its subsidiaries (the "Company").
These forward-looking statements are identified by the use of words such as
"anticipates,""believes," "expects," and "intends," among others.
Forward-looking statements in this press release are subject to certain risks
and uncertainties inherent in the Company's business that could cause actual
results to vary, includingsuchrisks thatregulatory clinical and guideline
developments may change,scientific data may not be sufficient to meet
regulatory standards or receipt of required regulatory clearances or
approvals,clinical results may not be replicated in actual patient
settings,protection offered bythe Company'spatents and patent applications
may be challenged, invalidated or circumvented by its competitors,the
available market fortheCompany'sproducts will not be as large as
expected,the Company'sproducts will not be able to penetrate one or more
targeted markets,revenues will not be sufficient to fund further development
and clinical studies, the Company may not meet itsfuture capital needs, and
its ability to obtain additional funding, as well as uncertainties relative to
varying product formulations and a multitude of diverse regulatory and
marketing requirements in different countries and municipalities, the
uncertainties associated with an initial public offering of a separate public
company, and other risks detailed from time to time in the Company's filings
with the Securities and Exchange Commission including the annual report on
Form 10-K for theyear ended March 31, 2013. The Company disclaims any
obligation to update these forward-looking statements, except as required by
Oculus and Microcyn® Technology are trademarks or registered trademarks of
Oculus Innovative Sciences, Inc. All other trademarks and service marks are
the property of their respective owners.
CONTACT: Media and Investor Contact:
Oculus Innovative Sciences, Inc.
VP of Public and Investor Relations (425) 753-2105
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