Crossroads Systems, a global provider of data protection solutions, has announced that it has received notice from The NASDAQ Stock Market that it has regained compliance with Listing Rule 5550(b)(1), which requires companies listed on The NASDAQ Capital Market to maintain stockholders’ equity of at least US$2.5m.
As a result, the Company’s pending hearing before the NASDAQ Listing Qualifications Panel has been cancelled. NASDAQ has determined that the Company has regained compliance with all applicable listing standards to maintain the listing of its common stock on The NASDAQ Capital Market.
About Crossroads Systems
Crossroads Systems, Inc. (NASDAQ: CRDS) is a global provider of data archive solutions. Through the innovative use of new technologies, Crossroads delivers customer-driven solutions that enable proactive data security, advanced data archiving, optimised performance and significant cost-savings. Founded in 1996 and headquartered in Austin, TX, Crossroads has been awarded more than 100 patents and has been honored with numerous industry awards for data archiving, storage and protection.