DELRAY BEACH, Fla., Aug. 30, 2011 (GLOBE NEWSWIRE) -- PositiveID Corporation (“PositiveID” or “Company”) (Nasdaq:PSID), a developer of medical technologies for diabetes management, clinical diagnostics and bio-threat detection, announced today that its Board of Directors (the “Board”), has determined not to effect a reverse stock split and instead intends to move the Company to the OTC Bulletin Board. The Board considered implementing a reverse stock split for the purpose of allowing the Company’s common stock to regain compliance with the $1.00 per share minimum bid price requirement of the Nasdaq Capital Market, on which the Company’s common stock is currently listed. The Board believes a reverse stock split is not in the Company’s and its stockholders’ best interests at this time.
