SOURCE: M-Wave, Inc.

September 15, 2005 18:01 ET

NASDAQ Listing Qualification Noticed

WEST CHICAGO, IL -- (MARKET WIRE) -- September 15, 2005 -- M-Wave, Inc. (NASDAQ: MWAV), a provider of supply chain services and a virtual distributor of printed circuit boards, custom electronic components and a virtual manufacturer of direct broadcasting satellite parts sourced domestically and from Asia, announced today that it had received from the NASDAQ stock market a letter concerning a violation of the continuing listing requirements of the Nasdaq SmallCap Market.

The listing requirements require that M-Wave’s common stock must not fall below a minimum closing bid price of $1.00 per share for any period of 30 consecutive business days. On September 9, 2005, NASDAQ sent the Company notice that it failed to meet such minimum closing bid price for 30 consecutive business days. NASDAQ has provided M-Wave 180 calendar days (until March 8, 2006) for our minimum closing bid price to exceed $1.00 per share for a minimum of ten consecutive business days. If M-Wave does so, NASDAQ will then deem M-Wave to be in compliance with the Rule. If the closing bid price does not exceed $1.00 per share for a minimum of ten consecutive business days prior to March 8, 2006, depending on M-Wave’s compliance with other listing standards, NASDAQ may provide an additional 180-day period or it may de-list M-Wave’s common stock at that time.

The discussion above contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements by their nature involve substantial risks and uncertainties as described by M-Wave's periodic filings with the SEC. Actual results may differ materially depending on a variety of factors, including, but not limited to the following: the achievement of M-Wave's projected operating results, the achievement of efficient volume production and related sales revenue, the ability to integrate acquired companies into M-Wave's existing business, and the ability of M-Wave to identify and successfully pursue other business opportunities. Additional information with respect to the risks and uncertainties faced by M-Wave may be found in, and the prior discussion is qualified in its entirety by, the Risk Factors contained in the company's filings with the Securities and Exchange Commission including M-Wave's Report on Form 10-KSB for the year ended December 31, 2004, its Forms 10-QSB, and other SEC filings.

Contact Information

  • Jeff Figlewicz
    630 562-5550