Asta Funding, Inc. Announces Receipt of Nasdaq Compliance Letter
May 30 2017 - 4:00PM
Asta Funding, Inc. (NASDAQ:ASFI) (“Asta” or the “Company”)
announced today that on May 30, 2017, it received a letter from
Nasdaq (“Nasdaq”) stating that, in light of the Company’s May 26,
2017 filing of its Quarterly Report on Form 10-Q for the period
ended March 31, 2017, Nasdaq determined that the Company has
regained compliance with Nasdaq’s continued listing requirements
set forth in Nasdaq Listing Rule 5250(c)(1).
About Asta Funding, Inc.
Asta Funding, Inc. (NASDAQ:ASFI), headquartered
in Englewood Cliffs, New Jersey, is a diversified financial
services company that assists consumers and serves investors
through the strategic management of four complementary business
segments: Personal Injury Claims, Structured Settlements, Consumer
Debt and Disability Advocacy. Founded in 1994 as a sub-prime auto
lender, Asta now manages business units that include funding of
personal injury claims through its wholly owned subsidiary, Simia
Capital, LLC; structured settlements through its wholly owned
subsidiary, CBC Settlement Funding LLC; acquiring and managing
international distressed consumer receivables through its wholly
owned subsidiary, Palisades Acquisitions LLC; and benefits advocacy
through its wholly owned subsidiary, GAR Disability Advocates, LLC.
For additional information, please visit our website at
http://www.astafunding.com.
Cautionary Note Regarding Forward-Looking
Statements
All statements in this news release other than
statements of historical facts, including without limitation,
statements regarding our future financial position, business
strategy, budgets, projected revenues, projected costs, and plans
and objectives of management for future operations, are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as "may," "will," "expects,"
"intends," "plans," "projects," "estimates," "anticipates," or
"believes" or the negative thereof, or any variation thereon, or
similar terminology or expressions. We have based these
forward-looking statements on our current expectations and
projections about future events. These forward-looking statements
are not guarantees and are subject to known and unknown risks,
uncertainties and assumptions about us that may cause our actual
results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity,
performance or achievements expressed or implied by such
forward-looking statements. Important factors which could
materially affect our results and our future performance include,
without limitation, our ability to purchase defaulted consumer
receivables at appropriate prices, changes in government
regulations that affect our ability to collect sufficient amounts
on our defaulted consumer receivables, our ability to employ and
retain qualified employees, changes in the credit or capital
markets, changes in interest rates, deterioration in economic
conditions, negative press regarding the debt collection industry
which may have a negative impact on a debtor's willingness to pay
the debt we acquire, and statements of assumption underlying any of
the foregoing, as well as other factors set forth under "Item 1A.
Risk Factors" in our Annual Report on Form 10-K for the year ended
September 30, 2016, and other filings with the U.S. Securities and
Exchange Commission (the “SEC”). All subsequent written and oral
forward-looking statements attributable to us, or persons acting on
our behalf, are expressly qualified in their entirety by the
foregoing. Except as required by law, we assume no duty to update
or revise any forward-looking statements.
Investor Contact:
Bruce R. Foster, CFO
Asta Funding, Inc.
(201) 567-5648
Asta Funding (NASDAQ:ASFI)
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