Applied Microsystems Receives Nasdaq Delisting Notice.Business Editors, High-Tech Writers REDMOND, Wash.--(BUSINESS WIRE)--Dec. 30, 2002 Applied Microsystems Corporation (Nasdaq:APMC APMC Application (Server) for Mail and Calendaring APMC Asia-Pacific Microwave Conference APMC Advanced Program Management Course APMC Amicale Philatélique et Marcophile Colmarienne APMC Afloat Personnel Management Center ) today reported that it received a Nasdaq Staff Determination on December 23, 2002, indicating that the Company fails to comply with the minimum 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, minimum bid price, and market value of public float requirements for continued listing set forth in Nasdaq Marketplace Rules. Applied does not intend to appeal the delisting notice, therefore, the Company's securities are expected to be delisted from the Nasdaq SmallCap Market at the opening of business on January 3, 2003. On December 16, 2002, the Company announced that its board of directors had unanimously decided to recommend to shareholders that the Company be liquidated DAMAGES, LIQUIDATED, contracts. When the parties to a contract stipulate for the payment of a certain sum, as a satisfaction fixed and agreed upon by them, for the not doing of certain things particularly mentioned in the agreement, the sum so fixed upon is called liquidated damages. (q.v. . Applied plans to prepare a proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. as soon as practicable that will provide additional information and will submit a plan of liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy and dissolution to its shareholders for approval. The company can be reached at P.O. Box 97002, Redmond, Wash. 98073-9702; by phone at 425/883-1606; or by e-mail at info@amc.com. Visit Applied on the Web at www.amc.com. Forward-looking statements in this press release are made pursuant to 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 various risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated or stated or implied by such forward-looking statements. These factors include, without limitation, the Company's assessment -- based on information received from Nasdaq -- that its securities will be delisted as noted in the release, the Company's ability to implement the plan of liquidation and dissolution in a timely manner and obtain shareholder approval for such liquidation, and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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