Ace Comm Corp (MM) (NASDAQ:ACEC)
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ACE*COMM Corporation (NASDAQ: ACEC),
a global provider of value-added services and advanced operations
support systems (OSS) solutions, today reported that NASDAQ has notified
the company it is not in compliance with a continuous listing
requirement for inclusion on the NASDAQ Capital Market. Cited was NASDAQ
Marketplace Rule 4310(c)(3), which requires the Company to have a
minimum of $2,500,000 in stockholders’ equity
or $35,000,000 market value of listed securities or $500,000 of net
income from continuing operations for the most recently completed fiscal
year or for two of the three most recently completed fiscal years.
Consequently, NASDAQ is reviewing the Company’s
eligibility for continuous listing on the Nasdaq Capital Market. To
facilitate this review, the Company intends to provide, on or before,
June 7, 2007, its specific plan to achieve and sustain compliance with
all the Nasdaq Capital Market listing requirements, including the time
frame for completing that plan. If, after the conclusion of the review
process, Nasdaq determines that the company’s
plan does not adequately address the issues noted, the company will be
provided with written notification that its securities will be delisted.
At that time, the Company may appeal the decision to the Nasdaq Listing
Qualifications Panel. The appeal process will suspend delisting until a
determination is made by the Panel.
About ACE*COMM
ACE*COMM is a global provider of advanced operations support systems
(OSS) and service delivery solutions for telecommunications service
providers and enterprises. ACE*COMM’s
solutions are applicable to a range of legacy through next-generation
networks that include wired, wireless, voice, data, multimedia and
Internet communications networks. These solutions provide the analytical
tools required to extract knowledge from operating networks –
knowledge that network operators use for asset recovery and revenue
assurance, cost reduction, improved operational efficiency, acceleration
of time to market for new services, and more effective customer care.
ACE*COMM’s service delivery solutions provide
mobile service providers with award-winning, in-demand consumer-oriented
services to help them achieve and sustain market share, generate new
revenue and position themselves as market innovators.
For more than 20 years, ACE*COMM technology has been effectively
deployed for more than 300 customers, spanning more than 4000
installations in 70 countries worldwide. ACE*COMM-installed products are
currently enabling the success of customers and partners such as
Alcatel, AT&T, Cisco, General Dynamics, IBM, Level 3 Communications,
Marconi, Motorola, Northrop Grumman, Siemens, and Unisys. Headquartered
in Gaithersburg, MD, near Washington, DC, area, ACE*COMM has corporate
offices in Australia, Canada, China, and the UK. ACE*COMM is an ISO 9001
quality standard complaint company. For more information, visit www.acecomm.com.
Except for historical information, the matters discussed in this news
release include forward-looking statements that are subject to certain
risks and uncertainties that could cause the actual results to differ
materially from those projected, including, but not limited to: the
failure of anticipated demand to materialize, delays or cancellations of
orders due to various factors, including business and economic
conditions in the U.S. and foreign countries; industry-wide slowdowns,
any limitations on customers’ financial
resources, the continued convergence of voice and data networks, the
continuing success of the Company’s strategic
alliances for product development and marketing, customer purchasing and
budgetary patterns or lack thereof; pricing pressures and the impact of
competitive products; the timely development and acceptance of new
products; the Company’s ability to adequately
support its operations, and other risks detailed from time to time in
the Company’s Report on Form 10-Q and other
reports filed with the Securities Exchange Commission.