Advertisement
If, at any time before December 8, 2008, the bid price of the Company'scommon shares closes at $1.00 per share or more for a minimum of 10consecutive business days (and under certain circumstances, more than 10trading days), Nasdaq will provide written notification that it has achievedcompliance with the Minimum Bid Price Rule. If the Company does not regaincompliance with the Minimum Bid Price Rule by December 8, 2008, Nasdaq willdetermine whether the Company meets the Nasdaq Capital Market initial listingcriteria as set forth in Marketplace Rule 4310(c), except for the bid pricerequirement. If it meets the initial listing criteria, Nasdaq will notify theCompany that it has been granted an additional 180 calendar day complianceperiod. If the Company is not eligible for an additional compliance period,Nasdaq will provide written notification that the Company's common shares willbe delisted. At that time, the Company may appeal Nasdaq's determination todelist its common shares to a Nasdaq Listing Qualifications Panel.
Advertisement
About DATATRAK International
DATATRAK International, Inc. is a worldwide technology company focused onthe provision of multi-component eClinical solutions and related services forthe clinical trials industry. The Company delivers a complete portfolio ofsoftware products that were created in order to accelerate clinical researchdata from investigative sites to clinical trial sponsors and ultimately theFDA, faster and more efficiently than manual methods or loosely integratedtechnologies. DATATRAK's eClinical software suite can be deployed worldwidethrough an ASP offering or in a licensed Enterprise Transfer model that fullyempowers its clients. The DATATRAK software suite and its earlier versionshave successfully supported hundreds of international clinical trialsinvolving thousands of clinical research sites and encompassing tens ofthousands of patients in 59 countries. DATATRAK International, Inc.'s productsuite has been utilized in some aspect of the clinical development of 16 drugsand one medical device that have received regulatory approval from either theUnited States Food and Drug Administration or counterpart European bodies.DATATRAK International, Inc. has offices located in Cleveland, Ohio, andBryan, Texas. Its common stock is listed on the NASDAQ stock Market under theticker symbol "DATA". Visit the DATATRAK International, Inc. web site atwww.datatrak.net
Except for the historical information contained in this press release, thestatements made in this release are forward-looking statements. Theseforward-looking statements are made based on management's expectations andbeliefs concerning future events impacting the Company and are subject touncertainties and factors (including those specified below) which aredifficult to predict and, in many instances, are beyond the control of theCompany. Factors that may cause actual results to differ materially from thosein the forward-looking sta
