April 04, 2007 08:00 ET Announces Receipt and Resolution of Nasdaq Deficiency Letter

IRVINE, CA -- (MARKET WIRE) -- April 4, 2007 -- Corporation (NASDAQ: LOCM) today announced the receipt of a letter from the staff of The Nasdaq Stock Market, Inc. ("Nasdaq") on April 2, 2007, as well as the resolution of the matter raised in the letter. The letter indicated that the Company failed to comply with shareholder approval rules set forth in Marketplace Rule 4350(i)(1)(D) in connection with the private placement involving convertible notes and warrants issued in connection with the Purchase Agreement dated February 22, 2007 (the "Purchase Agreement").

Nasdaq verbally notified the Company of such noncompliance on February 27, 2007. In response to the verbal notification, the Company took action to cure the deficiency by entering into Amendment No. 1 to the Purchase Agreement whereby the exercise date of the warrants issued to the Investors was amended to be the six month anniversary of the closing date (February 23, 2007) of the Purchase Agreement. Consequently, the Letter confirms that, subject to the public announcement requirements of Nasdaq Marketplace Rule 4803(a), the Registrant has regained compliance with the Rule and the matter is now closed.

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