Mace Security International is in Compliance
With Nasdaq and is Not Subject to Being Delisted
MOUNT LAUREL, N.J., May 14 Mace Security International,
Inc. ("Mace") , a leading provider of car care services, today
announced that on May 11, 2001, it was advised by Nasdaq that it was in
compliance with Market Place Rule 4450 (a)(5) and was not subject to being
delisted.
On April 19, 2001, the Company was advised by Nasdaq that its common stock
had failed to trade above one dollar for thirty consecutive business days, and
was therefore not in compliance with Marketplace Rule 4450(a)(5) of the Nasdaq
National Market. Nasdaq advised the Company that it had until July 18, 2001
to maintain a bid price of at least one dollar for ten consecutive business
days or be delisted. The Company maintained a minimum bid price of at least
one dollar for ten consecutive business days ending May 4, 2001. On May 11,
2001, the Company was advised by Nasdaq that it was in compliance with Market
Place Rule 4450(a)(5) and was not subject to being delisted.
Mace Security International, Inc. is a leading provider of car care
services, which owns and operates 56 car washes and five truck washes
nationwide. Additional information about Mace is available at http://www.mace.com.
Certain statements and information included in this press release
constitute "forward-looking statements" within the meaning of the Federal
Private Securities Litigation Reform Act of 1995. When used in this press
release, the words or phrases "will likely result", "are expected to", "will
continue", "is anticipated", "estimate", "projected", "intends to" or similar
expressions are intended to identify "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
statements are subject to certain risks, known and unknown, and uncertainties,
including but not limited to economic conditions, dependence on management,
dilution to shareholders, lack of capital, the effects of weather on the
demand for car care services, the effects of rapid growth upon the Company and
the ability of management to effectively respond to the growth, its ability to
achieve operating synergies, its ability to compete, regulatory matters, the
effects of competition, its ability to maintain the control of the Company's
cash business, and the ability of the Company to obtain additional financing.
Such factors could materially adversely affect the Company's financial
performance and could cause the Company's actual results for future periods to
differ materially from any opinions or statements expressed within this press
release. Additional discussion of factors that could cause actual results to
differ materially from management's projections, forecasts, estimates and
expectations are contained in the Company's SEC filings, including its S-3
registration statements and Form 10-KSB for 2000.
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