@Track Communications Receives Nasdaq DeListing Notification; DeListing Action Halted Pending Panel Decision on Appeal.Business Editors & High-Tech Writers RICHARDSON, Texas--(BUSINESS WIRE)--Dec. 13, 2000 @Track Communications, Inc. (Nasdaq SCP (1) (Service Control Point) A node in an SS7 telephone network that provides an interface to databases, which may reside within the SCP computer or in other computers. :ATRK), a leading provider of wireless-based vehicle fleet management and intelligent mobile asset-tracking solutions, today announced that it received a Nasdaq Staff Determination on Dec. 6, 2000, indicating that the company has failed to comply with the net tangible asset/market capitalization/net income requirement for continued listing on the Nasdaq SmallCap Market as set forth in Marketplace Rule 4310 (c)(2)(B). The Nasdaq Staff Determination letter further indicated that @Track's securities were subject to delisting Delisting When the stock of a company is removed from a stock exchange. Notes: Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. from the Nasdaq SmallCap Market effective at the opening of business on Dec. 15, 2000 unless the company requested a hearing before the Nasdaq Listing Qualifications Panel (the "Panel"). On December 7, 2000, the company filed a request for hearing before the Panel to review the Staff Determination. The hearing request automatically suspends the delisting action previously scheduled for Dec. 15, 2000, until the Panel reaches a final decision on the company's appeal. The hearing before the Panel has been scheduled for January 11, 2001. There can be no assurances that the Panel will grant @Track's request for continued listing on the Nasdaq SmallCap Market, and if the request is denied, the company anticipates that its securities will be traded on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . The OTCBB OTCBB See OTC Bulletin Board (OTCBB). is a controlled quotation QUOTATION, practice. The allegation of some authority or case, or passage of some law, in support of a position which it is desired to establish. 2. Quotations when properly made, assist the reader, but when misplaced, they are inconvenient. service that offers real-time quotes, last-sale prices and volume information in over-the-counter equities. @Track provides intelligent wireless mobile communications, emergency dispatch A dispatch or dispatches can refer to:
Legal notice to investors: Certain matters discussed in this press release are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " intended to qualify for the safe harbors Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. from liability established by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the Company "expects," "believes" "anticipates" or words of similar import. Similarly, statements that describe the Company's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements generally involve known and unknown risks, uncertainties and other facts, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: ability of Company to maintain listing on Nasdaq SmallCap Market; market conditions; general economic and business conditions; business abilities and judgment of management and personnel; and changes in business strategy. For a listing of risks applicable to the future prospects of the Company, please refer to the reports filed with the SEC, such as recent 10-K and 10-Q Reports. "@Track Communications," "TrackWare" and the red orb logotype are trademarks and service marks of @Track Communications, Inc. |
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