Amplidyne Announces Appeal of Nasdaq Staff Determination To Delist Its Securities From The Nasdaq SmallCap Market.Business Editors RARITAN, N.J.--(BUSINESS WIRE)--Nov. 4, 2002 Amplidyne am·pli·dyne n. A rotating magnetic amplifier with specialized windings that allow small changes in power input to produce large changes in power output. [Originally a trademark.] , 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 : AMPD AMPD Alisveris Merkezleri ve Perakendeciler Dernegi (Turkish Council of Shopping Centers and Retailers) AMPD Adenosine Monophosphate Deaminase AMPD Average Miles Driven Per Day AMPD Atomic and Molecular Physics Division ) announced today that it received a Nasdaq Staff determination on October 28, 2002, indicating that the Company fails to comply with the stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. requirement for continued listing set forth in MarketPlace Rule 4310(c)(2)(B) and that its securities are, therefore, subject to delisting from the Nasdaq SmallCap Market. In addition, the Staff has advised the Company that its common stock failed to maintain a closing bid price of $1.00 as required by MarketPlace Rule 4310(c)(4). The Company has requested a hearing before a Nasdaq Listing Qualifications Panel to review the Staff's determination. There can be no assurance that the Panel will grant the Company's request for continued listing. Failure to maintain listing on the Nasdaq SmallCap Market will result in the Company's shares being quoted on the NASD's OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . Statements in this release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning 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. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "anticipates" or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties including the failure by the Company to comply with the Nasdaq 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. and the success of the Company's appeal to the Panel and those risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion