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UDW US Dataworks,

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Share Name Share Symbol Market Type
US Dataworks, AMEX:UDW AMEX Ordinary Share
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US Dataworks Submits Plan to the American Stock Exchange

28/08/2008 9:23pm

PR Newswire (US)


US Dataworks (AMEX:UDW)
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HOUSTON, Aug. 28 /PRNewswire-FirstCall/ -- US Dataworks, Inc. (AMEX:UDW), a leading innovator of payment processing solutions, announced today that it has submitted to the American Stock Exchange, a Compliance Plan in response to the Exchange's letter of July 23, 2008 informing the Company that it is not in compliance with certain of the Exchange's continued listing standards as set forth in Part 10 of the AMEX Company Guide (the "Company Guide") and the Company has therefore become subject to the procedures and requirements of Section 1009 of the Company Guide. "We have prepared a Compliance Plan to address the requirements outlined by the Exchange in their letter of July 23, 2008. The Plan was respectively submitted to the Exchange on August 27, 2008," says US Dataworks Chairman and CEO Charles Ramey. "It is our belief that we have provided a Plan that will result in the Company's compliance within the timeframe requested by the Exchange." About US Dataworks, Inc. US Dataworks is a developer of payment processing solutions, focused on the Financial Services market, Federal, State and local governments, billers and retailers. Software developed by US Dataworks is designed to enable organizations to transition from traditional paper-based payment and billing processes to electronic solutions that automate end-to-end processes for accepting and clearing checks. Additional information about US Dataworks is available at http://www.usdataworks.com/. Forward-Looking Statements Except for the historical information contained herein, the matters set forth in this press release, including, but not limited to statements regarding the anticipated acceptance of the Compliance Plan by the American Stock Exchange, the Company believes that it has adequately prepared a Plan that, when fully implemented, will result in the Company moving back into compliance with the Exchange's Company Guide. Any forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, but not limited to, the Company's position in the marketplace, our ability to develop and timely introduce products that address market demand, the impact of alternative technological advances and competitive products, market fluctuations and other risks detailed from time to time in the SEC reports of US Dataworks, including its annual report on Form 10-KSB for the period ended March 31, 2008 and its quarterly report on Form 10-QSB for the period ended June 30, 2008. These forward-looking statements speak only as of the date hereof. US Dataworks disclaims any obligation to update these forward-looking statements. Charles Ramey, CEO Donald C. Weinberger US Dataworks, Inc. Wolfe Axelrod Weinberger Assoc. LLC Tel. (281) 504-8100 Tel. (212) 370-4500 Fax (212) 370-4505 DATASOURCE: US Dataworks, Inc. CONTACT: Charles Ramey, CEO of US Dataworks, Inc., +1-281-504-8100; or Donald C. Weinberger of Wolfe Axelrod Weinberger Assoc. LLC, +1-212-370-4500, Fax, +1-212-370-4505, for US Dataworks, Inc. Web site: http://www.usdataworks.com/

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