Smith Micro Regains Compliance With NASDAQ Minimum Bid Price Rule
ALISO VIEJO, CA--(Marketwired - Nov 26, 2013) - Smith Micro Software, Inc. (NASDAQ: SMSI) today announced that it has received notice from the NASDAQ stock market ("NASDAQ") that the Company has regained compliance with the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market.
As previously reported, NASDAQ notified the Company on November 7, 2013 that the bid price of the Company's common stock had closed below the minimum $1.00 per share requirement over the previous 30 consecutive business days and, as a result, the Company was not in compliance with Listing Rule 5450(a)(1). On November 25, 2013, NASDAQ notified the Company that the closing bid price of its common stock has been at $1.00 per share or greater for at least 10 consecutive business days. Accordingly, NASDAQ has confirmed to the Company that it has regained compliance with the minimum bid price rule and the matter is now closed.
"As mentioned during our last earnings call, we've made great strides to right-size our expense structure while refining our product and go-to-market strategies to bring new revenue streams to bear," said William W. Smith, Jr., President and CEO of Smith Micro Software. "I'm confident that our hard work will pay off in 2014, and we look forward to a more stable and profitable year that should build on improved revenue growth in Q4 of this year."
About Smith Micro Software, Inc.:
Smith Micro Software provides solutions that simplify, secure and enhance the mobile experience. Our portfolio includes a wide range of applications that manage broadband connectivity, data traffic, devices, voice and video communications over wireless networks. With 30 years of experience developing world-class client and server software, Smith Micro helps the leading mobile network operators, device manufacturers and enterprises increase efficiency and capitalize on the growth of mobile-connected consumers and workforces. For more information, visit smithmicro.com. (NASDAQ: SMSI)
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