Advanced Marketing Services, Inc. Announces New York Stock Exchange's Denial of Request for Additional Trading of the Company's Stock.SAN DIEGO -- Advanced Marketing Services, Inc. (NYSE NYSE See: New York Stock Exchange :MKT MKT Marketing MKT Mortal Kombat Trilogy MKT Missouri-Kansas-Texas Railroad MKT Mobile Kitchen Trailer MKT Mu Kappa Tau (marketing honor society) MKT M.K.Thyagaraja Bhagavathar ), a leading provider of customized wholesaling and distribution services to book retailers and publishers, today announced that the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. ("NYSE") has denied the Company's previously-announced request for an additional three months of trading of the Company's common stock on the NYSE. As a result, the Company's stock will be suspended from trading on the NYSE effective prior to the opening of market on April 19, 2005. Pursuant to the NYSE's proposed listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. , in order for the Company's common stock to continue to trade on the NYSE, the Company was required to file its Annual Report on Form 10-K for fiscal year 2004 ("the 2004 annual report") with the Securities and Exchange Commission no later than March 29, 2005. The Company and its independent auditors were not able to complete the work required to file the 2004 annual report prior to this deadline. The NYSE's decision to suspend trading of the Company's stock was based on the Company's inability to timely file the 2004 annual report, and not on any new information uncovered in the audit process. The Company confirmed that it is continuing to work diligently with its independent auditors to complete the audit work required to file the 2004 annual report as soon as possible, although the Company cannot predict when the 2004 annual report will be filed. The Company expects continued trading of its stock on the Pink Sheets Electronic Quotation Service Electronic Quotation Service An Internet-based quotation service operated by Pink Sheets LLC for brokers and market makers of over-the-counter equities and bonds. ("Pink Sheets"), a provider of pricing and financial information for the over-the-counter securities markets. There can be no assurance that the Company's stock will trade on the Pink Sheets. The Company appreciates the continued support of its customers, publishers, suppliers and employees. ABOUT ADVANCED MARKETING SERVICES, 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. , Advanced Marketing Services, Inc. (AMS AMS - Andrew Message System ) is a leading provider of customized wholesaling, distribution and publishing services to the book industry. The Company has operations in the U.S., Mexico, the United Kingdom and Australia and employs approximately 1,400 people worldwide. AMS provides a full range of value-added services that provide its retail customers with book buying advice and expert supply chain management, including advertising and promotional support, to ensure the success of their book programs. The Company's proprietary Vendor Managed Inventory Vendor Managed Inventory (VMI) is a family of business models in which the buyer of a product provides certain information to a supplier of that product and the supplier takes full responsibility for maintaining an agreed inventory of the material, usually at the buyer's (VMI VMI Virginia Military Institute VMI Vendor Managed Inventory VMI Vertical Motion Index VMI Valtakunnan Metsien Inventointi (Finnish: National Forest Inventory) VMI Video Module Interface ) software is a unique tool that allows its book specialists to manage efficiently and effectively the book distribution supply chain for the benefit of its membership warehouse club customers. Publishers Group Worldwide (PGW PGW Philadelphia Gas Works PGW Publishers Group West PGW Precision Guided Weapons PGW Payment Gateway PGW Pressure Gas Welding PGW Pesticides in Ground Water PGW Parallel Gap Welding PGW Propylene glycol/water PGW Project on Girls and Women ), an alliance of the global book distribution operations of AMS, provides independent publishers with exclusive full service English language sales and distribution services. Recent public announcements about Advanced Marketing Services, Inc. are available on both the Company's Website, www.advmkt.com, and on Business Wire, www.businesswire.com. Forward-looking statements in this public announcement are made under the safe harbor provisions of 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. All statements other than statements of historical fact are forward-looking statements that involve risks and uncertainties, including the statement that the Company expects continued trading of its stock on the Pink Sheets. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements, including the results of the independent audit of the Company's financial statements, the ongoing internal review, and other factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company does not assume any duty to update forward-looking statements. Such statements are based on information available as of the date hereof, and are made only as of the date of this public announcement. |
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