HENLEY REQUESTS NASDAQ LISTING QUALIFICATION PANEL HEARING
SUGAR LAND, Texas--(BW HealthWire)--Jan. 17, 2001--Henley Healthcare Inc.
(Nasdaq:HENL - news) today announced that The Nasdaq Stock Market ("Nasdaq") had
notified the Company that, absent a successful appeal by the Company, its common
stock will be removed from listing on the Nasdaq SmallCap Market. This action by
Nasdaq is based on the Company's failure to maintain a minimum bid price of
$1.00 during the required period. The delisting of the Company's common stock
was to be effective on Jan. 19, 2001, unless the bid price for the Company's
common stock was at least $1.00 for 10 consecutive trading days. The Company
has, however, appealed the decision to the Nasdaq Listing Qualifications Panel
(the "Panel"). The date for the hearing has not yet been established. The
Company has been advised that Nasdaq will not take any action to delist its
common stock pending the decision of the panel. There can be no assurance,
however, that the Company's appeal will be successful, and its common stock may
be delisted from The Nasdaq SmallCap Market if the appeal is denied or if the
Company decides, for business reasons, not to effectuate alternative remedies.
If necessary, the Company would apply to have its common stock traded on the OTC
Bulletin Board.
HENLEY HEALTHCARE INC., A LEADER IN THE GROWING PAIN MANAGEMENT INDUSTRY,
DEVELOPS, MANUFACTURES AND DISTRIBUTES PRODUCTS AND RELATED ACCESSORIES USED IN
THE CONTROL OF ACUTE OR CHRONIC PAIN. THE COMPANY OFFERS A DIVERSIFIED LINE OF
NON-INVASIVE PHYSICAL MEDICINE AND REHABILITATION PRODUCTS THAT ARE USED IN THE
TREATMENT OF DISABILITIES OR INJURIES WITH THERAPEUTIC EXERCISE AND THE
APPLICATION OF VARIOUS HEAT, FLUIDOTHERAPY(R), TRACTION, ULTRASOUND OR OTHER
MODALITIES. HENLEY HEALTHCARE IS ALSO AWAITING FDA APPROVAL ON ITS MICROLIGHT
830(TM), A HAND-HELD, LOW-ENERGY (NON-SURGICAL) LASER FOR THE TREATMENT OF
REPETITIVE STRESS DISORDERS SUCH AS CARPAL TUNNEL SYNDROME. FOR ADDITIONAL
INFORMATION ON HENLEY HEALTHCARE INC. PLEASE VISIT THE COMPANY'S WEB SITE AT
HTTP://WWW.HENLEYHEALTHCARE.COM.
FORWARD LOOKING STATEMENTS
This press release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. All statements other than statements of historical facts, included
in this press release that address activities, events or developments that the
company expects, believes or anticipates will or may occur in the future are
forward-looking statements. Such forward-looking statements are subject to
certain risks, uncertainties and other factors, which could cause actual results
to differ materially from those currently anticipated, including the risks and
uncertainties set forth from time to time in Henley Healthcare's public reports
and filings and other public statements. Readers are cautioned to consider these
risks and uncertainties and not place undue reliance on these forward-looking
statements. By making these forward-looking statements, Henley Healthcare
undertakes no obligation to update these statements for revisions or changes
after the date of this release.
COMPANY CONTACT:
James L. Sturgeon, Chief Financial Officer
Henley Healthcare, Inc.
281.276.7042
[email protected]
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