ADDISON, Texas, Feb. 7, 2012 /PRNewswire/ -- ULURU Inc.
(NYSE AMEX: ULU), a specialty pharmaceutical company focused on the
development of a portfolio of wound management and oral care
products, today announced that the Company has received notice from
the NYSE Amex (the "Exchange"), dated February 3, 2012, indicating that the Exchange
has accepted the Company's plans of compliance and granted the
Company an extension until April 2,
2012 to regain compliance with the continued listing
standards of Section 1003(a)(iv) of the Exchange's Company Guide
and an extension until March 21, 2013
to regain compliance with the continued listing standards of
Section 1003(a)(iii) of the Exchange's Company Guide.
Previously, the Company had received notice from the Exchange,
dated December 5, 2011, that the
Company did not meet the provisions of Section 1003(a)(iv) since
the Company has sustained losses which are so substantial in
relation to its overall operations or its existing financial
resources, or its financial condition has become so impaired that
it appears questionable, in the opinion of the Exchange, as to
whether the Company will be able to continue operations and/or meet
its obligations as they mature. The Company had also received
a previous notice from the Exchange, dated September 21, 2011, that the Company was below
the Exchange's stockholders' equity continued listing standards and
did not meet the provisions of Section 1003(a)(iii) since the
Company reported stockholders' equity of less than $6,000,000 at June 30,
2011 and has incurred losses from continuing operations
and/or net losses in its five most recent fiscal years ended
December 31, 2010.
The Company will be subject to periodic review by Exchange Staff
during the extension period. Failure to make progress
consistent with the plans or to regain compliance with the
continued listing standards by the end of each applicable extension
period could result in the Company being delisted from the
Exchange.
About ULURU Inc.:
ULURU Inc. is a specialty pharmaceutical company focused
on the development of a portfolio of wound management and oral care
products to provide patients and consumers improved clinical
outcomes through controlled delivery utilizing its innovative
Nanoflex™ Aggregate technology and OraDisc™ transmucosal delivery
system. For further information about ULURU Inc., please visit
our website at www.ULURUinc.com. For further information about
Altrazeal®, please visit www.Altrazeal.com.
This press release contains certain statements that are
forward-looking within the meaning of Section 27a of the Securities
Act of 1933, as amended. These statements are subject to
numerous risks and uncertainties, including but not limited to
ULURU's compliance with the continued listing standards of the NYSE
Amex, the Company's ability to make progress with the plans of
compliance, the Company's ability to maintain its NYSE Amex
listing, and to risk factors detailed in the Company's Annual
Report on Form 10-K for the year ended December 31, 2010, and other reports filed by us
with the Securities and Exchange Commission.
Contact: Company
Kerry P. Gray
President & CEO
Terry K. Wallberg
Vice President & CFO
(214) 905-5145
SOURCE ULURU Inc.