Published: November 02, 2011
Atrinsic, Inc. Announces Voluntary Delisting from NASDAQ
NEW YORK - (BUSINESS WIRE) - Atrinsic, Inc. (NASDAQ:ATRN), a marketer of direct-to-consumer
subscription products, including Kazaa (www.kazaa.com),
a digital music subscription service, announced today that it has given
formal written notice to The NASDAQ Stock Market ("NASDAQ" ) of its
intention to voluntarily delist its common stock from NASDAQ, in part
due to the Company's non-compliance with the minimum stockholders'
equity requirement for continued listing on The NASDAQ Capital Market.
As a result of the foregoing, trading in the Company's securities will
be suspended on NASDAQ effective with the open of business on Thursday,
November 3, 2011.
The Company intends to file a Form 25 with the Securities and Exchange
Commission ("SEC" ) and NASDAQ on or about November 14, 2011 to effect
the voluntary delisting of its common stock from NASDAQ. The official
delisting of the Company's common stock will become effective
approximately ten days thereafter, on November 24, 2011. The Company
will continue to file periodic reports with the SEC pursuant to the
requirements of Section 12(g) of the Securities Exchange Act of 1934, as
amended.
The Company anticipates that upon suspension from NASDAQ on November 3,
2011, the Company's common stock will begin quotation on the
over-the-counter ("OTC" ) market tier, OTCQB. Operated by OTC Markets
Group Inc., the OTCQB is a market tier for OTC traded companies that are
registered and reporting with the SEC. It is anticipated that the
Company's common stock will continue to trade under the symbol ATRN on
the computerized OTCQB system. Investors will be able to view Level II
Real Time stock quotes for ATRN at http://www.otcmarkets.com.
As previously disclosed, on August 16, 2011, the Company received notice
from the NASDAQ Listing Qualifications Staff indicating that the Company
was not in compliance with the minimum stockholders' equity requirement
of $2,500,000 for continued listing on The NASDAQ Capital Market. The
Company remains non-compliant with that requirement and ultimately
determined that the administrative burdens associated with being a
listed security outweigh the benefits to the Company and its
shareholders of a continued NASDAQ listing.
About Atrinsic and Kazaa
Atrinsic, Inc. is a marketer of direct-to-consumer subscription
products, including Kazaa, and an Internet search-marketing agency.
Kazaa is a subscription-based digital music service that gives users
unlimited access to millions of CD-quality tracks. Unlike other music
services that charge you every time a song is downloaded, Kazaa allows
users to listen to and explore as much music as they want for one
monthly fee, without having to pay for every track or album. Royalties
are paid to the rights' holders for licenses to the music utilized by
this digital service. Atrinsic and Brilliant Digital Entertainment, Inc.
jointly offer the Kazaa digital music service pursuant to a Marketing
Services Agreement and a Master Services Agreement between the two
companies.
Forward Looking Statements
Statements contained in this news release may be forward-looking
statements, as that term is defined in the Private Securities Litigation
Reform Act of 1995. Forward-looking statements may be identified by the
use of such words as "intend," "believe," "expect," "anticipate,"
"should," "planned," "estimated," and "potential." Such forward-looking
statements are based on current expectations, but may differ materially
from those currently anticipated due to a number of factors, which
include, but are not limited to, factors discussed in documents filed by
the Company with the Securities and Exchange Commission from time to
time. The forward-looking statements are made as of the date of this
release, and the Company assumes no obligations to update the
forward-looking statements or to update the reasons why actual results
could differ from those projected in the forward-looking statements.

Atrinsic, Inc.
Nathan Fong, 212-716-1977 ext. 222
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