SOURCE: LaPolla Industries, Inc.

October 15, 2007 10:24 ET

LaPolla Announces Intention to Voluntarily Delist Common Stock From AMEX

HOUSTON, TX--(Marketwire - October 15, 2007) - LaPolla Industries, Inc. ("Company" or "LaPolla") (AMEX: LPA), a leading manufacturer of foam and coating products targeting commercial, industrial and residential applications, today announced that it has submitted written notice to the American Stock Exchange ("AMEX") of its intention to voluntarily delist its common stock from the AMEX.

The Company was previously notified that it is not in compliance with certain of the AMEX continued listing standards. The Board of Directors decided, after an evaluation that concluded that the disadvantages of the financial measures it is required to take to regain compliance to maintain its listing on the AMEX outweighed the benefits to the Company and its stockholders, to voluntarily delist from the AMEX. The AMEX has consented to the voluntary delisting of the Company's common stock.

Commenting on this decision, Douglas J. Kramer, president and chief executive officer, said, "We believe that this decision is in the best interests of our shareholders at this time. This move allows LaPolla greater financial flexibility to execute its growth strategy and move LaPolla toward profitability."

On or about October 25, 2007, the Company intends to file a Form 25 with the Securities and Exchange Commission to complete the voluntary delisting of its common stock from the AMEX, which will become effective 10 days after the filing date. Following the effectiveness of the Form 25 filing, the Company anticipates that its common stock will be quoted on the OTCBB. As soon as information becomes available the Company will announce the symbol it will trade under as well as the estimated date of the start of trading.

About LaPolla Industries, Inc.

LaPolla Industries, Inc. is a national manufacturer of foam and coating products targeting commercial, industrial and residential applications in the roofing and perimeter insulation construction industries. Additional information about LaPolla is available on the World Wide Web at www.lapollaindustries.com.

Statements made in this press release that are not historical facts constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21 of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are necessarily estimates reflecting the best judgment of senior management and express the Company's opinions about trends and factors which may impact future operating results. Any such forward-looking statements should be considered in context with the various disclosures made by the Company about its businesses including, without limitation, the risk factors described in its periodic reports filed with the SEC. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. For further information regarding risks, uncertainties, and other factors associated with LaPolla's business, please refer to LaPolla's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, which are available at www.lapollaindustries.com.

Contact Information

  • Company Contacts:
    Douglas J. Kramer, CEO
    Timothy J. Novak, CFO
    Michael T. Adams, CGO
    (281) 219-4700 (t)
    emartinez@lhai.com

    Investor Relations Contacts:
    Jody Burfening
    Elriz Martinez
    Lippert/Heilshorn & Associates
    (212) 838-3777 (t)