Alliance Fiber Optic Products, Inc. --AFOP-- to Transfer to Nasdaq SmallCap Market.Business Editors/High-Tech Writers SUNNYVALE, Calif.--(BUSINESS WIRE)--Nov. 8, 2002 Nasdaq SmallCap Market Application Approved; Transfer Scheduled for the Commencement of Trading on November 8, 2002 Alliance Fiber Optic Products, Inc. (Nasdaq:AFOP AFOP Alliance Fiber Optic Products, Inc. AFOP Association of Farmworker Opportunity Programs AFOP Association Française des industries de l'Optique et de la Photonique AFOP and for other purposes AFOP acute fibrinous and organizing pneumonia ), an innovative supplier of fiber optic components, subsystems and integrated modules for the optical network equipment market, today announced that it will transfer the listing of its common stock to the Nasdaq SmallCap Market from the Nasdaq National Market. The Company's common stock will be transferred to the Nasdaq SmallCap Market at the commencement of trading on November 8, 2002, and will continue to trade under the symbol AFOP. The Nasdaq SmallCap Market is fully automated, provides real-time trade reporting Real-Time Trade Reporting A requirement imposed on Market Makers (and in some instances, nonMarket Makers) to report each trade immediately after completing the transaction. Notes: Traded stocks are subject to realtime trade reporting within 90 seconds of execution. and is a marketplace for more than 800 companies. With the introduction of the Nasdaq SuperMontage (SM) trading system The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. this year, securities listed on both the Nasdaq National Market and Nasdaq SmallCap Market share a unified, more liquid and transparent order entry system. AFOP elected to seek a transfer to the Nasdaq SmallCap Market as its common stock had not met Nasdaq's $1 per share minimum bid price requirement for continued listing on the National Market. By transferring to the Nasdaq SmallCap Market, AFOP may be afforded extended grace periods in which to satisfy the minimum bid price requirement, potentially until July 10, 2003, provided the Company meets other applicable listing criteria. Furthermore, the Company may be eligible to transfer back to the Nasdaq National Market if its bid price achieves and maintains the $1 per share minimum requirement for 30 consecutive trading days and it has maintained compliance with all other continued 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. of the Nasdaq National Market. Other than the $1 minimum bid price, the Company believes that it meets all of the Nasdaq National Market listing requirements. About AFOP Founded in 1995, Alliance Fiber Optic Products, Inc. designs, manufactures and markets a broad range of high performance fiber optic components and integrated modules. AFOP's products are used by leading and emerging communications equipment manufacturers to deliver optical networking Communications between computers, telephones and other electronic devices using light. An optical network is far more reliable and has far greater potential transmission capacity than networking in the electrical domain. See optical fiber. systems to the long-haul, metropolitan and last mile access segments of the communications network The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. . AFOP offers a broad product line of passive optical components including interconnect systems, couplers and splitters, thin film DWDM (Dense WDM) The term given to wavelength division multiplexing (WDM) when significantly more channels were being added. Since WDM is increasingly more "dense" all the time, both terms are used synonymously. See WDM. DWDM - wavelength division multiplexing components and modules, fixed and variable optical attenuators, and depolarizers. AFOP is headquartered in Sunnyvale, Calif., with manufacturing and product development capabilities in the United States, Taiwan and China. AFOP's website is located at http://www.afop.com. Except for the historical information contained herein, the matters set forth in this press release, including statements such as the anticipated benefits for AFOP resulting from the transfer to Nasdaq SmallCap Market, are forward-looking statements within the meaning of 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. These forward-looking statements are subject to risks and uncertainties that may caused actual results to differ materially, including, but not limited to, risks detailed from time to time in AFOP's reports filed with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the period ended June 30, 2002. These forward-looking statements speak only as of the date hereof. AFOP disclaims any intention or obligation to update or revise any forward-looking statements. |
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