Rennova Health, Inc. Complies with Nasdaq Rule 5550(b)
June 14 2016 - 8:30AM
Business Wire
Rennova Health, Inc. (NASDAQ:RNVA), (NASDAQ:RNVAW), a
vertically integrated provider of industry-leading diagnostics and
supportive software solutions to healthcare providers announced
today that on June 8, 2016, Nasdaq confirmed that the Company
complies with Nasdaq Rule 5550(b)(3) due to the fact that the
Company had net income from continuing operations in excess of
$500,000 in two of the three most recently completed fiscal years.
Nasdaq had previously written to the Company on April 26, 2016
stating that the Company did not comply with the minimum
stockholders’ equity requirement under Nasdaq Rule 5550(b)(1).
However, after consultation with the Company, Nasdaq determined
that the Company does comply with Listing Rules 5550(b) and this
matter is now closed.
The Company remains under notification from Nasdaq that the bid
price of the Company's common stock closed below the minimum $1.00
per share bid price requirement for continued listing under Nasdaq
Rule 5550(a)(2) (the "Rule"). In accordance with Nasdaq Rule
5810(c)(3)(A), the Company has until September 12, 2016 to regain
compliance. If at any time before September 12, 2016, the bid price
of the Company's common stock closes at $1.00 per share or more for
a minimum of 10 consecutive business days, the Company will regain
compliance with the Rule. If the Company does not regain compliance
by September 12, 2016, an additional 180 days may be granted to
regain compliance, as long as the Company meets The Nasdaq Capital
Market initial listing criteria (except for the bid price
requirement).
Seamus Lagan, Chief Executive Officer of Rennova Health,
commented, “We are pleased to meet the listing requirements as set
forth in Listing Rule 5550(b), and we will continue to monitor our
share price and assess our options to maintain our Nasdaq listing
with regard to Nasdaq Rule 5550(a)(2).”
About Rennova Health, Inc.
Rennova Health provides industry-leading diagnostics and
supportive software solutions to healthcare providers, delivering
an efficient, effective patient experience and superior clinical
outcomes. Through an ever-expanding group of strategic brands that
work in unison to empower customers, we are creating the next
generation of healthcare. For more information, please visit
www.rennovahealth.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Actual results
may differ from expectations and, consequently, you should not rely
on these forward-looking statements as predictions of future
events. Words such as “expect,” “estimate,” “project,” “budget,”
“forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,”
“should,” “believes,” “predicts,” “potential,” “continue,” and
similar expressions are intended to identify such forward-looking
statements. These forward-looking statements involve significant
risks and uncertainties that could cause the actual results to
differ materially from the expected results. Additional information
concerning these and other risk factors are contained in the
Company’s most recent filings with the Securities and Exchange
Commission. The Company cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. The Company does not undertake or accept any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in their expectations or any change in events, conditions or
circumstances on which any such statement is based, except as
required by law.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160614005383/en/
Rennova HealthSebastien Sainsbury,
561-666-9818ssainsbury@rennovahealth.comorInvestorsLHAKim Golodetz,
212-838-3777kgolodetz@lhai.comorBruce Voss,
310-691-7100Bvoss@lhai.com