Printer Friendly
The Free Library
4,467,403 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Andrea Electronics Announces Suspension of Trading on AMEX and Expected Quotation on the OTC Bulletin Board.


MELVILLE, N.Y. -- Andrea Electronics Corporation (AMEX: AND - News) announced today that it has been informed by the staff of the American Stock Exchange ("AMEX"), that, prior to the market opening on December 16, 2004, the AMEX will suspend trading of Andrea's common stock. The AMEX indicated that it will thereafter commence proceedings with the Securities and Exchange Commission to delist Andrea's common stock.

As previously announced, Andrea received notice, on December 1, 2004, from the staff of the AMEX indicating that the staff had determined that the Company no longer complied with AMEX's continued listing standards due to the Company having shareholders' equity below $6.0 million and sustained losses from continuing operations and net losses during the Company's five most recent fiscal years, as set forth in AMEX Company Guide Section 1003(a)(iii).

Subject to the interest of market makers, Andrea's common stock is expected to be quoted on the OTC Bulletin Board. Andrea's common stock will be quoted on the OTC Bulletin Board under the new ticker symbol "ANDR ANDR - Anhydrite (lithological term)." Investors should be aware that trading in Andrea's common stock through market makers and quotation on the OTC Bulletin Board may involve risk, such as trades not being executed as quickly as when the common stock was listed on the AMEX.

About Andrea Electronics

Andrea Electronics Corporation designs, develops and manufactures audio technologies and equipment for enhancing applications that require high performance and high quality voice input. The Company's patented Digital Super Directional Array (DSDA DSDA - Danish Securities Dealers Association
DSDA - Debt Service Deposit Agreement
DSDA - Defence Storage & Distribution Agency (UK Ministry of Defence)
DSDA - Doomed Speed Demos Archive
(R)), patent-pending Directional Finding and Tracking Array (DFTA DFTA - Department for the Aging
DFTA - Dynamic Fault-Tree Analysis
(R)), patented PureAudio(R), and patented EchoStop(TM) far-field microphone technologies enhance a wide range of audio products to eliminate background noise and ensure the optimum performance of voice applications. Visit Andrea Electronics' website at www.AndreaElectronics.com or call 1-800-707-5779.

This press release contains certain forward looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties. The Company wishes to caution readers not to place undue reliance on any such forward looking statements, which reflect management's analysis only as the date made. The Company does not undertake any obligation to publicly revise these forward looking statements to reflect events or circumstances that arise after the date of such statements.
COPYRIGHT 2004 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Dec 15, 2004
Words:383
Previous Article:Scholastic Announces Fiscal 2005 Second Quarter Results; Higher Profits, led by Education Growth and Improved Margins.
Next Article:The Korea Fund, Inc. Authorizes Major Stock Repurchase Offers and Fee Reduction.
Topics:



Related Articles
MRS Technology Commences Trading On the OTC Bulletin Board.
Abacan Announces Status Of Reverse Split Of Common Stock.
'Pink Sheets' Can Be Double-Edged Sword for Firms.
Olympic Cascade Financial Corporation Receives Notice of Delisting from The American Stock Exchange.
Andrea Electronics Receives Notice of Delisting from the American Stock Exchange.
Storage Computer Announces Change in Listing from AMEX.
PUBC's Recently Launched OTCBB Index Sees a Listed Company Graduate to NASDAQ.
The Immune Response Corporation Receives Nasdaq Delisting Notice.
DSL.net Receives Listing Status Update From American Stock Exchange.
Pink Sheets--ready for prime time?(penny stock market)

Terms of use | Copyright © 2008 Farlex, Inc. | Feedback | For webmasters | Submit articles