Prosoft Learning (NASDAQ:POSO)
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Prosoft Learning Corp. (Nasdaq: POSO) today announced it
received a letter from Nasdaq on May 6, 2005, indicating that Prosoft
is not in compliance with Nasdaq Marketplace Rule 4310(c)(4), which
establishes a minimum $1.00 closing bid price per share requirement
for continued listing.
Prosoft will have a period of 180 calendar days following the
notification to achieve compliance. If compliance with the rule cannot
be demonstrated by Nov. 2, 2005, Nasdaq will determine whether the
company meets the initial listing criteria as set forth in Marketplace
Rule 4310(c)(4). If the company meets the initial listing criteria, it
will be eligible for an additional 180-calendar-day compliance period.
If the company is not eligible for an additional compliance period,
Nasdaq will provide written notification that the company's securities
will be delisted. At that time, the company may appeal the
determination to delist its securities to a Listing Qualifications
Panel.
About Prosoft Learning Corp.
Prosoft Learning Corp. offers content and certifications to enable
individuals to develop and validate critical Information and
Communications Technology (ICT) workforce skills. Prosoft is a leader
in the workforce development arena, working with state and local
governments and school districts to provide ICT education solutions
for high school and community college students. Prosoft has created
and distributes a complete library of classroom and e-learning
courses. Prosoft distributes its content through its ComputerPREP
division to individuals, schools, colleges, commercial training
centers and corporations worldwide. Prosoft owns the CIW job-role
certification program for Internet technologies and the CCNT
(Certified in Convergent Network Technologies) certification, and
manages the CTP (Convergence Technologies Professional) vendor-neutral
certification for telecommunications. To learn more, visit
www.ProsoftLearning.com, www.ComputerPREP.com, www.CIWcertified.com
and www.CTPcertified.com.
Forward-Looking Statements
Except for historical information contained herein, the matters
discussed in this press release are statements of a forward-looking
nature that are subject to certain risks and uncertainties that could
cause actual results to differ materially from those projected. Such
risks and uncertainties include, without limitation, the company's
dependence on the timely development, introduction and acceptance of
courses, proprietary certifications and other products; the acceptance
of ICT certifications in general; the continued and improved
penetration of the academic, learning center and corporate markets;
the successful implementation of strategic relationships; the ability
of the company to maintain its Nasdaq SmallCap listing; the effect of
changing economic conditions; and the other risks and uncertainties
outlined in the company's filings with the Securities and Exchange
Commission, including, but not limited to, the company's Annual Report
on Form 10-K/A and Quarterly Reports on Form 10-Q. The company
undertakes no obligation to update this forward-looking information.