Corgi International Limited Announces Receipt of Letter From Nasdaq Regarding Noncompliance With the Minimum Stockholder’s ...
24 Ottobre 2008 - 1:00AM
Business Wire
Corgi International Limited (Nasdaq GM:CRGI) today announced that
it received notice on October 20, 2008 from the staff of The Nasdaq
Stock Market, LLC (Staff) indicating that based on the Form 20-F
for the period ended March 31, 2008, Staff determined that the
Company�s stockholders� equity was $(8,289,789). Accordingly, the
Company does not comply with the minimum $10,000,000 stockholders�
equity requirement for continued listing on The Nasdaq Global
Market set forth in Marketplace Rule 4450(a)(3). Given the
Company�s failure to satisfy the minimum stockholders� equity
standard, Staff is reviewing the Company's eligibility for
continued listing on The Nasdaq Global Market. To facilitate this
review, the Company will provide Nasdaq on or before November 4,
2008, a specific plan to achieve and sustain compliance with all
Nasdaq Global Market listing requirements, including the minimum
stockholders� equity standard. The Company will also indicate the
Company�s time frame to complete its plan. About Corgi
International Corgi International Limited is a global Pop Culture
company, which develops and markets innovative and high-quality
licensed and non-licensed toys, gifts and collectables distributed
via direct, specialty, hobby, collector and mass retail channels
worldwide. Marketed under the brand names Master Replicas, PopCo
and H2go, the Company�s line of products range from premium
entertainment prop replicas and limited edition memorabilia to
traditional toys and gift merchandise. The Company holds varying
licenses for many of entertainment�s highest grossing franchises
including Disney Classics, Harry Potter, James Bond, Star Trek,
Nintendo, Halo and The Beatles, amongst others. Corgi International
Limited also has partnerships with cutting edge technology
innovators around the world. The Company is headquartered in Hong
Kong, with operations in Walnut Creek, California, USA and in
Watford and Leicester, UK. �Safe Harbor� Statement under the U.S.
Private Securities Litigation Reform Act of 1995: Certain
statements contained in this press release may be forward-looking.
These statements are subject to risks and uncertainties that could
cause actual results to differ materially from those anticipated.
Such risks and uncertainties include, without limitation, changes
in market demand for Corgi International products, changes in
economic conditions, dependence on certain customers and licensing
partners, and other risks described in the Company's annual report
on Form 20-F for the fiscal year ended March 31, 2008. The Company
undertakes no obligation to update these forward-looking statements
to reflect subsequent events or circumstances.
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