InfoLogix granted extension of time to regain compliance with NASDAQ listing requirements

Jul 14 2010

InfoLogix, Inc. (Nasdaq: IFLG), a leading technology provider of enterprise mobility solutions for the healthcare and commercial industries, today announced that it received a letter from NASDAQ on July 8, 2010, stating that a NASDAQ Hearings Panel (the "Panel") granted the Company's request for an extension of time, as permitted under NASDAQ's Listing Rules, to regain compliance with the $2.5 million minimum stockholders' equity requirement for continued listing on the NASDAQ Stock Market.  As previously disclosed, NASDAQ notified the Company on April 20, 2010 that it had not regained compliance with the minimum stockholders' equity requirement and that the Company's common stock was subject to delisting unless the Company requested a hearing. The Company timely requested a hearing and appeared before the Panel on June 10, 2010.  

The extension granted by the Panel requires, among other things, the occurrence of certain events by August 15, 2010 and the Company's ability to regain compliance with all the requirements for continued listing on NASDAQ by October 18, 2010.  Under NASDAQ's Listing Rules, this date represents the maximum length of time that a Panel may grant to regain compliance.  While the Company is diligently taking steps to comply with the Panel decision, there can be no assurances that the Company will be able to do so.