ANDATACO, Inc. to Trade On "OTC" Bulletin Board.SAN DIEGO--(BUSINESS WIRE)--Dec. 4, 1998--ANDATACO, Inc. (formerly Nasdaq SmallCap symbol:ANDA ANDA abbr. abbreviated new drug application ) announced its common shares have commenced trading on the Over-The-Counter Bulletin Board(R) (symbol ANDA) effective December 4, 1998. The Bulletin Board is an automated exchange allowing real time access to the Company's stock price through brokerage systems as well as the Internet. This follows the decision by the Nasdaq Listing Qualifications Panel not to accept ANDATACO, Inc.'s appeal for a temporary exemption from a Nasdaq SmallCap rule change which now requires a minimum market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of $35 million for continued listing on the Nasdaq SmallCap Market. ANDATACO, Inc. remains a reporting company under the SEC rules. Harris Ravine, chief executive officer of ANDATACO, Inc. said, "While the stock's trading forum is important, I believe that the Company's recent announcement of positive earnings for the fourth quarter is more significant. I remain optimistic about the Company's ability to continue this trend into Fiscal 1999. We are disappointed that Nasdaq made this decision at this time. However, we believe it will not have a material effect on our financial strength, our business strategy or our ability to meet our customers' demands." ANDATACO, Inc., headquartered in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. designs, manufactures, and distributes storage solutions for Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. and UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). environments. The Company's products include RAID and RAID-ready disks storage, tape backup Using magnetic tape for storing duplicate copies of hard disk files. Users can add an internal or external tape drive to their desktop computers for backup purposes, and files are typically copied to the tapes using a backup utility that updates on a periodic schedule. and restore products; and storage management software. Technical support and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. back the Company's products. The Company distributes internally developed products, and products from other manufacturers, through a network of sales offices worldwide and through business affiliates in Europe, Asia, Latin America, Canada, and Australia. Information on ANDATACO, Inc.'s award-winning products can be accessed via the Internet at www.andataco.com. Except for the factual statements made herein, the information contained in this press release consists of forward-looking statements that involve risks and uncertainties. Any such statements are based on the assumptions and expectations of the Company's management at the time these statements are made. The Company's actual results could differ materially from those contained in such statements. Factors that could cause or contribute to such differences include unexpected cancellation of customer orders, the timing and market acceptance of new product introductions by the Company and its competitors, and general competition and price pressures in the marketplace. Reference is also made to other factors set forth in the Company's filings with the Securities and Exchange Commission including the "Risk Factors", "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial " and other sections of the Company's 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 most recently completed fiscal year and the Company's other periodic reports. |
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