AquaCell Informs Amex It Will Delist Shares; Stock to Trade on OTC Bulletin Board.RANCHO CUCAMONGA Rancho Cucamonga (răn`chō k  'kəmäng`gə), city (1990 pop. 101,409), San Bernardino co., S Calif. , Calif. -- AquaCell Technologies (Amex:AQA AQA Assessment and Qualifications Alliance (UK)AQA Assessment and Qualifications Alliance AQA Any Question Answered AQA American Quality Assessors (India Pvt Ltd) ) announced today that it has informed 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. that its board of directors has decided to not pursue a hearing regarding the listing of the company's stock on the American Stock Exchange and has instead, chosen to delist from the Amex. The company expects the stock to be trading on the Over-the-Counter Bulletin Board beginning Tuesday, Dec. 27, 2005, and the company will announce the new trading symbol Trading symbol See: Ticker symbol once it has been assigned. Quotes will be able to be obtained at www.otcbb.com. The company's stock will be suspended from trading on the Amex at the end of the trading day In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. on Friday, Dec. 23. James C. Witham, chairman of the board and chief executive officer, said: "Following careful analysis, we believe it is in the best interest of the company and its stockholders that we delist from the Amex. Having the stock trade on the Over-the-Counter Bulletin Board will have no effect on the operations of the company, nor do we expect it will impact the spin-off of our Aquacell Water subsidiary." Witham continued, "AquaCell will remain a fully reporting company and will continue to adhere to the Corporate Governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. practices previously established." The company evaluated several factors in analyzing the pros and cons pros and cons Noun, pl the advantages and disadvantages of a situation [Latin pro for + con(tra) against] of maintaining listing on the American Stock Exchange. A major consideration was the comparison of the specialist system to the electronic model utilized by the Nasdaq and the Over-the-Counter Bulletin Board. The company concluded that having multiple market-makers trading the stock instead of a single specialist creates a more efficient trading environment. The cost savings to the company will be in excess of $80,000 per year. About AquaCell AquaCell Technologies Inc. is based in Rancho Cucamonga. Its AquaCell Media Inc. subsidiary installs its patented self-filling Aquacell 1000 Bottled Water Cooler Systems free of charge into various locations, including retail establishments. AquaCell Media retains ownership of the coolers, and revenue is generated through "Coolertising" - the sale of targeted advertising on the band of the cooler's permanently attached five-gallon bottle, for the promotion of products and/or services pertinent to the demographics and location, similar to the concept of billboard advertising. The company also manufactures products for water filtration and purification through its Aquacell Water Inc. subsidiary. Its products address various water treatment applications for municipal, industrial, commercial, and institutional applications. These applications range from providing purified drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. to processing water for industrial and commercial manufacturing. 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. . Statement Under 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. Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, but are not limited to, statements about: our ability to continue relationships with customers; our ability to offer our products at competitive prices; our ability to maintain our listing on the American Stock Exchange; and our ability to use the most current technology for our products. |
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