INX Announces Receipt of Deficiency Notice from NASDAQ
August 25 2010 - 4:37PM
Business Wire
INX Inc. (NASDAQ: INXI; the “Company”; or “INX”) announced today
that it received a letter on August 19, 2010 from The Nasdaq Stock
Market (the “Nasdaq”) indicating that the Company is not in
compliance with Nasdaq Listing Rules for continued listing because
the Company has not yet filed its Form 10-Q for the period ending
June 30, 2010. As previously disclosed, the Company received the
initial letter from the Nasdaq indicating that the Company
is not in compliance with Nasdaq Listing Rules for continued
listing due to the Company’s failure to timely file its Form 10-K
for the period ended December 31, 2009. The Company has also been
unable to complete its quarterly report on Form 10-Q for the period
ended March 31, 2010. Based on the timing proposed by the Company
in its compliance plan submitted to Nasdaq, Nasdaq granted the
Company an exception until October 12, 2010 to file its Form 10-K
for the period ended December 31, 2009 and its Form 10-Q for the
period ended March 31, 2010.
The Company is required to submit to Nasdaq an update to its
plan to regain compliance with Nasdaq Listing Rules for continued
listing by September 3, 2010. The update is required to address the
Company’s plans to file the Form 10-Q for the period ended June 30,
2010 and to indicate the progress the Company has made towards
implementing the plan submitted in connection with the Form 10-K
for the period ended December 31, 2009. This notification has no
effect on the Company’s listing or on the trading of the Company’s
common stock.
ABOUT INX INC.:
INX Inc. (NASDAQ: INXI) is a leading U.S. provider of IP network
communications and data center solutions for enterprise
organizations. INX offers a suite of advanced technology solutions
focused around the entire life-cycle of enterprise IP network
communications and data center infrastructure. Service offerings
are centered on the design, implementation and support of network
infrastructure, including routing and switching, wireless,
security, unified communications, and data center solutions such as
storage and server virtualization. Customers include enterprise
organizations such as corporations, as well as federal, state and
local governmental agencies. Because of its focus, expertise and
experience implementing and supporting advanced technology
solutions for enterprises, INX is well positioned to deliver
superior solutions and services to its customers. Additional
information about INX can be found on the Web at www.inxi.com.
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