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23.11.2005 21:00:00
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Motive, Inc. Receives Notice From NASDAQ Due to Late Filing of Form 10-Q -- Company Intends to Request Hearing
The Company intends to appeal the NASDAQ Staff's determination byrequesting a hearing before a NASDAQ Listing Qualifications Panel,which will automatically stay the delisting of Motive's common stockpending the Panel's review and determination. Until the Panel issues adetermination and the expiration of any exception granted by thePanel, Motive's common stock will continue to be traded on The NASDAQNational Market. However, as a result of the delayed filing of itsForm 10-Q, the trading symbol for the Company's common stock will bechanged from MOTV to MOTVE, effective as of November 25, 2005.
As previously announced, the Company has delayed filing itsQuarterly Report on Form 10-Q due to a review being conducted by theAudit Committee of Motive's Board of Directors with respect to certainreseller transactions. The Company is fully cooperating with thereview so that it may be finalized as promptly as possible and theCompany may complete its Form 10-Q for the fiscal quarter endedSeptember 30, 2005. However, there can be no assurance that the Panelwill grant an exception to allow the continued listing of theCompany's common stock on The NASDAQ Stock Market until the Companyfiles its Form 10-Q for the fiscal quarter ended September 30, 2005with the Securities and Exchange Commission.
About Motive, Inc.
Motive, Inc. (NASDAQ:MOTV) has pioneered a unique approach todesigning management services into Internet-era networks, systems andapplications. Motive's software makes complex products and servicesself-managing, reducing overhead costs and optimizing customers'return on investment. Companies worldwide have relied on Motive'ssoftware to provide a range of problem remediation and configurationmanagement tasks for more than 45 million endpoints. Founded in 1997,Motive is headquartered in Austin, Texas, and has offices in Europeand Asia. For more information, visit www.motive.com.
This press release contains forward-looking statements thatinvolve risks and uncertainties, and actual events or results maydiffer materially from those described or implied in this pressrelease. The potential risks and uncertainties include, among otherthings: (i) the timing and results of the Audit Committee review, (ii)the nature and scope of the Audit Committee review, (iii) expectationsas to the completion of the investigation and timing of the filing ofthe Quarterly Report on Form 10-Q for the period ended September 30,2005, and (iv) any listing requirements which may be prescribed or anydetermination which may be made by a NASDAQ Listing QualificationsPanel. Additional information concerning risk factors associated withour business can be found in our filings with the Securities andExchange Commission, which are available at www.sec.gov. Statementsincluded in this press release are based upon information known to usas of the date of this release, and we assume no obligation to updateany information contained in this press release.
Motive and the Motive logo are trademarks or registered trademarksof Motive, Inc. All other products or services mentioned herein aretrademarks of their respective holders.
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