N@N

Atrinsic, Inc. Receives Favorable Decision From NASDAQ

^{Published on 2011-06-10 06:56:08 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Atrinsic, Inc. (NASDAQ: ATRN), a marketer of direct-to-consumer subscription products, including Kazaa ([ www.kazaa.com ]) a" a digital music subscription service, and owner of an internet search marketing agency, Atrinsic Interactive, announced today that, on June 7, 2011, the Company received a favorable determination from the NASDAQ Listing Qualifications Staff (the aStaffa) indicating that the Staff has granted the Companya™s request for the transfer of its listing to The NASDAQ Capital Market. The Companya™s securities will begin trading on The NASDAQ Capital Market effective with the open of business on Friday, June 10, 2011. The transfer of the Companya™s listing from The NASDAQ Global Market to The NASDAQ Capital Market should have no impact on trading in the Companya™s shares, and the Companya™s stock will continue to trade on NASDAQ under the symbol ATRN.

As previously disclosed, on April 14, 2011, the Staff notified the Company that it no longer satisfied the $10 million stockholdersa™ equity requirement for continued listing on The NASDAQ Global Market. The Company subsequently submitted an application for the transfer of its listing to The NASDAQ Capital Market, particularly in light of the Companya™s belief that it satisfies and will continue to satisfy the criteria for continued listing on The NASDAQ Capital Market, including the applicable $2.5 million stockholdersa™ equity requirement.

About Atrinsic and Kazaa

Atrinsic, Inc. is a marketer of direct-to-consumer subscription products and an Internet search-marketing agency. Built around the Kazaa brand, Atrinsic sells entertainment 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 allow 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 listen to 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.