PRINCETON, N.J., July 27, 2016 /PRNewswire/ -- Dataram Corporation
(NASDAQ: DRAM), an independent manufacturer of memory products and
provider of performance solutions, today reported that it has
received formal notification from the Listing Qualifications
Department of The NASDAQ Stock Market ("NASDAQ") notifying Dataram
that it has regained compliance with Listing Rule 5550(a)(2), the
minimum bid price requirement for continued listing on The NASDAQ
Stock Market, and that the matter is now closed. Dataram's
common stock will continue to be listed on The NASDAQ Capital
Market.
On January 27, 2016, NASDAQ
notified the Company that its common stock failed to maintain a
minimum bid price of $1.00 over the
previous 30 consecutive business days as required by NASDAQ's
Listing Rules. On July 11, 2016,
Dataram effected a one for three (1 for 3) reverse split of its
outstanding common stock in order to increase its stock price to
above the required $1 per share,
which was effective with NASDAQ at the open of trading on
July 11, 2016. Since then,
NASDAQ has determined that for the 10 consecutive business days
from July 11, 2016 to July 25, 2016, the closing bid price of the
Company's common stock has been at $1.00 per share or greater. On
July 26, 2016, NASDAQ provided
confirmation to Dataram of the foregoing and that the Company has
regained compliance with Listing Rule 5550(a)(2).
Dataram's common stock trades on The NASDAQ Capital Market under
the symbol "DRAM."
"We are very pleased to have regained compliance with NASDAQ's
listing rules," said Dave Moylan,
Chairman and Chief Executive Officer (CEO) of the Company.
"Maintaining our NASDAQ listing is vital to our Company, our
shareholders and customers as we continue to execute our plan to
transform Dataram. We believe our shareholders will
benefit from the enhanced liquidity provided by the listing of the
Company's shares on The NASDAQ Capital Market."
About Dataram Corporation
Dataram is an independent
manufacturer of memory products and provider of performance
solutions that increase the performance and extend the useful life
of servers, workstations, desktops and laptops sold by leading
manufacturers such as Dell, Cisco, Fujitsu, HP, IBM, Lenovo and
Oracle. Dataram's memory products and solutions are sold worldwide
to OEMs, distributors, value-added resellers and end users.
Additionally, Dataram manufactures and markets a line of Intel
Approved memory products for sale to manufacturers and assemblers
of embedded and original equipment. 70 Fortune 100 companies are
powered by Dataram. Founded in 1967, the Company is a US based
manufacturer, with presence in the United
States, Europe and
Asia. For more information about
Dataram, visit www.dataram.com.
Safe Harbor
Matters discussed in this press release
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. When used in this
press release, the words "anticipate," "believe," "estimate,"
"may," "intend," "expect" and similar expressions identify such
forward-looking statements. Actual results, performance or
achievements could differ materially from those contemplated,
expressed or implied by the forward-looking statements contained
herein. These forward-looking statements are based largely on the
expectations of the Company and are subject to a number of risks
and uncertainties. These risks include, but are not limited to,
risks and uncertainties associated with the price of the Company's
common stock and its ability to satisfy the continued listing
standards of The NASDAQ Stock Market, the impact of economic,
competitive and other factors affecting the Company and its
operations, markets, products, changes in the price of
memory chips, changes in the demand for memory systems, increased
competition in the memory systems industry, order cancellations,
delays in developing and commercializing new products, risks
related to the Company's previously announced acquisition
target, U.S. Gold Corp., faced by junior exploration companies
generally engaged in pre-production activities; maintenance of
important business relationships; and other factors described in
the Company's most recent Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K,
including the Risk Factors with respect to U.S. Gold
contained in the Current Report on Form 8-K filed on June 13, 2016, filed with the Securities and
Exchange Commission, which can be reviewed
at www.sec.gov. The Company has based
these forward-looking statements on its current expectations and
assumptions about future events. While management considers
these expectations and assumptions to be reasonable, they are
inherently subject to significant business, economic, competitive,
regulatory, and other risks, contingencies, and uncertainties, most
of which are difficult to predict and many of which are beyond the
Company's control. The Company does not assume any
obligations to update any of these forward-looking
statements.
For additional information, please contact:
Robert
Haag
Managing Director
IRTH Communications
866-976-4784
DRAM@irthcommunications.com
Dataram Contact:
Jeffrey Goldenbaum
Director, Marketing
609-799-0071
info@dataram.com
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SOURCE Dataram Corporation