BEIJING, May 7, 2013 /PRNewswire/ -- Trunkbow International Holdings Limited (NASDAQ: TBOW) ("Trunkbow" or the "Company"), a leading provider of Mobile Payment Solutions ("MPS") and Mobile Value Added Services ("MVAS") in the PRC, today announced that the Company received a notice from the NASDAQ Stock Market, Inc. ("NASDAQ") indicating that the Company has regained compliance with the NASDAQ Listing Rule 5250(c)(1) following the filing of its Annual Report on Form 10-K for the year ended December 31, 2012 (the "Annual Report") with the U.S. Securities & Exchange Commission ("the SEC") on May 2, 2013.
Additionally, the Company was informed that it has satisfied NASDAQ's request for additional information with respect to the Company's auditing issues related to customer confirmations, inventory and equipment and its shares resumed trading today on the NASDAQ Capital Market.
"We are pleased that we have completed the filing of our 2012 Annual Report, regained compliance with NASDAQ's continued listing requirements and satisfied their request for additional information, allowing for the resumption of trading in our shares," said Mr. Qiang Li, Chief Executive Officer of Trunkbow. "I would like to thank the members of our finance team and our audit partners for their efforts to resolve these matters quickly and with no disruption to our business, and we look forward to updating the investment community on our business development efforts when we report first quarter 2013 results."
About Trunkbow
Trunkbow International Holdings (NASDAQ: TBOW) is a leading provider of Mobile Payment Solutions ("MPS") and Mobile Value Added Solutions ("MVAS") in PRC. Trunkbow's solutions enable the telecom operators to offer their subscribers access to unique mobile applications, innovative tools, value-added services that create a superior mobile experience, and as a result generate higher average revenue per user and reduce subscriber churn. Since its inception in 2001, Trunkbow has established a proven track record of innovation, and has developed a significant market presence in both the Mobile Value Added and Mobile Payment solutions markets. Trunkbow supplies its mobile payment solutions to all three Chinese mobile telecom operators, as well as re-sellers, in several provinces of China. For more information, please visit www.trunkbow.com.
Safe Harbor Statement
This press release contains forward-looking statements that reflect the Company's current expectations and views of future events that involve known and unknown risks, uncertainties and other factors that may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such forward looking statements involve known and unknown risks and uncertainties, including but not limited to uncertainties relating to the Company's relationship with China's major telecom carriers and its resellers, competition from domestic and international companies, changes in technology, contributions from revenue sharing plans and general economic conditions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. You should understand that the Company's actual future results may be materially different from and worse than what the Company expects. Information regarding these risks, uncertainties and other factors is included in the Company's annual report on Form 10-K and other filings with the SEC.
Contact Information | |
In China: | In the U.S. |
Trunkbow International Holdings Limited | The Piacente Group |
Ms Alice Ye, Chief Financial Officer | Brandi Floberg/Lee Roth |
Phone: +86 (10) 8571-2518 (Beijing) | Phone: + (1) 212-481-2050 (New York) |
E-mail: ir@trunkbow.com | E-mail: trunkbow@tpg-ir.com |