ATLANTA, Nov. 21, 2014 (GLOBE NEWSWIRE) -- Video Display Corporation (Nasdaq:VIDE) announced today that the Company had received a notification letter from NASDAQ National Market stating that the Company's current Market Value of Publicly Held Shares (MVPHS) is not in compliance with the $5.0 million minimum required under NASDAQ rule (b)(1)(C). The NASDAQ letter was issued in accordance with standard NASDAQ procedures.
Consistent with Listing Rules 5810(c)(3)(D), NASDAQ will provide the Company a 180 day cure period ending May 12, 2015 in which to regain compliance with $5.0 million MVPHS for ten consecutive day period.
Forward-Looking Statements
This press release contains statements that are "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. These forward-looking statements include, among other things, the statements herein relating to the timing of regaining compliance and the Company's ability to retain additional independent Directors. The Company does not undertake any obligation to update any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.