Atlantic Technology Ventures, Inc. Intends to Appeal Noncompliance with Nasdaq Listing Requirement.Business Editors/Hi Tech Writers NEW YORK--(BUSINESS WIRE)--June 21, 2001 Atlantic Technology Ventures, Inc. (Nasdaq: ATLC ATLC Arbitrary Transmission Line Calculator ATLC Atomic Trades and Labor Council ATLC Air Transport Label Catalog ATLC Advanced Technology Licensing Company ) announced that today it received a Nasdaq Staff Determination indicating that the Company fails to comply with the one-dollar minimum bid price requirement for continued listing set forth in Marketplace Rule 4310 (c)(4), and that its securities are, therefore, subject to delisting Delisting When the stock of a company is removed from a stock exchange. Notes: Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. from The Nasdaq Small Cap Market. Prior to the June 28, 2001 Nasdaq deadline, the Company plans to request a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination. This hearing request will stay the delisting of the Company's securities pending the Panel's decision. The hearing will be scheduled within 45 days of the date that the request for a hearing is filed. During the hearing, the Company intends to request, based on its particular circumstances, an extension of the time allotted al·lot tr.v. al·lot·ted, al·lot·ting, al·lots 1. To parcel out; distribute or apportion: allotting land to homesteaders; allot blame. 2. to raise its share price. There can be no assurance the Panel will grant the Company's request for continued listing. We expect that if the Panel determines to delist the Company's common stock, the Company's common stock will trade on the OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Bulletin Board's electronic quotation system, and shareholders will still be able to obtain current trading information, including the last trade bid and ask quotations and share volume. About Atlantic Technology Ventures, Inc. Atlantic Technology Ventures, Inc. is a publicly held venture capital company specializing in early-stage, breakthrough technologies and rapidly incubating these through a definitive proof-of-principle. Atlantic currently has investments in Catarex, a device for cataract cataract, in medicine, opacity of the lens of the eye, which impairs vision. In the young, cataracts are generally congenital or hereditary; later they are usually the result of degenerative changes brought on by aging or systemic disease (diabetes). removal; CT-3, a synthetic derivative of marijuana for treating pain and inflammation; and, superconducting su·per·con·duct·ing adj. Having, exhibiting, or capable of superconductivity: "a revolutionary superconducting magnetic propulsion system" Colin Nickerson. electronics for telecommunications. Cautionary statement under 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: This press release contains certain forward-looking statements that relate to future scientific, business and financial performance. These statements are only predictions and are subject to a number of risks and uncertainties that may cause the actual events or results to differ from those discussed or implied in these statements. These risks and uncertainties include competition from other manufacturers of related technologies, the unavailability of any necessary intellectual property rights possessed by third parties, and certain of those risks described in Atlantic's most recent report on Form 10-KSB with the Securities and Exchange Commission. |
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