Delisting Determination,The Nasdaq Stock Market, LLC,
October 6, 2009, Velocity Express Corporation. The Nasdaq Stock
Market, Inc. (the Exchange) has determined to remove from
listing the common stock of Velocity Express Corporation
(the Company), effective at the opening of the trading
session on October 16, 2009. Based on review of information
provided by the Company, Nasdaq Staff determined that the
Company no longer qualified for listing on the Exchange
pursuant to Listing Rule 5550(b)(1). The Company
was notified of the Staffs determination
on February 4, 2009. The Company requested a review of the
Staffs determination before the Listing Qualifications Hearings
Panel. Upon review of the information provided by the Company,
the Panel issed a decision dated April 20, 2009, granting
the COmpany an exception until August 3, 2009, conditioned
upon the Company's regaining compliance by that date.
On July 27, 2009, the Panel issued a decision notifying
the Company that because it had not regained compliance
with Rule 5550(b)(1),it did not qualify for inclusion on
the Exchange. Trading in the Companys securities was suspended
on August 5, 2009. The Company did not request a review
of the Panels decision by the Nasdaq Listing and Hearing
Review Council. The Listing Council did not call the
matter for review. The Panels Determination to delist
the Company became final on September 17, 2009.