Allied Devices Receives Delisting Notice From Nasdaq.Business Editors HICKSVILLE, N.Y.--(BUSINESS WIRE)--Sept. 13, 2002 Allied Devices Corporation (Nasdaq: ALDV), today reported that it had received a Nasdaq Staff Determination on September 6, 2002, indicating that the Company has failed to comply with the minimum bid price requirement for continued listing on the Nasdaq SmallCap Market as set forth in Marketplace Rule 4310(c)(4), and, therefore, its securities are subject to delisting Delisting When the stock of a company is removed from a stock exchange. Notes: Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. from the Nasdaq SmallCap Market. Accordingly, the Company's Common Stock will be delisted from the Nasdaq SmallCap Market as of the opening of business on September 16, 2002. The Company expects its Common Stock (ALDV) will trade on the Over-the-Counter Bulletin Board (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB) under the same symbol following its delisting from The Nasdaq SmallCap Market. Allied Devices is a leading manufacturer and distributor of high precision mechanical assemblies and components used in industrial and commercial equipment. These products, manufactured to exacting tolerances, provide precision motion control in such products as factory automation, robotics robotics, science and technology of general purpose, programmable machine systems. Contrary to the popular fiction image of robots as ambulatory machines of human appearance capable of performing almost any task, most robotic systems are anchored to fixed positions , aerospace and scientific instrumentation instrumentation, in music: see orchestra and orchestration. instrumentation In technology, the development and use of precise measuring, analysis, and control equipment. , semiconductor equipment, and medical diagnostic and operating room operating room n. Abbr. OR A room equipped for performing surgical operations. equipment. All statements contained herein that are not historical facts, including but not limited to statements regarding the Company's current business strategy and the Company's plans for future development, operations and capital raising, are based upon current expectations. For factors, which could affect the realization of those expectations, see the Company's current annual report on 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. . |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion