MILWAUKEE, Nov. 16 Merge TechnologiesIncorporated, d.b.a. Merge Healthcare (Nasdaq: MRGE; TSX: MRG) (the "Company")today announced that the Company received a written notification from thestaff of The NASDAQ Stock Market on November 13, 2007, stating that theCompany's failure to timely file its Quarterly Report on Form 10-Q for thequarter ended September 30, 2007 would serve as an additional basis fordelisting the Company's common stock from The NASDAQ Stock Market. TheCompany expected to receive the NASDAQ notification due to the Company notfiling its Form 10-Q for the quarter ended September 30, 2007. Thisnotification is in addition to prior NASDAQ staff notifications stating thatthe common stock was subject to delisting because the Company did not timelyfile its Quarterly Report on Form 10-Q for the quarter ended June 30, 2007.
The Company previously announced its receipt of a written notificationfrom the NASDAQ Listing Qualifications Panel stating that the panel determinedto continue the listing of the Company's common stock on the NASDAQ GlobalMarket, subject to the Company's filing its Form 10-Q for the quarter endedJune 30, 2007 and all required restatements by no later than January 29, 2008.The Company will also need to file its Form 10-Q for the quarter endedSeptember 30, 2007 by that date to regain compliance with the NASDAQ listingstandards. The Company expects that it will meet the deadlines set by theNASDAQ Listing Qualifications Panel.
As indicated in the Company's news release dated October 29, 2007, theCompany currently expects to file, on or before December 31, 2007: (i) itsrestated audited financial statements for the years ended December 31, 2004,2005 and 2006, as well as other restated financial information previouslyincluded in the Company's Annual Report on Form 10-K for the year endedDecember 31, 2006, (ii) its restated unaudited financial statements includedin its Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, and(iii) its unaudited Quarterly Reports on Form 10-Q for the quarters ended June30, 2007 and September 30, 2007.
Merge Healthcare is a market leader in the development and delivery ofmedical imaging and information management software and services. Ourinnovative software solutions use leading-edge imaging software technologiesthat accelerate market delivery for our OEM customers, while our end-usersolutions improve our customers' productivity and enhance the quality ofpatient care they provide. For additional information, visit our website athttp://www.mergehealthcare.com.
Cautionary Notice Regarding Forward-Looking Statements
This announcement may include forward-looking statements within themeaning and subject to the protections of Section 27A of the Securities Act of1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Whenused in this announcement, the words "will," "believes," "intends,""anticipates," "expects" and similar expressions of the future are intended toassist you in identifying such forward-looking statements. Suchforward-looking statements include, among others, statements regarding thetiming of our completion of our restatements and filings of related SECreports.
Any number of factors could cause the actual timing or results to differfrom the results contemplated by such forward-looking statements, including,but not limited to: the restatement may take longer to complete thanexpected; the Company's inability to timely file reports with the Securitiesand Exchange Commission; risks associated with the Company's inability to meetthe requirements of The NASDAQ Stock Market for continued listing, includingpossible delisting; risks and effects of the past and current restatement offinancial statements of the Company and other actions that may be taken orrequi