LOUISVILLE, Ky., May 21, 2020 /PRNewswire/ -- Creative
Realities, Inc. ("Creative Realities," "CRI," or the "Company")
(NASDAQ: CREX, CREXW), a leading provider of digital marketing
solutions, announced today that based on a notification letter (the
"Notification Letter on Compliance") recently received from the
Listing Qualifications Department of the Nasdaq Stock Market Inc.
(the "Nasdaq"), the Company has regained compliance with the
minimum bid price requirement set forth in Rule 5550(a)(2) of the
Nasdaq Listing Rules (the "Minimum Bid Price Requirement").
On April 28, 2020, the Company
received a notification letter from the Nasdaq (the "Notification
Letter on Deficiency") indicating that the closing bid price per
share had been below $1.00 for a
period of 30 Consecutive business days and that the Company did not
meet the Minimum Price Bid Requirement. According to the
Notification Letter on Deficiency, if at any time during the
Compliance Period, the closing bid price for the Company is at
least $1.00 for a minimum of 10
consecutive business days, Nasdaq will provide the Company a
written confirmation of compliance and the matter will be
closed.
On May 20, 2020, the Company
received a notification letter from Nasdaq (the "Notification
Letter on Compliance"). According to the Notification Letter on
Compliance, the staff of Nasdaq has determined that for the 16
consecutive business days, beginning from April 28, 2020 to May 19,
2020, the closing bid price of the Company's common stock
has been at $1.00 per share or
greater, and the Company has regained compliance with the Minimum
Bid Price Requirement, and the matter is now closed.
About Creative Realities, Inc.
Creative Realities
helps clients use the latest omnichannel technologies to inspire
better customer experiences. Founded over 15 years ago, CRI
designs, develops and deploys consumer experiences for high-end
enterprise level networks, and is actively providing recurring SaaS
and support services for more than fifteen diverse vertical
markets, including but not limited to Automotive, Advertising
Networks, Apparel & Accessories, Convenience Stores,
Foodservice/QSR, Gaming, Theater, and Stadium Venues. The Company
acquired Allure Global Solutions, Inc. in November 2018, expanding the Company's operations
to five offices across North
America with active installations in more than 10
countries.
Cautionary Note on Forward-Looking Statements
This
press release contains certain statements that are "forward-looking
statements" under Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 and includes,
among other things, discussions of our business strategies, future
operations and capital resources. Words such as "estimates,"
"projected," "expects," "anticipates," "forecasts," "plans,"
"intends," "believes," "seeks," "may," "will," "should," "future,"
"propose" and variations of these words or similar expressions (or
the negative versions of such words or expressions) are intended to
identify forward-looking statements.
These forward-looking statements reflect management's present
expectations and estimates regarding future expenses, revenue and
profitability, trends affecting our financial condition and results
of operations, operating efficiencies, revenue opportunities,
potential new markets, and the ability of the Company to
effectively compete in a highly competitive market. Nevertheless,
and despite the fact that management's expectations and estimates
are based on assumptions management believes to be reasonable and
data management believes to be reliable, the Company's actual
results, performance, or achievements are subject to future risks
and uncertainties, any of which could materially adversely affect
the Company's actual performance. Risks and uncertainties
that could adversely affect such performance include, but are not
limited to: the inadequacy of funds for future operations;
future expenses, revenue and profitability; trends affecting
financial condition and results of operations; ability to convert
proposals into customer orders; the ability of customers to pay for
products and services; the acceptance of our products in the
marketplace; the impact of changing customer requirements upon
revenue recognition; customer cancellations; the availability and
terms of additional capital; ability to develop, market and sell
new products; dependence on key suppliers, manufacturers and
strategic partners; industry trends and the competitive
environment; increased competition from our better capitalized
competitors; the impact of the Company's financial condition upon
customer and prospective customer relationships; and the impact of
losing one or more senior executives or failing to attract
additional key personnel. These and other risk factors are
discussed in Company reports filed with the Securities and Exchange
Commission.
Given these uncertainties, and the fact that forward-looking
statements represent management's estimates and assumption as of
the date of this press release, you should not attribute undue
certainty to these forward-looking statements. We assume no
obligation to update any forward-looking statements publicly, or to
update the reasons why actual results could differ materially from
those anticipated in any forward-looking statements contained in
this press release, even if new information becomes available in
the future.
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SOURCE Creative Realities, Inc.