American Stock Exchange Approves Plan Submitted by AXS-One Inc.; Company Expects to Achieve Compliance with Listing Requirements No Later than March 31, 2003.Business Editors & Technology Writers RUTHERFORD, N.J.--(BUSINESS WIRE)--June 17, 2002 AXS-One Inc. (AMEX AMEX See: American Stock Exchange :AXO AXO Asianxo (website) AXO Alpha Chi Omega (sorority) AXO Ach So AXO Access Extension Object ), a leading provider of e-business solutions, today announced that the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. has accepted the Company's plan to bring itself into compliance with the AMEX 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. no later than March 31, 2003 and is continuing the Company's listing pursuant to an extension. This plan was submitted to the AMEX by the Company on April 30, in response to the request contained in the AMEX's letter to the Company dated March 28, as previously reported by the Company in its 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. for its fiscal year ended December 31, 2001. In its letter, the AMEX had informed the Company that the Company was not in compliance with the listing standard that requires the Company to have stockholders' equity of greater than $4,000,000. About AXS-One Inc. AXS-One (AMEX:AXO) is a provider of supply chain management solutions for service industries that extend the finance function and allow organizations to work collaboratively with their partners, suppliers, employees, and customers while preserving investments in existing systems. AXS-One has implemented high-volume, interoperable, scalable and secure business solutions for global 2000 organizations. Its Web Services based technology has been critically acclaimed as best of class. AXS-One has approximately 300 employees in offices worldwide, including Australia, Canada, Singapore, United Kingdom, United States, and South Africa. AXS-One was founded in 1978, and is based in Rutherford, New Jersey Rutherford is a borough in Bergen County, New Jersey, United States. As of the United States 2000 Census, the borough population was 18,110. Rutherford was formed as a borough by an Act of the New Jersey Legislature on September 21, 1881, from portions of Union Township, , U.S.A. For further information, visit the AXS-One web site at http://www.AXS-One.com. This press release contains forward-looking statements. Such statements are only predictions and actual events or results may differ materially. All forward-looking statements involve risks and uncertainties, including, without limitation, the risks detailed in the company's documents and reports filed from time to time with the Securities and Exchange Commission. AXS-One, e-Cellerator, AXS AXS Access AXS Anomalous X-Ray Scattering AXS Alpha Chi Sigma AXS Alpha X-Ray Spectrometer AXS Activex Script Desk, "AXS-One Collaboration FrameWorks," SMART and Tivity are trademarks of, and "Access Tomorrow Today," AXSPoint and TransAXS are registered trademarks of, AXS-One Inc., in the U.S. All other company and product names are trademarks or registered trademarks of their respective companies. |
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