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Atrinsic, Inc. Regains NASDAQ Compliance

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  Published in Science and Technology on Monday, December 20th 2010 at 14:45 GMT by Market Wire
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NEW YORK--([ BUSINESS WIRE ])--Atrinsic, Inc. (NASDAQ: ATRND), a marketer of direct to consumer subscription products and an Internet search-marketing agency, announced today that NASDAQ has notified the Company that it has regained compliance with the minimum $1.00 bid price requirement for continued listing and, accordingly, the Companya™s securities will continue to be listed on The NASDAQ Global Market.

As previously announced, following a hearing before a NASDAQ Listing Qualifications Panel (the "Panel"), the Panel determined to continue the Company's listing subject to the condition that, on or before December 20, 2010, the Company evidence a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days. As of the close of business on December 16, 2010, the Company evidenced a closing bid in excess of $1.00 per share for ten consecutive business days; the closing bid price on that date was $2.50 per share. Accordingly, the Company timely satisfied the terms of the Panel's decision and the bid price deficiency has been cured.

aThis is an important milestone that we have achieved; we are excited about regaining compliance with the NASDAQ Global Marketa™s standards, as this allows us to focus on our business, and in particular, allows us to continue to build out and expand our Kazaa digital music service as part of a NASDAQ Global Market-listed company,a commented Thomas Plotts, Atrinsica™s CFO.

In connection with the Companya™s 1:4 reverse stock split which it completed on December 2, 2010, Atrinsica™s shares will continue to trade on The NASDAQ Global Market under the symbol aATRNa with the letter aDa appended to the trading symbol until January 3, 2011, to indicate that the reverse stock split has occurred.

About Atrinsic and Kazaa

Atrinsic, Inc. is a marketer of direct-to-consumer subscription products and an Internet search-marketing agency. Atrinsic sells entertainment and lifestyle subscription products directly to consumers, which are marketed through the Internet. Atrinsic also sells Internet marketing services to its corporate and advertising clients. Atrinsic has developed its marketing media network, consisting of web sites, proprietary content and licensed media, to attract consumers, corporate partners and advertisers. Atrinsic believes its marketing media network and proprietary technology allows it to cost-effectively acquire consumers for its products and for its corporate partners and advertisers.

Kazaa is a subscription-based digital music service that gives users unlimited access to millions of CD-quality tracks. For a monthly fee users can download unlimited music files and play those files on up to three separate computers and download unlimited ringtones to a mobile phone. Unlike other music services that charge you every time a song is downloaded, Kazaa allows users to listen to and explore as much music as they want for one monthly fee, without having to pay for every track or album. Consumers are billed for this service on a monthly recurring basis through a credit card, landline, or mobile device. Royalties are paid to the rightsa™ holders for licenses to the music utilized by this digital service. Atrinsic and Brilliant Digital, Inc. jointly offer the Kazaa digital music service pursuant to a Marketing Services Agreement and a Master Services Agreement between the two companies.