INX Inc. Receives Favorable Listing Decision from NASDAQ (INXI)

HOUSTON--(BUSINESS WIRE)-- INX Inc. INXI today announced receipt of a positive determination from the NASDAQ Listing Qualifications Panel (the “Panel”), advising the Company that the Panel had determined to grant the Company's request for continued listing on The NASDAQ Stock Market, subject to the Company filing its periodic reports, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2009, and its Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30, and September 30, 2010, with the Securities and Exchange Commission by April 11, 2011. This date represents the maximum length of time that the Panel may grant under NASDAQ's Listing Rules. As previously announced, the Company identified historical accounting errors that require a restatement of its financial statements reported on Form 10-K/A for the year ended December 31, 2008, the financial statements reported on Form 10-Q/A for the quarterly period ended March 31, 2009, and the financial statements reported on Form 10-Q for the quarterly periods ended June 30, 2009 and September 30, 2009. Due to the review and analysis of these errors, the Company was unable to timely file its annual report for the fiscal year ended December 31, 2009, and the subsequent reports for the quarterly periods ended March 31, June 30, and September 30, 2010. The Company continues to work towards the completion of all of its periodic reports and intends to make all necessary filings as soon as possible. However, there can be no assurance that the Company will timely satisfy the terms of the Panel's decision in this matter.