Wireless Ronin Technologies, Inc. Receives Favorable Decision From NASDAQ
MINNEAPOLIS, MN, Nov 29, 2012 (MARKETWIRE via COMTEX) --
Wireless Ronin Technologies, Inc. (NASDAQ: RNIN) announced today
that it has received the decision of the Hearings Panel of The NASDAQ
Stock Market, notifying the Company that it has granted the Company's
request for continued listing of its common stock, subject to certain
The decision followed the Company's failure to comply with the
minimum bid price requirement for continued listing set forth in
NASDAQ Listing Rule 5550(a)(2) and the Company's appeal to the
Hearings Panel of the staff's determination to delist.
In accordance with the Hearings Panel's decision, on or before
December 31, 2012, the Company must evidence a closing bid price of
at least $1.00 per share for a minimum of ten consecutive business
If the Company's common stock does not continue to be listed on The
NASDAQ Capital Market, its shares would become subject to certain
rules of the SEC relating to "penny stocks." Such rules require
broker-dealers to make a suitability determination for purchasers and
to receive the purchaser's prior written consent for a purchase
transaction, thus restricting the ability to purchase or sell the
shares in the open market. In addition, trading, if any, would be
conducted in the over-the-counter market in the so-called "pink
sheets" or on the OTC Bulletin Board, which was established for
securities that do not meet NASDAQ listing requirements.
Consequently, selling the shares would be more difficult because
smaller quantities could be bought and sold, transactions could be
delayed, and security analyst and news media coverage of the Company
may be reduced. These factors could result in lower prices and larger
spreads in the bid and ask prices for the shares. There can be no
assurance that the Company's common stock will continue to be listed
on The NASDAQ Capital Market.
About Wireless Ronin Technologies, Inc.
Wireless Ronin Technologies, Inc. (WRT) (NASDAQ: RNIN)
(www.wirelessronin.com) is a marketing technologies company with
leading expertise in current and emerging digital media solutions
including signage, interactive kiosks, mobile, social media and web,
that enable clients to transform how they engage their customers. WRT
provides marketing technology solutions and services to clients,
helping increase revenue and improve operating efficiencies to
execute marketing initiatives. Since launching RoninCast(R) digital
signage software in 2003, WRT has led the digital signage industry by
bringing leading edge technology, services and support to its
clients. WRT offers an array of services to support its clients'
marketing technology needs including consulting, creative
development, project management, installation, training, and support
and hosting. The company's common stock trades on the NASDAQ Capital
Market under the symbol "RNIN." Follow us on Twitter
(https://twitter.com/wirelessronin) and Pinterest
(http://pinterest.com/rnin/) and like us on Facebook
(https://www.facebook.com/WirelessRonin) under Wireless Ronin.
Darin P. McAreavey
Senior Vice President and Chief Financial Officer
Investor Relations Contact:
Matt Glover or Michael Koehler
Liolios Group, Inc.
SOURCE: Wireless Ronin Technologies
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