SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Oct. 26, 2009--
iGo, Inc. (Nasdaq: IGOI), a leading provider of power management
solutions, today announced that Larry M. Carr has informed the Company
that he is resigning from the Board of Directors immediately due to
health reasons. Mr. Carr has served as a member of the Board of
Directors of iGo since September 2000.
“Our thoughts and prayers go out to Larry and his family,” said Michael
J. Larson, Chairman of the Board of Directors of iGo, Inc. “We greatly
appreciate all the years of service that Larry has given iGo and we will
miss his support and guidance.”
Due to the resignation of Mr. Carr, iGo has received written
notification from The NASDAQ Stock Market that the Company no longer
complies with NASDAQ’s audit committee composition requirements set
forth in NASDAQ Listing Rule 5605, which requires listed companies to
maintain an audit committee comprised of at least three members, all of
whom must be independent.
Consistent with NASDAQ Listing Rule 5605(c)(4)(A), NASDAQ will provide
the Company with a cure period to regain compliance as follows:
-
Until the earlier of the Company’s next annual shareholders’ meeting
or October 20, 2010; or
-
If the next annual shareholders’ meeting is held before April 19,
2010, then the Company must evidence compliance no later than April
19, 2010
During the cure period, the Company’s shares will remain listed on the
NASDAQ Global Market, subject to the Company’s continued compliance with
other NASDAQ listing requirements. The Board of Directors has commenced
a search for a new independent director.
About iGo, Inc.
iGo, Inc., based in Scottsdale, Arizona, is a leading provider of power
management solutions, including eco-friendly chargers for laptop
computers, netbooks and mobile electronic devices (e.g., mobile phones,
PDAs, digital cameras, etc.). All of these chargers leverage iGo’s
intelligent tip technology, which significantly minimizes electronic
waste by enabling one charger to power/charge hundreds of brands and
thousands of models of mobile electronic devices through the use of
interchangeable tips. iGo is also the creator of a new, innovative
patent-pending power saving technology that automatically eliminates
virtually all wasteful and expensive standby or “vampire” power that is
generated from chargers that continue to draw electricity when a mobile
electronic device no longer requires charging or is disconnected from
the charger.
iGo’s products are available at www.iGo.com
as well as through leading resellers and retailers. For additional
information call 480-596-0061, or visit www.igo.com.
iGo is a registered trademark of iGo, Inc. All other trademarks or
registered trademarks are the property of their respective owners.
Source: iGo, Inc.
Financial Profiles
Tony Rossi, 310-277-4711, ext. 119
trossi@finprofiles.com
