Xura Receives Notice From Nasdaq
December 23 2015 - 5:32PM
Xura, Inc. (“Xura”) (NASDAQ:MESG) received a notification letter
from The Nasdaq Stock Market on December 17, 2015 that it is not in
compliance with Nasdaq Listing Rule 5250(c)(1) because the company
did not timely file its Quarterly Report on Form 10-Q for the
period ended October 31, 2015 with the Securities and Exchange
Commission.
As previously reported, the Company has
completed two material transactions in the past two quarters.
The accounting for these transactions is complex and has placed
substantial burden on the Company’s financial reporting and
accounting personnel. The Company is working diligently to
finalize its financial statements and related disclosures and
evaluate the implications on its controls.
The Nasdaq letter provides that the Company has
until February 15, 2016 to submit a plan to regain
compliance. The Company currently intends to file its Form
10-Q on December 28, 2015 or as soon as practicable
thereafter.
About Xura, Inc.
Xura offers a portfolio of digital services
solutions that enable global communications across a variety of
mobile devices and platforms. We help communication service
providers (“CSPs”) and enterprises navigate and monetize the
digital ecosystem to create innovative, new experiences through our
cloud-based offerings. Our solutions touch more than three billion
end points, through 350+ service providers and enterprises in 140+
countries. You can find us at www.Xura.com.
Forward-Looking Statements
This press release includes “forward-looking
statements.” Forward-looking statements include statements
regarding the company’s expectation in respect of the timing of the
filing its Form 10-Q. In some cases, forward-looking
statements can be identified by the use of terminology such as
“may,” “expects,” “plans,” “anticipates,” “estimates,” “believes,”
“potential,” “projects,” “forecasts,” “intends,” or the negative
thereof or other comparable terminology. By their very nature,
forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause actual
results, performance and the timing of events to differ materially
from those anticipated, expressed or implied by forward-looking
statements. Such risks or uncertainties may give rise to claims or
regulatory issues, increase exposure to contingent liabilities and
cause pressure on the company's stock price. In this filing,
risks relating to the forward-looking statements include (among
other factors), the complexity of the preparation of our financial
statements in light of several recently completed transactions, as
well as the acquisition-related, financial accounting and other
risks set forth in the "Forward-Looking Statements" and Item 1A,
"Risk Factors" and elsewhere in the Company's Annual Report on Form
10-K, its Quarterly Reports on Form 10-Q for the quarters ended
April 30, 2015 and July 31, 2015, or in other subsequently filed
periodic, current or other reports. The company undertakes no
commitment to update or revise any forward-looking statements
except as required by law. The risks and uncertainties discussed
above, as well as others, are discussed in greater detail in our
filings with the SEC. The documents and reports the company files
with the SEC are available through the company, or its website,
www.Xura.com, or through the SEC's Electronic Data Gathering,
Analysis, and Retrieval system (EDGAR) at www.sec.gov.
Todd, Luke - Xura, Inc.
(781) 213-2131
Luke.Todd@Xura.com
Xura, Inc. (NASDAQ:MESG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Xura, Inc. (NASDAQ:MESG)
Historical Stock Chart
From Jul 2023 to Jul 2024