Focus Enhancements Receives Nasdaq Bid Deficiency Letter; Company Has Six Months to Regain Compliance with Minimum Bid Price Ru
June 30 2006 - 4:15PM
Business Wire
Focus Enhancements, Inc. (NASDAQ CAPITAL:FCSE), a worldwide leader
in video production and conversion technology, today announced that
on June 27, 2006, it received a letter from The Nasdaq Stock Market
notifying the company that for the last 30 consecutive business
days, the bid price of the company's common stock has closed below
the minimum $1.00 per share price requirement for continued
inclusion under Nasdaq Marketplace Rule 4310(c)(4). Focus
Enhancements has 180 calendar days to regain compliance with the
Nasdaq Capital Market $1.00 minimum bid price rule. If at any time
before December 26, 2006, 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, Nasdaq will notify the company that it
is in compliance with the Rules. If Focus Enhancements does not
regain compliance within the allotted compliance period, including
any extensions that may be granted by Nasdaq, Nasdaq staff will
notify the company that its common stock will be delisted from The
Nasdaq Capital Market. Focus Enhancements would then be entitled to
appeal the Staff's determination to a Nasdaq Listing Qualifications
Panel and request a hearing. About Focus Enhancements, Inc. Focus
Enhancements Inc. (NASDAQ CAPITAL:FCSE), headquartered in Campbell,
CA, is a leading designer of world-class solutions in advanced,
proprietary video and wireless video technologies. The company's
Semiconductor Group develops integrated circuits (ICs) for
high-performance applications in the video convergence market,
including IPTV set-top boxes and portable media players. Focus
Enhancements is currently developing a wireless IC chip set based
on the WiMedia UWB standard and designed to be compatible with
Wireless USB and used in personal computer (PC), consumer
electronics (CE), and mobile electronics applications. The
company's System Group develops video products for the digital
media markets, with customers in the broadcast, video production,
digital signage and digital asset management markets. More
information on Focus Enhancements may be obtained from the
company's SEC filings, or by visiting the Focus Enhancements home
page at http://www.Focusinfo.com. Safe Harbor Statement Statements
in this press release which are not historical, including
statements regarding management's intentions, hopes, expectations,
representations, plans or predictions about the future, are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements include
statements regarding management's plans to retain the company's
Nasdaq listing. Because these forward-looking statements involve
risks and uncertainties, there are important factors that could
cause our actual results to differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially include the risk factors specified in the
company's Form 10-K for the year ended December 31, 2005,Form 10-Q
for the period ended March 31, 2006, as well as other filings with
the SEC. These statements are based on information as of June 30,
2006 and the company assumes no obligation to update any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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