Avatech Shares Begin Trading on OTC Bulletin Board Under AVSO.OB.Business Editors/High-Tech Writers OWINGS MILLS, Md.--(BUSINESS WIRE)--Dec. 2, 2002 Avatech shares begin trading on 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. under AVSO AVSO Association of Voluntary Service Organisations .OB ticker Avatech Solutions, Inc. today announced its common stock has begun trading on the OTC Bulletin Board (OTCBB OTCBB See OTC Bulletin Board (OTCBB). ) under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors AVSO.OB. "Following the recent completion of our merger with PlanetCAD, Inc. (see releases dated October 15, 2002 and May 2, 2002), we have created a leading provider of design automation and quality assurance solutions to customers in the manufacturing, building design, civil engineering and GIS sectors," said W. James "Jim" Hindman, Chairman of Avatech. "Our position on the OTC Bulletin Board places us in the good company of many successful, growth-oriented companies that simply do not currently meet the listing criteria for 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 , the Amex or the NYSE NYSE See: New York Stock Exchange ." "In our case, we are now off to a fresh start as a larger, more visible publicly held company, with daily stock price quotes published electronically via the Internet, along with public company reporting requirements. As we continue to build the company and our business metrics improve, it is our intent to be NASDAQ listed," said Hindman. About the Over the Counter Bulletin Board (OTCBB) The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices and volume information for approximately 3,700 companies. Companies can move from the OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). to NASDAQ, AMEX or the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. as their fundamentals improve. OTC securities are traded by a community of market makers who enter quotes and trade reports through a sophisticated, closed computer network. There are two trading systems that are separate from the National Market: the Over the Counter Bulletin Board (OTCBB) and the National Quotation Service Bureau (NQS NQS - Batch processing software for Unix systems. ), commonly known as the Pink Sheets. Together, the OTCBB and Pink Sheets make up the OTC market in the United States. The OTCBB and the Pink Sheets are quotation mediums, rather than stock exchanges. More information about the OTCBB is available at http://www.otcbb.com/. About Avatech Solutions Avatech Solutions, Inc. is a leading provider of design automation and quality assurance solutions for the manufacturing, building design, civil engineering and GIS markets. Headquartered in Owings Mills, Maryland Owings Mills is an unincorporated community and a census-designated place in Baltimore County, Maryland, United States. The population was 20,193 at the 2000 census. Owings Mills is home to the northern terminus for the Baltimore Metro Subway and to Owings Mills Mall. , the company specializes in software development, technical support, training and consulting aimed at improving design and documentation efficiencies and the seamless integration of workflow processes. Avatech is one the largest integrators of Autodesk software worldwide and a leading provider of engineering document management solutions. The company is the developer of the award-winning PrescientQA(TM) quality assurance software and cycle time reduction products for the manufacturing supply chain. Avatech serves 20,000 clients worldwide including the industry leaders from Fortune 1000 and Engineering News Record's Top 500 companies. Visit www.avatechsolutions.com for more information. This press release contains forward-looking statements about the expectations, beliefs, plans, intentions and strategies of Avatech Solutions, Inc. There are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. A description of risks and uncertainties attendant to Avatech and its industry, and other factors that could affect Avatech's financial results, are included in the Securities and Exchange Commission filings of PlanetCAD, Inc., which merged with Avatech on November 19, 2002 including, but not limited to, PlanetCAD's annual report on Form 10KSB KSB Kogod School of Business (American University) KSB Kelley School of Business (Indiana University) KSB Kantonsschule Am Brühl St. for the year ended December 31, 2001, its quarterly reports on form 10-Q for the fiscal quarters ended March 31, June 30, and September 30, 2002, and the proxy statement/prospectus relating to the merger of Avatech and PlanetCAD. Investors and shareholders may obtain a free copy of these documents at the SEC's web site at www.sec.gov, or by contacting Gary Rever at Tel: 410/902-6900 or email investors@avat.com. |
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