I-many Receives Notice of Non-Compliance With NASDAQ Global Market Listing Requirements

SOURCE:

I-many, Inc.

2008-07-25 17:00:00

I-many Receives Notice of Non-Compliance With NASDAQ Global Market Listing Requirements

I-many Receives Notice of Non-Compliance With NASDAQ Global Market Listing Requirements

Company May Apply to Transfer to the NASDAQ Capital Market

EDISON, NJ–(EMWNews – July 25, 2008) – I-many, Inc. (NASDAQ: IMNY), a leading provider

of contract management software and services for the enterprise, reported

that it received a notice on July 23, 2008 from the Listing Qualifications

division of the NASDAQ Stock Market indicating that the Company’s common

stock is subject to potential delisting from the NASDAQ Global Market

because the market value of the Company’s common stock was below $50

million for 10 consecutive business days, and, therefore, did not meet the

requirement set forth in NASDAQ Marketplace Rule 4450(b)(1)(A) (the

“Rule”). The Rule and the notice relate only to the eligibility of

I-many’s securities to remain listed on the NASDAQ Global Market and do not

affect I-many’s satisfaction of the listing requirements of the NASDAQ

Capital Market. If I-many cannot meet the requirements for continued

listing on the NASDAQ Global Market, I-many intends to apply to transfer

its common stock to the NASDAQ Capital Market.

The notice from the Listing Qualifications division further stated that the

Company is also not in compliance with an alternative test, NASDAQ

Marketplace Rule 4450(b)(1)(B), which requires total assets and total

revenue of $50 million each for the most recently completed fiscal year or

two of the last three most recently completed fiscal years.

In accordance with NASDAQ Marketplace Rule 4450(e)(4), I-many will be

provided a period of 30 calendar days, or until August 22, 2008, to regain

compliance with the Rule and continue listing its common stock on the

NASDAQ Global Market. If at any time before August 22, 2008, the market

value of I-many’s common stock is $50 million or more for a minimum of 10

consecutive business days (or such longer period as the NASDAQ staff may

require in some circumstances), the Company will achieve compliance with

the Rule.

If I-many has not regained compliance with the Rule by August 22, 2008, the

NASDAQ staff will issue a letter notifying the Company that its common

stock will be delisted from the NASDAQ Global Market. At that time, the

Company may appeal the determination to a Listing Qualifications Panel.

If I-many makes an application to transfer its securities to the NASDAQ

Capital Market by August 22, 2008, NASDAQ will stay any delisting

proceedings pending review of the application. I-many believes it

currently meets the criteria to transfer to the NASDAQ Capital Market.

Safe Harbor for Forward-Looking Statements

This press release may contain forward-looking information within the

meaning of Section 21E of the Securities Exchange Act of 1934, as amended

(the Exchange Act), including all statements that are not statements of

historical fact regarding the intent, belief or current expectations of the

company, its directors or its officers. The words “may,” “would,” “will,”

“expect,” “estimate,” “anticipate,” “believe,” “intend” and similar

expressions and variations thereof are intended to identify forward-looking

statements. Investors are cautioned that any such forward-looking

statements are not guarantees of future performance and involve risks and

uncertainties, many of which are beyond the company’s ability to control,

and that actual results may differ materially from those projected in the

forward-looking statements as a result of various factors.

About I-many®

I-many (NASDAQ: IMNY) is the leading provider of contract management

software and services for the enterprise. With hundreds of customers across

21 industries worldwide, I-many is enabling businesses to manage the entire

contract life cycle, from pre-contract processes and contract management to

active compliance and contract optimization. The result is an end-to-end

solution that provides greater levels of insight into contract performance,

allowing companies to improve profitability and achieve a measurable return

on investment. For more information, please visit www.imany.com.

This news release contains forward-looking statements, and actual results

may vary from those expressed or implied herein. Factors that could affect

these results include the risk of unforeseen technical or practical

impediments to planned software development and other risk factors set

forth from time to time in the Company’s filings with the Securities and

Exchange Commission.

Company Contacts:

I-many, Inc.
Kevin Harris
CFO
732-452-1515

or
Investor Relations:
Liolios Group, Inc.
949-574-3860
Ron Both

Geoffrey Plank

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