BOCA RATON, Fla.--(BUSINESS WIRE)--
Ominto, Inc. (Nasdaq:OMNT), a global leader in online Cash Back
shopping, today announced that on August 22, 2017, Ominto, Inc. (the
"Company") received a letter from the Nasdaq Stock Market, indicating
that the Company is not in compliance with Nasdaq's continued listing
requirements under the timely filing criteria outlined in Listing Rule
5250(c)(1). Such non-compliance is a result of the Company having not
timely filed with the U.S. Securities and Exchange Commission, its
quarterly report on Form 10-Q for the quarter ended June 30, 2017 (the
"Form 10-Q"). The letter states that the Company must submit a plan no
later than October 23, 2017, setting forth the actions it will take to
regain compliance with the Listing Rules for continued listing. If
Nasdaq accepts such plan, the Company may be granted an exception of up
to 180 calendar days from the date the Form 10-Q was due, or until
February 12, 2018, to regain compliance. The Company intends to submit a
plan to Nasdaq as soon as practicable, but in no event later than
October 23, 2017. The letter from Nasdaq has no immediate effect on the
listing of the Company's common stock on the Nasdaq Capital Market.
About Ominto, Inc.
Ominto, Inc. is a global e-commerce leader and pioneer of online Cash
Back shopping, delivering value-based shopping and travel deals through
its primary shopping platform and affiliated Partner Program websites.
At DubLi.com or at Partner sites powered by Ominto.com, consumers shop
at their favorite stores, save with the best coupons and deals, and earn
Cash Back with each purchase. The Ominto.com platform features thousands
of brand name stores and industry-leading travel companies from around
the world, providing Cash Back savings to consumers in more than 120
countries. Ominto's Partner Programs offer a white label version of the
Ominto.com shopping and travel platform to businesses and non-profits,
providing them with a professional, reliable web presence that builds
brand loyalty with their members, customers or constituents while
earning commission for the organization and Cash Back for shoppers on
each transaction.
For more information, please visit Ominto's corporate website http://inc.ominto.com.
Forward-looking Statements
This press release contains forward-looking statements that involve
substantial risks and uncertainties. These include statements about
Ominto's expectations, beliefs, intentions or strategies for the future,
which are indicated by words or phrases such as "anticipate," "expect,"
"intend," "plan," "will," "believe," "projects," "could," "would," and
similar expressions. You can also identify them by the fact that they do
not relate strictly to historical or current facts. The forward-looking
statements reflect Ominto's current view about future events and are
subject to risks, uncertainties and assumptions. Because forward-looking
statements relate to the future, by their nature, they are subject to
inherent uncertainties, risks, and changes in circumstances that are
difficult to predict. Ominto may not actually achieve the expectations
disclosed in the forward-looking statements and you should not place
undue reliance on Ominto's forward-looking statements. These
forward-looking statements involve risks and uncertainties that could
cause actual results or events to differ materially from the
expectations disclosed in the forward-looking statements, including, but
not limited to: risks related to our ability to continue as a going
concern being in doubt; Ominto's inability to generate enough customers
or enough purchasing activity for our shopping websites; Ominto's
inability to establish and maintain a large growing base of Business
Associates; Ominto's failure to adapt to technological change; increased
competition; increased operating costs; changes in legislation
applicable to Ominto's business; Ominto's failure to improve our
internal controls; and Ominto's inability to generate sufficient cash
flows from operations or to secure capital to enable us to maintain our
current operations or support our intended growth; along with other
risks and potential factors that could affect Ominto's business and
financial results identified in Ominto's filings with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for the
fiscal year ended September 30, 2016.

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Ominto, Inc.
Josh Hochberg
[email protected]
Source: Ominto, Inc.
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