CARLSBAD, Calif.--(BUSINESS WIRE)--May. 8, 2009--
Orange 21 Inc. (NASDAQ:ORNG) announced today that it received approval
from the Nasdaq Listing Qualifications Staff to transfer the listing of
its common stock from the Nasdaq Global Market to the Nasdaq Capital
Market. The transfer is effective as of the Market opening on Friday,
May 8, 2009.
The Nasdaq Capital Market is one of the three market tier designations
for Nasdaq-listed stocks, and operates in substantially the same manner
as the Nasdaq Global Market. The Nasdaq Capital Market currently lists
the securities of approximately 550 companies. Our trading symbol will
remain “ORNG” and trading of our stock will be largely unaffected by
this change. Securities listed on the Nasdaq Capital Market must satisfy
all applicable qualification requirements for Nasdaq securities and all
companies listed on the Nasdaq Capital Market must meet certain
financial requirements and adhere to Nasdaq’s corporate governance
About Orange 21 Inc.
Orange 21 designs, develops, markets and produces premium products for
the action sport, motorsports, snowsports and youth lifestyle markets.
Orange 21’s primary brand, Spy Optic(TM), manufactures sunglasses and
goggles targeted toward the action sports, motorsports, snowsports and
youth lifestyle markets.
Safe Harbor Statement
This press release contains forward-looking statements. These statements
relate to future events or future financial performance and are subject
to risks and uncertainties. In some cases, you can identify
forward-looking statements by terminology such as “may,” “will,”
“should,” “expect,” “plan,” “anticipate,” “believe,” “feel,” “estimate,”
“predict,” “potential” or “continue,” the negative of such terms or
other comparable terminology. Specifically, comments in this press
release regarding the impact that the transfer might have on trading of
our common stock are forward-looking statements and are subject to
inherent risks. These statements are only predictions. Actual events or
results may differ materially. Factors that could cause actual results
to differ materially from those contained in the forward-looking
statements include, but are not limited to: the general conditions of
the domestic and global economy; changes in consumer discretionary
spending; changes in the value of the U.S. Dollar, Canadian Dollar and
Euro; changes in commodity prices; our ability to source raw materials
and finished products at favorable prices; risks related to the limited
visibility of future orders; our ability to continue to develop, produce
and introduce innovative new products in a timely manner; our ability to
identify and execute successfully cost-control initiatives without
adversely impacting sales; the performance of new products and continued
acceptance of current products; our execution of strategic initiatives
and alliances; uncertainties associated with intellectual property
protection for our products; and other risks identified from time to
time in our filings made with the U.S. Securities and Exchange
Commission. Although, we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future
results. We assume no responsibility for the accuracy or completeness of
such forward-looking statements and undertake no obligation to update
any of these forward-looking statements.
Source: Orange 21 Inc.
Orange 21 Inc.
A. Stone Douglass, Chief Executive Officer