SALT LAKE CITY, Dec. 15, 2010 /PRNewswire/ — Dynatronics
Corporation (Nasdaq:
DYNT) today announced that NASDAQ has given the company until
June 13, 2011, to comply with its $1 per share minimum bid
rule.
“Given the challenges of the general economy, we welcome the
grant by NASDAQ of an additional six months to cure the $1 minimum
bid deficiency,” stated Kelvyn H. Cullimore Jr., chairman and
president of Dynatronics. “These difficult economic times have made
it challenging for small public companies to maintain strength in
their stock prices. This extra time will provide an
opportunity for the market to better understand the potential of
some important new developments that we expect to announce over the
coming weeks and months.”
“Dynatronics’ newly introduced e-commerce website is positively
impacting sales and helping the company operate more efficiently.
In addition, we are working to capitalize on preferred vendor
contracts signed over the past year as well as identify and
introduce new products to the market,” Cullimore added.
“Our preferred vendor contracts give us access to over 2,500
clinics that we are working to convert to our brand of products.
This promises to be a source of increased revenue over the coming
year as more clinics choose to purchase our devices and supplies,”
Cullimore continued. “We believe all of these improvements,
together with the new initiatives being undertaken that we expect
to disclose in the coming weeks and months, should continue to
strengthen our business and build investor confidence in owning our
stock.”
Dynatronics manufactures, markets and distributes
advanced-technology medical devices, orthopedic soft goods and
supplies, treatment tables and rehabilitation equipment for the
physical therapy, sports medicine, chiropractic, podiatry, plastic
surgery, dermatology and other related medical, cosmeti
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