Ku6 Media Regains Compliance from Nasdaq
BEIJING, May 22, 2014 /PRNewswire/ -- Ku6 Media Co., Ltd. ("Ku6 Media" or the "Company", NASDAQ: KUTV) today announced that the Company received a letter, dated May 21, 2014, from The Nasdaq Stock Market LLC stating that the Company has regained compliance with NASDAQ Listing Rule 5250(c)(1) by filing its annual report on Form 20-F for the fiscal year ended December 31, 2013 on May 15, 2014. Rule 5250(c)(1) requires that NASDAQ listed companies file their required periodic reports with the Securities and Exchange Commission on a timely basis. Because the Company was able to regain compliance with NASDAQ Listing Rule 5250(c)(1) before the deadline NASDAQ had established for the Company to submit a plan for regaining compliance, the Company is no longer required to submit such a plan to NASDAQ.
About Ku6 Media Co., Ltd.
Through its premier online brand and online video website, www.ku6.com, Ku6 Media provides online video uploading and sharing service, video reports, information and entertainment in China. For more information about Ku6 Media, please visit http://ir.ku6.com.
Safe Harbor Statement
This news release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "believes," "could," "expects," "may," "might," "should," "will," or "would," and by similar statements. Forward-looking statements are not historical facts, but instead represent only the Company's beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of its control. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Some of the risks and important factors that could affect the Company's future results and financial condition include: substantial doubt as to the Company's ability to continue as a going concern; risks relating to the Company's new business models and its ability to generate sufficient revenues and operating cash flows; potential loss of continued support from Shanda Interactive; considerable uncertainties relating to the Company's cooperation arrangements with Qinhe; inability to meet working capital requirements through improved operating results or additional financings; potential further restructuring in the future; continued competitive pressures; changes in technology and user preference; and other risks outlined in the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 20-F. Ku6 Media does not undertake any obligation to update this forward-looking information, except as required under law.
SOURCE Ku6 Media Co., Ltd.