a
60 Cutter Mill Rd.
Suite 205
Great Neck, NY
11021
Tel: 516.444.3400
Fax: 516.444.3404

 

Press Releases

Contact:
Assaf Ran, CEO
(212) 489-6800
SOURCE: Manhattan Bridge Capital, Inc.

 

Manhattan Bridge Capital, Inc. Regains Full Compliance with NASDAQ Marketplace Rule 4310(c)(4)

            NEW YORK, September 25, 2008 / PRIME Newswire / -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN),(the “Company”) today announced that on September 24, 2008, it received notice from NASDAQ that it has regained full compliance with Rule 4310(c)(4), NASDAQ’s minimum stock bid price requirements to remain listed on the NASDAQ Stock Market.  Regaining compliance resulted from its stock having had a closing bid price at or above $1.00 per share for 10 consecutive trading days.

Assaf Ran, Chairman of the Board and CEO stated, “The Company is pleased that it will continue to trade on the NASDAQ stock exchange. Management will focus on continuing to improve the financial conditions of the Company and communicating results to shareholders and investors. I believe our stock is undervalued due to current market conditions as well as our relatively short performance track record in the financing business. However, since we initiated our new financing line of business in May of 2007, we have demonstrated period-to-period growth and increased earnings. I am confident in our ability to continue on that path.”

Manhattan Bridge Capital, Inc, 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 searches. We operate several web sites including: http://www.manhattanbridgecapital.com. and  http://www.nextyellow.com.

Forward-looking statements in this release are made pursuant to the “safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995 These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements, 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.