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Press Releases

Contacts: 
Contact:
Assaf Ran, CEO
(212) 489-6800
SOURCE: DAG Media, Inc.

DAG Media Received a 180 days’ Notice to Regain a One Dollar Minimum Bid Price Required by Nasdaq for Continued Listing

NEW YORK, April 18, 2008 / PRIME NEWSWIRE/ -- DAG Media, Inc. (Nasdaq: DAGM) announced today it has received a letter from the Nasdaq on April 16, 2008 indicating that it has a period of 180 days to rectify its compliance with nasdaq stock market continued listing standards as described below.


On April 16, 2008, DAG Media, Inc. (the “Company”), received a letter from the NASDAQ Stock Market ("Nasdaq") indicating that the bid price per share for the Company's common stock for the last 30 consecutive business days had closed below the $1.00 minimum bid price required for continued listing under  Marketplace Rule 4310(c)(4).


Pursuant to Nasdaq Marketplace Rule 4310(c)(8)(D), the Company has 180 calendar days, or until October  13, 2008, to regain compliance with the rule.  To regain compliance with the minimum bid price requirement, the closing bid price of the Company's common stock must close above $1.00 for a minimum of ten consecutive business days, although the letter also states that the Nasdaq staff has the discretion to require compliance for a period in excess of 10 consecutive business days, but generally no more than 20 consecutive business days, under certain circumstances.


If, by October 13, 2008, the Company cannot demonstrate compliance with Marketplace Rule 4310(c)(4), the Nasdaq staff will determine whether or not the Company meets The Nasdaq Capital Market initial listing criteria set forth in Nasdaq Marketplace Rule 4310(c), except for the bid price requirement. If the Company meets the initial listing criteria, the Nasdaq staff will notify the Company that it has been granted an additional 180 calendar day compliance period. If the Company is not eligible for an additional compliance period, the Nasdaq staff will provide written notice that the Company’s securities will be delisted. At that time, the Company may appeal the Nasdaq staff’s determination to delist its securities to a Listing Qualifications Panel determination to delist its securities to a Listing Qualifications Panel.

DAG Media, Inc. through our subsidiaries provides short term, secured, non–banking, commercial loans, to small businesses. In addition we developed innovative software and a related web site that allows retail businesses and other service providers to reach prospective customers and clients for their goods and services in a more effective way than traditional on-line and print yellow pages search . We operate several web sites:http://www.dagfundingsolutions.comhttp://www.nextyellow.com, andhttp://www.dagmedia.com.

Forward-looking statements in this release are made pursuant to the “safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products introduced by competitors, changes in the rates of subscriber acquisition and retention, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

 

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