Able Energy Requests Nasdaq Hearing.Energy Editors/Business Editors ROCKAWAY Rockaway, narrow peninsula, c.10 mi (16 km) long, SW Long Island, SE N.Y., in Queens borough of New York City. Separating Jamaica Bay from the Atlantic Ocean and isolated from the rest of New York City, the densely populated peninsula owes its growth to road and rail , N.J.--(BUSINESS WIRE)--Feb. 26, 2004 Able Energy, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABLE) today announced that it has received a Nasdaq Staff Determination on February 19, 2004 indicating that Able Energy fails to comply with the 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. requirement of $2.5 million for its common stock, for continued listing, set forth in Marketplace Rule 4310 (c)(2)(B), and that its securities are therefore subject to de-listing from the Nasdaq SmallCap Market. The Company has requested a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination. There can be no assurances the Panel will grant the Company's request for continued listing. If de-listed from the Nasdaq SmallCap Market the Company's securities would be eligible to trade on the Electronic Bulletin Board. The statements contained in this Press Release contain certain 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. , including statements regarding Able and its subsidiaries expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to Able's management as of 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" and actual results may vary based upon future events, both within and without Able management's control. |
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