Pixelplus Announces Receipt of Equity Deficiency Notification Letter from Nasdaq

SEOUL, South Korea , June 23 /PRNewswire-FirstCall/ -- Pixelplus Co., Ltd. (Nasdaq: PXPL), a fabless semiconductor company in Korea that designs, develops, and markets CMOS image sensors for various consumer electronics applications, today...


SEOUL, South Korea , June 23 /PRNewswire-FirstCall/ -- Pixelplus Co., Ltd. (Nasdaq: PXPL), a fabless semiconductor company in Korea that designs, develops, and markets CMOS image sensors for various consumer electronics applications, today announced that the Company received an equity deficiency notification letter from Nasdaq on June 20, 2008 stating that the Company is failing to comply with the minimum $10,000,000 stockholders' equity requirement for continued listing on The Nasdaq Global Market under Marketplace Rule 4450(a)(3).

The Company intends to furnish Nasdaq with a plan that will entail specific measures to achieve and sustain compliance with all Nasdaq Global Market listing requirements, including the minimum stockholders' equity requirement, on or before July 7, 2008 . However, there can be no assurance that Nasdaq will find such plan sufficient, and it may determine that the Company's plan to meet the Global Market listing requirements is insufficient. If Nasdaq determines that the Company has not presented a definitive plan to achieve compliance in the short term and sustain compliance in the long term, the Company may be required to delist its ADSs or transfer the listing of its ADSs to The Nasdaq Capital Market.

About Pixelplus Co., Ltd.

Pixelplus is a South Korea -based developer of high-performance, high-resolution, and cost-effective CMOS image sensors for use primarily in mobile camera phones. In addition to mobile phones, Pixelplus provides CMOS image sensors and SoC solutions for use in webcams and notebook embedded cameras, toys and games, and security and surveillance systems applications.

As a fabless semiconductor company, Pixelplus is focused on creating proprietary design technologies to develop CMOS image sensors with sharp, colorful and enhanced image quality, size efficiency, and low power consumption.

SOURCE Pixelplus Co., Ltd.