E Com Ventures, Inc. Regains Nasdaq Compliance
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.
M
CONTACT:
Ilia Lekach, Chairman and CEO
E Com Ventures, Inc.
305-889-1520
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