LAKE FOREST, Calif., Dec. 15, 2010 /PRNewswire-FirstCall/ -- Comarco, Inc. (Nasdaq : CMRO ), a leading provider of innovative mobile power solutions through its ChargeSource® line of multi-function universal mobile power products, today announced that it has given formal notice to the NASDAQ Stock Market ("NASDAQ") of its intent to delist its common stock from the NASDAQ Capital Market. The Company intends to file a Form 25 with the U.S. Securities and Exchange Commission and NASDAQ on or about December 29, 2010, and expects the delisting of its shares of common stock to become effective 10 days following the filing.
The Company is working with several market makers and anticipates that following its NASDAQ delisting, Comarco common stock will be quoted on the OTC Bulletin Board®, a centralized electronic quotation service for over-the-counter securities operated by The Nasdaq OMX Group, Inc. The Company will continue to file periodic reports with the SEC pursuant to the requirements of Section 12(g) of the Securities Exchange Act of 1934, as amended.
"With the challenges ahead, management and the Board have determined that the move to the OTC is a prudent step and consistent with our efforts to reduce expenses and conserve resources," said Sam Inman, president and CEO of Comarco.
This news release includes "forward-looking statements" that are subject to risks, uncertainties, and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. Forward-looking statements in this release are generally identified by words such as "believes," "anticipates," "plans," "expects," "will," "would," and similar expressions that are intended to identify forward-looking statements. Forward-looking statements include any statements herein not of a historical nature. Many important factors may cause the Company's actual results to differ materially from those discussed in any such forward-looking statements, including but not limited to, the timing of the Company's filing of the Form 25 with the U.S. Securities and Exchange Commission and NASDAQ and the date of the effectiveness of the delisting. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, we cannot assure that the results contemplated in forward-looking statements will be realized in the timeframe anticipated or at all. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Based in Lake Forest, Calif., Comarco is a leading provider of universal mobile power products used to power and charge notebook computers, mobile phones, and many other rechargeable mobile devices. The Company's Web sites can be found at www.comarco.com and www.chargesource.com.
SOURCE Comarco, Inc.