Motive (NASDAQ:MOTVE)
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Motive, Inc. (NASDAQ:MOTVE) today announced that the
company received a letter on April 3, 2006 from The Nasdaq National
Market stating that the company has failed to file its Annual Report
on Form 10-K for the year ended December 31, 2005 and, therefore, is
not in compliance with NASDAQ Marketplace Rule 4310(c)(14) and is
subject to delisting. NASDAQ Marketplace Rule 4310(c)(14) requires
that Motive make, on a timely basis, all filings with the Securities
and Exchange Commission (SEC), as required by the Securities Exchange
Act of 1934, as amended. NASDAQ rules also require that Motive make a
public announcement through the news media which discloses receipt of
the letter.
Motive has previously stated that it will require additional time
to file its financial reports with the SEC because of the company's
decision to expand its financial restatement to include periods dating
back to 2001. As a result, Motive will be unable to meet an April 13,
2006 deadline previously granted by NASDAQ. Accordingly, Motive's
common stock will be subject to delisting. If delisted, the company
expects its common stock to trade on the over-the-counter market and
the company intends to file for reinstatement with The Nasdaq National
Market as soon as possible after becoming current with its periodic
financial reports.
About Motive, Inc.
Motive, Inc. (NASDAQ:MOTVE) has pioneered a unique approach to
designing management services into Internet-era networks, systems and
applications. Motive's software makes complex products and services
self-managing, reducing overhead costs and optimizing customers'
return on investment. Companies worldwide have relied on Motive's
software to provide a range of problem remediation and configuration
management tasks for more than 45 million endpoints. Founded in 1997,
Motive is headquartered in Austin, Texas, and has offices in Europe
and Asia. For more information, visit www.motive.com.
This press release contains forward-looking statements. Actual
events or results may differ materially from those described in this
press release. Additional information concerning risk factors
associated with our business can be found in our filings with the
Securities and Exchange Commission, which are available at
www.sec.gov. Statements included in this press release are based upon
information known to us as of the date of this release, and we assume
no obligation to update any information contained in this press
release.
Motive and the Motive logo are trademarks or registered trademarks
of Motive, Inc. All other products or services mentioned herein are
trademarks of their respective holders.