Back to All News

Digiliti Money Plans to Voluntarily Delist from Nasdaq

September 27, 2017

MINNEAPOLIS, Minn.  ̶  September 27, 2017  ̶  Digiliti Money, Inc. (NASDAQ: DGLT), 

a leading mobile FinTech provider, has notified The Nasdaq Stock Market (“Nasdaq”) of its intention to voluntarily delist its common stock from Nasdaq by filing a Form 25 with the U.S. Securities and Exchange Commission (the “SEC”) on or about October 6, 2017.

The Company’s Board of Directors has determined it would be in the best interests of the Company and its shareholders to voluntarily delist from Nasdaq. The Company believes its delisting would enhance its ability to continue to raise capital and consummate its current proposed financial restructuring and capital raising activities.

The decision to delist from Nasdaq was also based on the good faith determination by the Board that it would not be able to: (i) timely comply with its periodic reporting requirements under the Exchange Act (Listing Rule 5250(c)), (ii) maintain the requisite stockholders’ equity (Listing Rule 5550(b)(1), and (iii) maintain the corporate governance requirements that would require independent directors. The Company previously disclosed that it received a notice of noncompliance from the Listing Qualifications Department of Nasdaq in its Current Report on Form 8-K filed with the SEC on September 15, 2017.

To provide an efficient and transparent public trading market for its investors while lowering the cost and complexity of being a public company, Digiliti Money intends on applying for listing on one of the OTCQB, OTCQX or OTCPK markets once it satisfies the appropriate financial reporting and other listing qualification requirements of such market.

About Digiliti Money, Inc.
Digiliti Money (NASDAQ: DGLT) is a leading cloud-based, SaaS technology provider for the now way to bank, serving the financial services industry with mobile money and remote deposit capture solutions for PC, Mac and mobile. Founded in 2010, Digiliti Money has quickly grown into a technology leader and trusted partner to some of the world’s largest and most respected financial organizations. With remarkable growth, an impressive client base and award-winning technologies, Digiliti Money continues to drive innovation and deliver world-class solutions to financial institutions of all sizes.

The company’s industry-leading solutions help clients to increase customer engagement, grow revenues and gain competitive advantage. Digiliti Money’s cloud-based technology platform simplifies development, deployment and servicing of consumer and commercial solutions—minimizing cost and accelerating speed-to-market and ROI. Enabled by Digiliti Money’s complete suite of business and consumer solutions, financial institutions can better serve the needs of all their customers. For more information, visit www.digilitimoney.com.

Important Cautions Regarding Forward-Looking Statements and other Notices

This press release contains certain statements that would be deemed “forward-looking statements” under Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1933 and includes, among other things, discussions of our business strategies, future operations and capital resources, including ability to raise financing. Words such as “may,” “likely,” “anticipate,” “expect” and “believes” indicate forward-looking statements.

These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. We may not be able to secure any debt or equity financing on favorable terms, in a timely manner, or at all. If we are unable to obtain adequate financing or financing on terms satisfactory to us when we require it, our ability to continue to grow or support our business and to respond to business challenges could be significantly limited and we may not be able to continue as a going concern.

Forward-looking statements reflect our current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. We discuss many of these risks in greater detail in our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2016, filed with the Securities and Exchange Commission on Feb. 24, 2017, under the heading “Risk Factors” and in the other reports we file with the Commission. You are cautioned not to place undue reliance on these forward-looking statements. Also, forward-looking statements represent our estimates and assumptions only as of the date of this press release. Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.

Company Contact:
Bryan Meier, Interim CEO, EVP & CFO
Digiliti Money, Inc.
952.698.5214
bmeier@digilitimoney.com