NEWARK, Calif., June 2 /PRNewswire-FirstCall/ -- DayStar Technologies, Inc. (Nasdaq: DSTID), a developer of solar photovoltaic products based on CIGS thin-film deposition technology announced today that on May 27, 2010 it received a letter from the NASDAQ Stock Market confirming that the Company has met the requirements of the NASDAQ Hearings Panel's decision dated April 9, 2010, and accordingly the Panel has determined to continue the listing of the Company's securities on The NASDAQ Stock Market.
"We are very pleased that the Hearings Panel has granted our request to remain listed on the NASDAQ Stock Market," said Magnus Ryde, Chief Executive Officer. "I strongly believe that our continued listing on the NASDAQ Stock Market enhances shareholder value. Again, we are very appreciative of our shareholders who participated in our annual meeting on April 23, 2010 and approved the reverse split. Your support has been crucial to positioning the Company to retain its NASDAQ listing."
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release regarding DayStar's business that are not historical facts may be considered "forward-looking statements." The forward-looking statements in this news release are based on information available at the time the statements are made and/or management's belief as of that time with respect to future events and involve substantial risks and uncertainties that could cause actual results and outcomes to be materially different. Forward-looking statements are based on management's current preliminary expectations and are subject to risks and uncertainties, which may cause DayStar's results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties are detailed in DayStar's annual report on Form 10-K for the year ended December 31, 2009, and other filings made with the Securities and Exchange Commission. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. DayStar undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
DayStar Technologies, Inc.
Patrick J. Forkin III
Sr. Vice President
A. Renee Sutton, Esq.
SOURCE DayStar Technologies, Inc.