MIAMI, July 5 -- E Com Ventures, Inc. (Nasdaq: ECMV) announced today that it had been notified by Nasdaq that it was in compliance with Marketplace Rule 4450(a)(5) concerning the bid price of its common stock.
Ilia Lekach, Chairman and Chief Executive Officer of E Com Ventures, Inc. said, "Our Nasdaq listing is very important to us, our shareholders, vendors and customers. We are pleased to have received Nasdaq`s compliance letter. Based on our performance, we believe our common stock continues to be undervalued and we remain committed to enhancing shareholder value."
E Com Ventures, Inc. is a holding company that owns and operates Perfumania retail stores, the Internet site, perfumania.com, and a wholesale fragrance business. The Company also provides Internet fulfillment and other services to various other companies. Perfumania is the largest perfumery chain in the United States.
This press release may include information presented which contains forward-looking information, including statements regarding the strategic direction of the companies. These comments constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995), which involve significant risks and uncertainties. Actual results may differ materially from the information discussed in these forward-looking statements. Among the factors that could cause actual results, performance or achievement to differ materially from those described or implied in the forward-looking statements are general economic conditions, competition, potential technology changes, changes in or the lack of anticipated changes in the regulatory environment in various countries, the ability to secure partnership or joint-venture relationships with other entities, the ability to raise additional capital to finance expansion, and the risks inherent in new product and service introductions and the entry into new geographic markets.
Ilia Lekach, Chairman and CEO
E Com Ventures, Inc.