Ashford.com Receives Nasdaq Notification
HOUSTON, April 18 -- Ashford.com (Nasdaq: ASFD), the world`s
leading e-commerce destination offering luxury goods to individuals and
corporate clients, announced today that it has received a letter from the
Nasdaq National Market indicating that the company no longer complies with the
$1.00 minimum bid price requirement stated in Marketplace Rule 4450 (a)(5).
Ashford.com has until July 9, 2001, ninety calendar days, to regain
compliance with this rule, which would require the company`s stock to achieve
a bid price $1.00 or more for a minimum of 10 consecutive days during that
period. If Ashford.com fails to meet this requirement, it will become subject
to delisting from the Nasdaq National Market, at which time the company can
appeal the delisting to a Nasdaq Listing Qualifications Panel.
About Ashford.com
Ashford.com is the world`s leading e-commerce destination offering luxury
goods to individual and corporate clients. The company`s e-commerce site,
located at http://www.ashford.com, offers a vast selection of more than
20,000 styles of diamonds, new and vintage watches, jewelry, fragrances,
leather accessories, ties, scarves, sunglasses, writing instruments, home and
lifestyle products, fine art and corporate gifts from more than 400 leading
brands. Dedicated to creating an exceptional shopping experience, Ashford.com
provides next-day delivery, attractive gift packaging, and a 30-day money-back
guarantee on all merchandise. The company also offers the Ashford.com
Protection Plus(SM) policy, which provides outstanding product warranties,
customer privacy, and site security. Ashford.com is headquartered in Houston,
Texas.
Contact:
Ellen Brooks
Investor Relations
ebrooks@ashford.com
713.369.1300
Thane Ryland
PR Director
tryland@guild.com
608.227.4163
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