SANTA CLARA, Calif., Sept. 6, 2002 (PRIMEZONE) -- iPrint Technologies, inc. (Nasdaq:IPRT), a leading supplier of online and offline marketing and branding solutions, today reported that it has been notified by Nasdaq that iPrint is not in compliance with Nasdaq Marketplace Rule 4310(c)(2)(B). This rule requires the Company to maintain a minimum of $2 million in net tangible assets or $2.5 million in stockholders' equity or a market value of listed securities of $35 million.
Nasdaq has requested that the Company provide its plan to comply with the Nasdaq SmallCap Market listing requirements by September 18, 2002 or become subject to delisting. In light of iPrint's recent proposal to transfer all or substantially all of the Company's assets through an assignment for the benefit of creditors, it is expected that iPrint will not seek continued listing on the Nasdaq stock market.
About iPrint Technologies, Inc.
iPrint Technologies, inc. (Nasdaq:IPRT), created by a merger between iPrint and Wood Associates, is a leader in providing online and offline marketing and customized branding solutions to the Fortune 1000. With a network of offices nationwide, iPrint works with over 200 world-class organizations such as BP, Charles Schwab, Compaq, DuPont, Microsoft, OfficeMax, Oracle, Sun Microsystems and Wyeth Pharmaceuticals, as well as servicing over one million small business customers. iPrint's technology and solutions improve the way businesses buy custom imprinting and corporate printing. iPrint can integrate into e-procurement platforms, streamlining the cost of ordering professional printing and promotional merchandise and improving the overall ROI of e-procurement efforts. iPrint's technology also powers the award-winning Web site, iPrint.com, which offers SOHO customers convenience and significant cost savings on professionally printed products. The Company has been distinguished with the Inc./Cisco Technology Award, an "Innovation in Print" award by CAP Ventures, and named the #15 top eBusiness by InformationWeek. For information about the Company, please visit http://www.iPrintTech.com.
(Sources: PC Data Online, Top Monthly E-Tailers Reports and Top Monthly Sites Reports; CAP Ventures, Research; BizRate.com, Customer Certified Ratings; Keynote.com, 2000.)
iPrint is a registered trademark of iPrint Technologies, inc. Other marks are property of their respective owners.