Summary of I MANY INC - Yahoo! Finance

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transf

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On August 12, 2008, I-many, Inc. received notice from the NASDAQ Stock Market ("NASDAQ") that for the last 30 consecutive business days, the bid price of I-many's common stock has closed below the minimum $1.00 per share requirement for continued inclusion on NASDAQ under Marketplace Rule 4450(a)(5). Pursuant to Marketplace Rule 4450(e)(2), I-many will be provided 180 calendar days, or until February 9, 2009, to regain compliance. NASDAQ further advised the Company that, if the Company successfully applies for transfer from the NASDAQ Global Market to the NASDAQ Capital Market, the Company may be afforded up to 180 additional days to regain compliance with the Rule. The Company applied for transfer to the NASDAQ Capital Market on August 13, 2008 and believes it meets all the requirements for such transfer.

If at any time before February 9, 2009 (or, if applicable, August 10, 2009) the bid price of I-many's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Company will achieve compliance with Marketplace Rule 4450(a)(5). If compliance with the rule cannot be demonstrated by February 9, 2009 (or, if applicable, August 10, 2009), I-many will have the right to appeal a staff determination to delist I-many's securities and I-many's securities will remain listed until completion of the appeal process.

As reported by the Company on a Current Report on Form 8-K dated July 28, 2008, NASDAQ notified the Company on July 23, 2008 that, for the prior ten business days, the market value of the Company's listed securities had been below the minimum $50 million requirement for continued inclusion on the NASDAQ Global Market under Marketplace Rule 4450(b)(1)(A). Because the Company has applied to transfer its securities from the NASDAQ Global Market to the NASDAQ Capital Market (which does not require that the market value of listed securities be at least $50 million), the initiation of the delisting proceedings for non-compliance with Marketplace Rule 4450(b)(1)(A) will be stayed pending NASDAQ's review of the application.

A copy of the press release announcing the notification from NASDAQ is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein in its entirety by reference.