Affinity Announces Continuance of Common Stock Listing On the Nasdaq National Market.COLUMBIA, S.C.--(BUSINESS WIRE)--Feb. 26, 1999--Affinity Technology Group, 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 : AFFI) announced today that Nasdaq has determined to continue the listing of the Company's common stock on the Nasdaq National Market. The decision followed a determination by Nasdaq that the Company has evidenced compliance with all requirements for continued listing on the Nasdaq National Market in view of the fact that the Company's stock has closed at or above $1.00 since January 20, 1999. In other news, Affinity announced that Jeff A. Norris, founder and a director of the Company, has filed notice to sell up to an aggregate of 2,040,800 shares of Affinity common stock over a three-month period under Rule 144. Mr. Norris advised the Company that such sales would be made for personal financial reasons primarily to repay all or part of a personal loan, which is secured by Affinity stock owned by Mr. Norris. Affinity's technology enables financial institutions to link their dealers, branches, call centers, and Internet customers electronically to their credit departments, providing fully automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. lending - and, if necessary, connectivity to a loan officer - through every channel. For financial institutions, Affinity's solutions expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. loan decisioning and processing and increase productivity and capacity of branch personnel, call center agents, loan officers, and indirect agents, while improving the overall customer experience. Affinity is located on the World Wide Web at www.affi.net. 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. in this news release are made pursuant to the safe harbor 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. 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. Investors are cautioned that forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those projected. |
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