IRVINE, Calif., July 7 /PRNewswire-FirstCall/ -- PRO-DEX, INC.
(Nasdaq: PDEXD) today announced that The Nasdaq Stock Market has
notified the Company that it has regained compliance with the
minimum $1.00 per share bid price
requirement for continued listing, and further, that it complies
with all other applicable standards for continued listing on The
Nasdaq Stock Market. Accordingly, the Company will continue
to be listed on The Nasdaq Stock Market.
As previously announced, following a hearing before a NASDAQ
Listing Qualifications Panel (the "Panel"), the Panel determined to
continue the Company's listing subject to the condition that, on or
before July 12, 2010, the Company
evidence a closing bid price of $1.00
per share or more for at least the ten prior consecutive trading
days. On July 1, 2010, the
Company's closing bid price was $1.71
per share, the tenth consecutive day it had exceeded the
$1.00 per share threshold.
Accordingly, the Company satisfied the Panel's condition and
the delisting proceeding is now closed.
Pro-Dex, Inc., with operations in California, Oregon and Nevada, specializes in bringing speed to
market in the development and manufacture of technology-based
solutions that incorporate miniature rotary drive systems, embedded
motion control and fractional horsepower DC motors, serving the
medical, dental, semi-conductor, scientific research and aerospace
markets. Pro-Dex's products are found in hospitals, dental
offices, medical engineering labs, commercial and military
aircraft, scientific research facilities and high tech
manufacturing operations around the world.
Statements herein concerning the Company's plans, growth and
strategies may include 'forward-looking statements' within the
context of the federal securities laws. Statements regarding the
Company's future events, developments and future performance, as
well as management's expectations, beliefs, plans, estimates or
projections relating to the future, are forward-looking statements
within the meaning of these laws. The Company's actual results may
differ materially from those suggested as a result of various
factors. Interested parties should refer to the disclosure
concerning the operational and business concerns of the Company set
forth in the Company's filings with the Securities and Exchange
Commission.
SOURCE Pro-Dex, Inc.