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

On August 25, 2008, I-many, Inc.'s common stock began trading on the NASDAQ Capital Market.

As previously reported, on August 12, 2008, the Company received notice from the NASDAQ Stock Market ("NASDAQ") that for the last 30 consecutive business days preceding the date of that notice, the bid price of the Company's common stock closed below the minimum $1.00 per share requirement for continued inclusion on NASDAQ under Marketplace Rule 4450(a)(5). NASDAQ notified the Company that it had 180 calendar days, or until February 9, 2009, to regain compliance. By letter dated August 21, 2008 from NASDAQ to the Company, NASDAQ has notified the Company that effective on the transfer of the common stock to the NASDAQ Capital Market, the Company will be afforded the remainder of the compliance period. If compliance with the $1.00 bid price requirement cannot be demonstrated by February 9, 2009, NASDAQ will determine whether the Company meets the Capital Market initial listing criteria set forth in Marketplace Rule 4310(c). If it meets the initial inclusion criteria, NASDAQ will notify the Company that it has been afforded an additional compliance period, up to August 7, 2009. Otherwise, NASDAQ will provide written notification that the Company's securities will be delisted. At that time, the Company may appeal NASDAQ's determination to delist its securities.

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