iMergent Regains Compliance with AMEX Listing Standards
March 21 2006 - 5:45PM
Business Wire
iMergent, Inc. (AMEX:IIG), a leading provider of eCommerce and
software for small businesses and entrepreneurs, today announced
that the company has regained compliance with the American Stock
Exchange (AMEX) requirements set forth in Sections 134 and 1101 of
the AMEX company guide after the company filed its Form 10-K for
the fiscal year ended June 30, 2005 and Forms 10-Q for the periods
ended September 30, 2005 and December 31, 2005 on March 9, 2006. In
a letter dated March 16, 2006, the AMEX notified the company that
its continued listing deficiencies had been resolved. As a result,
the company continues to be listed on the AMEX exchange, subject to
the continued listing eligibility requirements and ongoing review
applicable to all issuers. As previously announced, the company
received a notice from the AMEX on February 28, 2006 indicating the
company was subject to potential delisting from the exchange as the
company had not yet filed its Form 10-Q for its quarterly period
ended December 31, 2005 in accordance with Sections 134 and 1101 of
the AMEX Company Guide. The AMEX notified the company in a letter
dated January 31, 2006 that its stock was subject to being delisted
as it had not met the requirement of its current plan of compliance
to submit its Form 10-K for the fiscal year ended June 30, 2005 and
Form 10-Q for the period ended September 30, 2005 by January 31,
2006. About iMergent iMergent provides eCommerce solutions to
entrepreneurs and small businesses enabling them to market and sell
their business products or ideas via the Internet. Headquartered in
Orem, Utah the Company sells its proprietary StoresOnline software
and training services, helping users build a successful Internet
strategy to market products, accept online orders, analyze
marketing performance, and manage pricing and customers. In
addition to software, iMergent offers site development, web
hosting, marketing and mentoring products. iMergent typically
reaches its target audience through a concentrated direct marketing
effort to fill Preview Sessions, in which a StoresOnline expert
reviews the product opportunities and costs. These sessions lead to
a follow-up Workshop Conference, where product and technology
experts train potential users on the software and encourage them to
make purchases. iMergent, Inc. and StoresOnline are trademarks of
iMergent, Inc. Safe Harbor Statement Statements made in this press
release that are not historical in nature constitute
forward-looking statements within the meaning of the Safe Harbor
Provisions of the Private Securities Litigation Reform Act of 1995.
Such statements are based on the current expectations and beliefs
of the management of iMergent and are subject to a number of
factors and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
Such risks and uncertainties include, without limitation, the
Company's continued ability to maintain operations; the ability to
continue to provide domestic and international workshops; the
ability of the Company to maintain American Stock Exchange listing
requirements on an ongoing basis; the results of the Securities and
Exchange Commission Division of Corporation Finance's review of the
delinquently filed 2005 Form 10-K and Forms 10-Q for the quarters
ended September 30, 2005 and December 31, 2005; the possibility
that the Securities and Exchange Commission Division of Enforcement
may initiate an enforcement action against the Company or any of
its officers or directors; the Company's material weaknesses in
internal controls could prevent the Company from timely meeting its
future reporting requirements; and the volatility in its stock
price pending resolution or resulting from the matters discussed
above. For a more detailed discussion of factors that affect
iMergent's operating results, please refer to Management's
Discussion and Analysis of Financial Condition and Results of
Operations in its Form 10-K for the year ended June 30, 2005 and
its Forms 10-Q for the quarterly periods ended September 30, 2005
and December 31, 2005. The Company undertakes no obligation to
update this forward-looking information.
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