Zix Corporation Exceeds Nasdaq Bid Price Requirement to Regain Full Compliance with Listing Criteria
November 03 2006 - 2:06PM
Business Wire
Zix Corporation (ZixCorp�), (Nasdaq:ZIXI), the leader in hosted
services for email encryption and e-prescribing, announced today
that it has received a notice from the Nasdaq Listing
Qualifications Department, which states that the company now meets
the requirements for continued listing on the Nasdaq by having
exceeded the $1 minimum bid price for at least 10 consecutive
business days as set forth in Nasdaq Marketplace Rule 4450(b)(4).
As previously announced last week, the Company also regained
compliance with the $50 million market capitalization requirement
set forth in Nasdaq Marketplace Rule 4450(b)(1)(A). Because it is
now in compliance with these two requirements, the Company will
continue trading on the Nasdaq Global Market, formerly known as the
Nasdaq National Market. �We recognize that our Nasdaq listing is
important to our shareholders, so we are pleased to have these
issues resolved,� said Rick Spurr, chairman and chief executive
officer for ZixCorp. �More importantly, we are confident that the
underlying fundamentals of the Company have never been stronger. We
have delivered on our commitment to dramatically improve the
efficiency of our operations, the impact of which we are now
beginning to see in our financial results. We remain on our stated
path to further reduce the Company�s cash usage on the way to
becoming cash flow positive. With these issues now behind us, the
focus can return to the continued progress of both of our core
businesses.� About Zix Corporation ZixCorp is the leading provider
of hosted email encryption and e-prescribing services. ZixCorp's
hosted Email Encryption Service provides an easy and cost-effective
way to ensure customer privacy and regulatory compliance for
corporate email. Its PocketScript� e-prescribing service reduces
costs and improves patient care by automating the prescription
process between payors, doctors, and pharmacies. For more
information, visit www.zixcorp.com. Zix Corporation (ZixCorp(R)),
(Nasdaq:ZIXI), the leader in hosted services for email encryption
and e-prescribing, announced today that it has received a notice
from the Nasdaq Listing Qualifications Department, which states
that the company now meets the requirements for continued listing
on the Nasdaq by having exceeded the $1 minimum bid price for at
least 10 consecutive business days as set forth in Nasdaq
Marketplace Rule 4450(b)(4). As previously announced last week, the
Company also regained compliance with the $50 million market
capitalization requirement set forth in Nasdaq Marketplace Rule
4450(b)(1)(A). Because it is now in compliance with these two
requirements, the Company will continue trading on the Nasdaq
Global Market, formerly known as the Nasdaq National Market. "We
recognize that our Nasdaq listing is important to our shareholders,
so we are pleased to have these issues resolved," said Rick Spurr,
chairman and chief executive officer for ZixCorp. "More
importantly, we are confident that the underlying fundamentals of
the Company have never been stronger. We have delivered on our
commitment to dramatically improve the efficiency of our
operations, the impact of which we are now beginning to see in our
financial results. We remain on our stated path to further reduce
the Company's cash usage on the way to becoming cash flow positive.
With these issues now behind us, the focus can return to the
continued progress of both of our core businesses." About Zix
Corporation ZixCorp is the leading provider of hosted email
encryption and e-prescribing services. ZixCorp's hosted Email
Encryption Service provides an easy and cost-effective way to
ensure customer privacy and regulatory compliance for corporate
email. Its PocketScript(R) e-prescribing service reduces costs and
improves patient care by automating the prescription process
between payors, doctors, and pharmacies. For more information,
visit www.zixcorp.com.
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