Dynatronics Regains Compliance with NASDAQ
SALT LAKE CITY, Jan. 8, 2013 /PRNewswire/ -- Dynatronics Corporation (NASDAQ: DYNT) today announced that the company has received notification from NASDAQ that Dynatronics has regained compliance with the $1.00 minimum bid requirement for listing on that exchange.
"In the twelve days since the reverse split was effective, we have seen record trading volumes in our stock with over 1.6 million shares changing hands," stated Kelvyn H. Cullimore Jr., chairman and president of the company. "This represents more than 65 percent of our total shares outstanding. By curing the minimum bid deficiency we have not only removed the threat of delisting from the NASDAQ exchange, but we have increased the visibility of our stock among investors."
"Dynatronics has crafted a well-defined strategy to improve profitability going forward," he continued. "Through a combination of reduced expenses, a record number of new product introductions and a major expansion of our distribution channels, we believe we will be successful in generating significant bottom-line improvements for our shareholders in the coming year."
Dynatronics manufactures, markets and distributes advanced-technology medical devices, orthopedic soft goods and supplies, treatment tables and rehabilitation equipment for the physical therapy, sports medicine, chiropractic, podiatry, plastic surgery, dermatology and other related medical, cosmetic and aesthetic markets. More information regarding Dynatronics is available at http://www.dynatronics.com.
This press release contains forward-looking statements. Those statements include references to the company's expectations and similar statements such as the statement regarding the company improving profitability going forward and being successful in generating significant bottom-line improvements. Actual results may vary from the views expressed in the forward-looking statements contained in this release. The development and sale of the company's products are subject to a number of risks and uncertainties, including, but not limited to, changes in the regulatory environment, competitive factors, inventory risks due to shifts in market demand, market demand for the company's products, availability of financing at cost effective rates, and the risk factors listed from time to time in the company's SEC reports including, but not limited to, the report on Form 10-K for the year ended June 30, 2012.
SOURCE Dynatronics Corporation