WEST PALM BEACH, Fla., Aug. 4, 2008 (PRIME NEWSWIRE) -- Quepasa Corporation (Nasdaq:QPSA), owner of Quepasa.com, an online social community for young Latinos, has received formal notice from NASDAQ of compliance with Rule 4310(c)(3)(A) regarding stockholders' equity.
"We are pleased to regain compliance with the NASDAQ Listing Requirement as a result of meeting the minimum stockholders equity provision," said John C. Abbot, Quepasa Chief Executive Officer. "Quepasa is making strong progress, both in terms of our financial metrics and our business initiatives. We have a detailed product and services roadmap and look forward to announcing a number of new and innovative concepts that will continue to enhance the Quepasa site and provide a fun and interesting environment for our members."
About Quepasa Corporation
Quepasa Corporation (Nasdaq:QPSA), headquartered in West Palm Beach, FL (with offices in Los Angeles, Scottsdale, Miami and Hermosillo, MX), owns Quepasa.com, an online social community for young Latinos in the U.S. and Latin countries committed to providing fun, interactive, and easy to use social tools and rich multimedia content to embrace Latinos and empower them to connect on-line and share their interests, ideas, and activities.
The Quepasa Corp. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=5287
Safe Harbor/Forward-Looking Statements of Quepasa Corporation
Statements in this press release that refer to plans and expectations for the future are forward-looking statements that involve a number of risks and uncertainties. A number of factors could cause future results to differ materially from historical results, or from results or outcomes currently expected or sought by the company. In addition to the Risk Factors described in Item 1 of the Company's Form 10-KSB, as amended, for the fiscal year ended December 31, 2006, these factors include, but are not limited to, our current level of indebtedness and the restrictions in our subordinated promissory notes, which may make it difficult for us to obtain additional financing; the possibility of liability for information displayed or accessed via the Company's Web site and for other commerce-related activities; competition in the operation of Web sites and in the provision of information retrieval services; changing laws, rules, and regulations; potential liability for breaches of security on the Internet; dependence on third party databases and computer systems; competition from traditional media companies; new technologies that could block the Company's ability to advertise; and, with respect to the matters described in this press release, the success of the Company's senior management team.