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MVE Smart Move,

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Share Name Share Symbol Market Type
Smart Move, AMEX:MVE AMEX Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Smart Move, Inc. Announces Plans to Voluntarily Delist Its Common Stock and Warrants From NYSE Alternext US (formerly AMEX)

15/01/2009 11:48pm

Marketwired


Smart Move, (AMEX:MVE)
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On January 15, 2009 Smart Move, Inc. (AMEX: MVE) notified the NYSE Alternext US ("Alternext") that the Company's previously approved plan to restore compliance with Alternext continued listed financial standards Section 1003 (a)(iv) of the Alternext Company Guide cannot be implemented within the time frame provided to regain compliance. The Company had determined that it will not be possible to complete a financing by the deadline for compliance for the Company and at a level adequate to meet the capital provision objectives of its plan. The Company intends to focus its immediate efforts on maintaining cost effective operations and to fund working capital requirements, while continuing our efforts to grow sales and increase market penetration.

Having determined it will be unable to meet the benchmarks of its plan to restore compliance with Alternext listing standards by the Company's requested extended deadline of January 31, 2009, the Company determined that voluntary delisting would be the appropriate action. We have appreciated Alternext's willingness to work with us in connection with our plan and commitment to work with us to ensure an orderly transition.

Following the effectiveness of the delisting of the Company's common stock and warrants from the Alternext, the Company cannot make any assurances that there will be any market maker for the Company's common stock and warrants or that the Company's common stock and warrants will be traded on any market. We currently anticipate that the Company's common stock and warrants may be quoted in the National Daily Quotation Sheets, commonly referred to as the "pink sheets," published by the National Quotation Bureau LLC or traded over the counter on the Bulletin Board.

Forward-Looking Statements

This press release contains various "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and Smart Move intends that such forward-looking statements will be subject to the safe harbors created thereby. The words "will," "may," "could," "expect," "anticipate," "believes," "intends," "should," "plans," "estimates," "approximate" and similar expressions identify these forward-looking statements. These forward-looking statements reflect Smart Move's current views with respect to future events and financial performance, but involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These risks and uncertainties may cause Smart Move's actual results to be materially different from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the foregoing assumptions and those risks referenced under the headings entitled "Factors That May Affect Future Results" or "Risk Factors" contained in Smart Move's filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date hereof and Smart Move expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Smart Move's expectations or future events.

Contact: Tad Gage Capital Insight Partners 312-466-7646

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