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  • NTWK & DRYS: NetSol Technologies Regains Full NASDAQ Compliance 0 comments
    Sep 28, 2010 5:22 PM | about stocks: NTWK

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    NetSol Technologies, Inc. (Nasdaq:NTWK)

    NetSol Technologies, Inc. is a worldwide provider of global IT and enterprise application solutions. Since its inception in 1995, NetSol has used its BestShoring™ practices and highly experienced resources in analysis, development, quality assurance, and implementation to deliver high-quality, cost-effective solutions. Specialized by industry, these product and services offerings include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, Insurance, Energy, and Technology markets. NetSol's commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by 162 companies worldwide. NetSol Technologies' clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. Headquartered in Calabasas, California, NetSol Technologies has operations and offices in Alameda, Adelaide, Bangkok, Beijing, Karachi, Lahore, London, and Riyadh.

    NetSol Technologies, Inc., a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, today announced that NASDAQ has notified the Company that it has regained compliance with the minimum bid price requirement in Listing Rule 5550(a)(2) and met the requirements of the NASDAQ Listing Qualification Panel (the "Panel") decision dated March 22, 2010. Accordingly, the Panel has determined to continue the listing of the Company's common stock on the NASDAQ Capital Market exchange.

    The letter from NASDAQ stated that on March 22, 2010, the Company was notified that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of the NASDAQ Stock Market. On September 23, 2010, the Company's closing price was $1.39 per share, the tenth consecutive day it had exceeded the $1.00 per share threshold. Accordingly, NetSol has regained compliance with all applicable listing rules.

    Najeeb Ghauri, Chairman and CEO of NetSol, stated, "As NetSol's CEO, I am always very conscious of shareholder value and am pleased to be back in full compliance. I believe that our fundamentals and business offering are very strong, and our team is dedicated in executing our business plans and strategy. What we are trying to build in NetSol is unique and critical for our blue chip global customers. Even after the recent appreciation, our current stock price does not reflect the real worth of the Company, but we trust that the market is beginning to realize our true value and potential and will reward our shareholders accordingly."

     

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    DryShips Inc. (NASDAQ:DRYS)

    DryShips Inc., based in Greece, is an owner and operator of drybulk carriers and offshore oil deep water drilling units that operate worldwide. As of the day of this release, DryShips owns a fleet of 39 drybulk carriers (including newbuildings), comprising 7 Capesize, 30 Panamax and 2 Supramax, with a combined deadweight tonnage of over 3.5 million tons and 6 offshore oil deep water drilling units, comprising of 2 ultra deep water semisubmersible drilling rigs and 4 ultra deep water newbuilding drillships.

    DryShips Inc., a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that its fully-owned subsidiary Ocean Rig UDW Inc. has received a Letter of Award from an American exploration company for a four well contract for exploration drilling offshore West Africa for a period of about 300 days, commencing in the first or second quarter of 2011. The contract value is approximately USD 135 million. The contract is subject to final documentation.

    Mr. George Economou, Chairman and CEO of DryShips Inc. and interim CEO of Ocean Rig UDW Inc., said:

    "We are pleased to secure employment for one of our first two drillships that will be delivered from Samsung during the first quarter 2011. This will serve as a catalyst to securing bank financing on preferred terms. We continue to see strong interest for our state of the art sixth generation drillships operated by our experienced ultra-deepwater operator Ocean Rig."

     

     

     

     

     

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