Sbe (NASDAQ:SBEI)
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From Jun 2019 to Jun 2024
SBE, Inc. (Nasdaq:SBEI), today announced that it has received a letter
from The Nasdaq Stock Market ("Nasdaq") notifying the Company that it
has regained compliance with Nasdaq Marketplace Rule 4210(c)(4), which
contains the $1.00 minimum bid price per share requirement and with
Marketplace Rule 4310(c)(2)(B), which requires the company to maintain
minimum stockholders’ equity of $2.5 million,
or $35.0 million market value of listed securities, or $500,000 of net
income from continuing operations for the most recently completed fiscal
year or two of the three most recently completed fiscal years.
Previously, on January 11, 2007, the Company received a deficiency
letter from Nasdaq indicating that the Company failed to comply with the
minimum bid price requirement of $1.00 as required by the Marketplace
Rules. During the subsequent compliance period provided under the
Marketplace Rules, the closing bid price of the Company's common stock
was at $1.00 per share or greater for at least 10 consecutive business
days. Accordingly, the Nasdaq Staff has informed the Company that it has
regained compliance with Marketplace Rule 4210(c)(4). In addition, on
March 20, 2007 the Company received a deficiency letter from Nasdaq
stating that the Company's failed to maintain the minimum stockholders’
equity as required by the Marketplace Rules. Accordingly, the Nasdaq
Staff has informed the Company that it has regained compliance with
Marketplace Rule 4310(c)(2)(B).
About SBE
SBE designs and provides IP-based storage networking solutions for an
extensive range of business critical applications, including back-up and
disaster recovery. SBE delivers a portfolio of scalable, standards-based
hardware and software products designed to enable optimal performance
and rapid deployment across a wide range of next-generation storage
systems. SBE is based in San Ramon, California. SBE is a publicly traded
company (NASDAQ:SBEI) with products sold worldwide through direct sales,
OEMs and system integration partners. SBE signed a definitive merger
agreement with Neonode, Inc. After shareholder approval of the merger,
the combined company's headquarters will be in Stockholm, Sweden, where
Neonode's current corporate headquarters is located. More information is
available at www.sbei.com.
Forward-Looking Statements
This news release contains certain forward-looking statements that
involve risks and uncertainties, including statements about a merger
with Neonode, Inc. Such statements are only predictions and the company’s
actual results may differ materially from those anticipated in these
forward-looking statements. These factors and others are more fully
discussed in the documents the company files from time to time with the
Securities and Exchange Commission, particularly, the Form 8-K filed
with the Securities and Exchange Commission on the date hereof and the
company's most recent Form 10-K and Form 10-Q.
SBE and the SBE logo are registered trademarks of SBE, Inc.