AASI Nasdaq Hearing Date Set for March 30, 2001.Business Editors LONG BEACH, Calif.--(BUSINESS WIRE)--March 1, 2001 Advanced Aerodynamics aerodynamics, study of gases in motion. As the principal application of aerodynamics is the design of aircraft, air is the gas with which the science is most concerned. & Structures Inc. (Nasdaq:AASI AASI American Association of Snowboard Instructors (affliated with Professional Ski Instructors of America) AASI Abel Assessment for Sexual Interest AASI Automobile Association of South India ) today announced Nasdaq has accepted the company's appeal for a hearing regarding the pending 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. of the company's common stock and class B warrants, which trade under the symbol AASIZ. The hearing date has been scheduled for Friday, March 30, 2001. Pursuant to the rules of the appeal process, the company's common stock and class B warrants will not be delisted pending the hearing's outcome. The pending delisting of its common stock is based upon the bid price closing below $1.00 for 30 consecutive trading days In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. , as well as a failure to maintain a minimum market value of public float of at least $5,000,000 for 30 consecutive days, as well as net tangible assets Net Tangible Assets Calculated as the total assets of a company, minus any intangible assets such as goodwill, patents and trademarks, less all liabilities and the par value of preferred stock. Also known as "net asset value" or "book value". and total Nasdaq review requirements. As previously announced, the initial notification from Nasdaq regarding the class B warrants is based upon Marketplace Rule 4310(c)(1), which stipulates that a minimum of two active market makers must be maintained for continued listing. AASI Aircraft currently has 188 JETCRUZER 500 aircraft orders, representing a backlog of US $226 million. The JETCRUZER 500 is a high-speed single engine, corporate propjet aircraft that can accommodate first-class seating for six people, including the pilot. Powered by a Pratt & Whitney propjet engine, the JETCRUZER 500 will cruise near jet speeds of 345 miles per hour at altitudes of up to 30,000 feet. This news release may contain 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. and assumptions that involve a number of risks and uncertainties. The company's actual results could differ materially from those indicated by such statements and assumptions, as a result of various factors, including Advanced Aerodynamics & Structures Inc.'s ability to receive FAA certification of its JETCRUZER 500 aircraft, its ability to maintain a Nasdaq listing and other related activities discussed in its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 1999, as well as other filings made with the Securities and Exchange Commission from time to time. Although the company believes that such underlying forward-looking statements are reasonable, any of the assumptions could prove inaccurate, and therefore, there can be no assurance that the results contemplated in these forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by the company or any person that the company's objectives or plans will be achieved. The company undertakes no obligation to revise the forward-looking statements contained herein to reflect such events or circumstances after the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" or to reflect the occurrence of unanticipated events. |
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