Full Press Release Details
| c SPACEHAB, Inc | |
| 12130 Highway 3, Bldg. 1 | |
| Webster, Texas 77598-1504 | |
| .713.558.5000 | |
| fax: 1.713.558.5960 | |
| www.spacehab.om |
FOR IMMEDIATE RELEASE - DRAFT
ANNOUNCES RECEIPT OF NASDAQ STAFF DETERMINATION LETTER
Texas, October 5, 2007 SPACEHAB, Incorporated
(NASDAQ: SPAB), a leading provider of commercial space services, today
announced its receipt of a NASDAQ Staff Determination letter on October 2, 2007
indicating that the Company fails to comply with NASDAQ Marketplace Rules
4310(c)(4) and 4310(c)(3), and that its securities are, therefore, subject to
delisting from The NASDAQ Capital Market.
Marketplace Rule 4310(c)(4)
requires that the Company maintain a $1.00 bid price. Following earlier notices
of non-compliance with the requirement, the Company was granted a grace period,
which expired on October 1, 2007. As previously announced on September 28,
2007, the Company is also not in compliance with Marketplace Rule 4310(c)(3)
which requires the Company to have $500,000 of net income from continuing
operations for the most recently completed fiscal year or two of the three most
recently completed fiscal years; or $35,000,000 market value of listed
securities; or $2,500,000 in stockholders equity.
The Company plans to request
a hearing before a NASDAQ Listing Qualifications Panel to present its plan of
compliance and request continued listing pending the completion of the plan.
However, there can be no assurance the Panel will grant the Company s request
for continued listing.
About SPACEHAB, Incorporated
Incorporated in 1984, SPACEHAB (www.spacehab.com) is a leading
provider of commercial
space products and services to NASA, international space agencies and
universities, Department of Defense, and private customers worldwide. The
Company offers end-to-end space access solutions, space systems development, mission
integration and pre-launch processing facilities and services, and large-scale
government program support services.
The statements in this document may contain
forward-looking statements that are made pursuant to the Safe Harbor provisions
of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks, trends, and uncertainties that could cause
actual results to be materially different from the forward-looking statement.
These factors include, but are not limited to, continued government support and
funding for key space programs, product performance and market acceptance of
products and services, as well as other risk factors and business
considerations described in the company s Securities & Exchange Commission
filings including the annual report on Form 10-K. Any forward-looking
statements in this document should be evaluated in light of these important
risk factors. The Company assumes no obligation to update these forward-looking
deCardenas, Corporate Marketing and Communications