Attached files
| file | filename |
|---|---|
| 8-K - FORM 8K 100112 - LML PAYMENT SYSTEMS INC | form8k100112.htm |
Exhibit
99.1
LML
REGAINS COMPLIANCE WITH NASDAQ LISTING RULE
VANCOUVER, BC, January 12, 2010
—LML Payment Systems Inc. (the “Corporation”) (NASDAQ: LMLP) received
written notification from The NASDAQ Stock Market LLC (“NASDAQ”) on January 11,
2010 advising it has regained compliance with NASDAQ Marketplace Rule 5550(a)(2)
(the “Minimum Bid Price Rule”) which requires listed companies to maintain a
minimum bid price of $1.00 per share.
The
letter stated that the Corporation’s common stock had closed above the $1.00
minimum bid price for 10 consecutive trading days. Therefore, the
Corporation had regained compliance and NASDAQ advised that the matter is now
closed.
About LML Payment Systems Inc.
(www.lmlpayment.com)
LML
Payment Systems Inc., through its subsidiaries Beanstream Internet Commerce Inc.
in Canada and LML Payment Systems Corp. in the U.S., is a leading provider of
financial payment processing solutions for e-commerce and traditional
businesses. We provide credit card processing, online debit,
electronic funds transfer, automated clearinghouse payment processing and
authentication services, along with routing of selected transactions to third
party processors and banks for authorization and settlement. Our intellectual
property estate, owned by subsidiary LML Patent Corp., includes U.S. Patent No.
RE40220, No. 6,354,491, No. 6,283,366, No. 6,164,528, and No. 5,484,988 all of
which relate to electronic check processing methods and systems.
Cautionary
Statement Regarding Forward-Looking Statements
Certain
statements in this press release are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include all passages containing verbs such as "aims," "anticipates,"
"estimates," "expects," "intends," "plans," "predicts," "projects" or "targets"
or nouns corresponding to such verbs. Forward-looking statements also include
any other passages that are primarily relevant to expected future events or that
can only be evaluated by events that will occur in the future. Forward-looking
statements are based on the opinions and estimates of the management at the time
the statements are made and are subject to certain risks and uncertainties that
could cause actual results to differ materially from those anticipated in the
forward-looking statements. Factors that could affect the Corporation’s actual
results include, among others, the impact, if any, of stock-based compensation
charges, the potential failure to establish and maintain strategic
relationships, inability to integrate recent and future acquisitions, inability
to develop new products or product enhancements on a timely basis, inability to
protect our proprietary rights or to operate without infringing the patents and
proprietary rights of others, and quarterly and seasonal fluctuations in
operating results. More information about factors that potentially could affect
the Corporation’s financial results is included in the Corporation’s quarterly
reports on Form 10-Q and our most recent annual report on Form 10-K filed with
the Securities and Exchange Commission. Readers are cautioned not to place undue
reliance upon these forward-looking statements that speak only as to the date of
this release. Except as required by law, the Corporation undertakes no
obligation to update any forward-looking or other statements in this press
release, whether as a result of new information, future events or
otherwise.
###
CONTACTS:
Patrick
H.
Gaines Investor
Relations
CEO (800)
888-2260
(604)
689-4440