Contact Information: CONTACTS: Corporate John Thompson AeroGrow International, Inc (303) 444-7755 Investor Budd Zuckerman Genesis Select Corporation (303) 415-0200
AeroGrow Receives Marketplace Rule 4310(c)(3) Notice From NASDAQ
| Source: AeroGrow International, Inc.
BOULDER, CO--(Marketwire - August 13, 2008) - AeroGrow International, Inc. (NASDAQ : AERO )
("AeroGrow" or the "Company"), makers of the AeroGarden® line of indoor
gardening products, announced that on August 11, 2008, the Company was
notified by NASDAQ that it is no longer in compliance with Marketplace Rule
4310(c)(3), which requires the Company to have a minimum $2.5 million in
stockholders' equity, $35 million market capitalization, or $500,000 of net
income from continuing operations for the most recently completed fiscal
year or two of the three most recently completed fiscal years.
NASDAQ staff has requested that, on or before August 26, 2008, the Company
submit its specific plan to achieve and sustain compliance with all listing
requirements, including the time frame for completion of the plan.
AeroGrow expects to submit its plan to NASDAQ on or before August 26, 2008.
About AeroGrow International, Inc.
Founded in 2002 in Boulder, Colorado, AeroGrow International, Inc. is
dedicated to the research, development and marketing of the AeroGarden®
line of indoor gardening products. AeroGardens feature dirt-free, aeroponic
technology, allowing anyone to grow farmer's market fresh herbs, salad
greens, tomatoes, chili peppers, flowers and more, indoors, year-round, so
simply and easily that no green thumb is required. See www.aerogrow.com.
FORWARD-LOOKING STATEMENTS
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Statements by Jerry Perkins, and/or the Company, statements
regarding growth of the AeroGarden product line, optimism related to the
business, expanding sales and other statements in this press release are
forward-looking statements within the meaning of the Securities Litigation
Reform Act of 1995. Such statements are based on current expectations,
estimates and projections about the Company's business. Words such as
expects, anticipates, intends, plans, believes, sees, estimates and
variations of such words and similar expressions are intended to identify
such forward-looking statements. These statements are not guarantees of
future performance and involve certain risks and uncertainties that are
difficult to predict. Actual results could vary materially from the
description contained herein due to many factors including continued market
acceptance of the Company's products or the need to raise additional
capital. In addition, actual results could vary materially based on changes
or slower growth in the kitchen garden appliance market; the potential
inability to realize expected benefits and synergies; domestic and
international business and economic conditions; changes in customer demand
or ordering patterns; changes in the competitive environment including
pricing pressures or technological changes; technological advances;
shortages of manufacturing capacity; future production variables impacting
excess inventory and other risk factors listed from time to time in the
Company's Securities and Exchange Commission (SEC) filings under "risk
factors" and elsewhere. The forward-looking statements contained in this
press release speak only as of the date on which they are made, and the
Company does not undertake any obligation to update any forward-looking
statement to reflect events or circumstances after the date of this press
release.