AUSTIN, Texas, July 6, 2016 /PRNewswire/ -- Crossroads Systems,
Inc. (NASDAQ: CRDS), an intellectual property licensing company,
today announced that on July 5,
2016 it received notification from The NASDAQ Stock Market
("Nasdaq") that Crossroads has regained compliance with the Nasdaq
Listing Rule 5550(a)(2) requirement for continued listing on Nasdaq
and that this matter is now closed.
About Crossroads Systems
Crossroads Systems, Inc.
(NASDAQ: CRDS) is an intellectual property licensing company
headquartered in Austin, Texas.
Founded in 1996 as a product solutions company, Crossroads created
some of the storage industry's most fundamental patents and has
licensed patents to more than 50 companies since 2000. Visit
www.crossroads.com.
Important Cautions Regarding Forward-Looking
Statements
This press release includes
forward-looking statements that relate to the business and expected
future events or future performance of Crossroads Systems, Inc. and
involve known and unknown risks, uncertainties and other factors
that may cause its actual results, levels of activity, performance
or achievements to differ materially from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. Words such as, but not
limited to, "believe," "expect," "anticipate," "estimate,"
"intend," "plan," "targets," "likely," "will," "would," "could,"
and similar expressions or phrases identify forward-looking
statements. Forward-looking statements include, but are not limited
to, statements about Crossroads Systems' ability to implement its
business strategy, changes in the fair value of its derivative
instruments and its ability to achieve or maintain profitability.
The future performance of Crossroads Systems may be adversely
affected by the following risks and uncertainties: variations in
quarterly results, the ability to obtain, maintain or protect
patent and other proprietary intellectual property rights,
developments in litigation to which we may be a party,
technological change in the industry, future capital requirements,
regulatory actions or delays and other factors that may cause
actual results to be materially different from those described or
anticipated by these forward-looking statements. For a more
detailed discussion of these factors and risks, investors should
review Crossroads Systems' reports on Form 10-K, Form 10-Q,
Form 8-K and other reports filed with the Securities and Exchange
Commission, which can be accessed through the SEC's website or by
clicking "SEC Filings" on the Company's Investor Relations website
at http://investors.crossroads.com. Forward-looking
statements in this press release are based on management's beliefs
and opinions at the time the statements are made. All
forward-looking statements are qualified in their entirety by this
cautionary statement, and Crossroads Systems undertakes no
duty to update this information to reflect future events,
information or circumstances.
©2016 Crossroads Systems, Inc., Crossroads and Crossroads
Systems are registered trademarks of Crossroads Systems, Inc. All
trademarks are the property of their respective owners. All
specifications are subject to change without notice.
Contact:
Mark Hood
Crossroads Systems
ir@crossroads.com
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SOURCE Crossroads Systems