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NASDAQ Grants Atrinsica?s Request for Continued Listing

^{Published on 2010-09-02 14:06:50 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Atrinsic, Inc., (NASDAQ: ATRN), a leading internet focused marketing company, today announced that a NASDAQ Listing Qualifications Panel (the aPanela) has granted the Companya™s request for an extension of time, as permitted under NASDAQa™s Listing Rules, to comply with the $1.00 per share minimum bid price requirement for continued listing on The NASDAQ Global Market. In accordance with the Panela™s decision, on or before October 3, 2010, the Company must file a proxy statement that includes a proposal seeking shareholder approval for a reverse stock split, and thereafter, on or before December 20, 2010, evidence a closing bid price of $1.00 or more for a minimum of ten consecutive business days. Under NASDAQa™s rules, December 20, 2010, represents the maximum length of time that a Panel may grant the Company to regain compliance.

The determination follows the Companya™s hearing before the Panel on August 5, 2010, at which the Panel considered the Companya™s plan to regain compliance with the minimum bid price requirement. While the Company is working diligently to satisfy the terms of the Panela™s decision, there can be no assurance that the Company will be able to do so.

About Atrinsic, Inc.

Atrinsic, Inc. is an Internet focused marketing company. We sell entertainment and lifestyle subscription products directly to consumers which we market through the Internet. We also sell internet Marketing services to our corporate and advertising clients. We have developed our marketing media network, consisting of web sites, proprietary content and licensed media, to attract consumers, corporate partners and advertisers. We believe our marketing media network and proprietary technology allows us to cost-effectively acquire consumers for our products and for our corporate partners and advertisers.

Forward-Looking Statements

This press release contains aforward-lookinga statements based on managementa™s current expectations as of the date of this release. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements include the Companya™s intention to satisfy the terms of the Panela™s decision. Because such statements inherently involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward looking statements. Such risks include, among others, the Companya™s inability to comply with NASDAQa™s continued listing requirements, the Companya™s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Companya™s liquidity and financial strength to support growth, and other information that may be detailed from time to time in the Companya™s filings with the United States Securities and Exchange Commission. All information in this release is as of September 2, 2010. The Company does not undertake any obligation to update or revise these forward-looking statements to conform to actual results or changes in the Companya™s expectations.