Park City Group Files Application For NASDAQ Capital Market Listing
Park City Group, Inc. (OTCBB: PCYG), a Software-as-a-Service provider of unique supply chain solutions for retailers and their suppliers, today announced that the Company has filed an application to list its common stock on the NASDAQ Capital Market.
“We believe that elevating the listing of our common stock to the NASDAQ Capital Market will be an important step forward in our mission of enhancing shareholder value and complements the record operational progress we are making. As the Park City Group investment story improves, the NASDAQ listing should enable us to increase the trading liquidity of our stock, broaden our shareholder base, and raise our profile in the investment community,” said Randall K. Fields, Park City Group’s Chairman and CEO.
On July 20, 2010, Park City Group announced that it expects to report significant increases in revenue and earnings before interest, taxes, depreciation and amortization (EBITDA) for fiscal year 2010. Full year revenue is expected to be approximately $10.9 million, an increase of approximately 82% as compared with approximately $6.0 million in fiscal 2009. Full year adjusted EBITDA, projected to exceed the Company’s previously announced goal by nearly 13%, is expected to be approximately $2.6 million, an increase of over 600% as compared with $357,000 pro-forma adjusted (for the Prescient acquisition) EBITDA for fiscal 2009.
The NASDAQ listing application is subject to review and approval by NASDAQ’s Listing Qualifications Department to ensure compliance with all NASDAQ Capital Market Standards. Park City Group anticipates the NASDAQ review process to last approximately two months or longer before completion. While the Company intends to satisfy all of NASDAQ’s requirements for initial listing, no assurance can be given that its application will be approved. The Company's common stock will continue to trade on the OTC Bulletin Board under its current symbol, PCYG, during the NASDAQ review process.
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