Aviation General, Incorporated Commences Trading On OTC Bulletin Board.Business Editors BETHANY, Okla.--(BUSINESS WIRE)--Sept. 24, 2002 Aviation General, Incorporated (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AVGE AVGE Advanced Video Guidance Sensor ) today announced that its stock began trading today on the Over-the-Counter Bulletin Board with the new 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 AVGE.OB, after receiving notification from Nasdaq that the company did not meet certain listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. and that its stock would no longer be listed on the Nasdaq SmallCap market. The company will not appeal this determination further, as it has been dealing with this issue for more than a year and is pleased to have this matter resolved. The company believes that, based on its size and the increasingly burdensome Nasdaq listing requirements, the 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. is a more appropriate market for its stock. The OTC Bulletin Board includes over 300 participating market makers and provides access to more than 3,500 securities, a number of which qualify for Nasdaq listing, but prefer the Bulletin Board. The company's listing on the OTC Bulletin Board affords our shareholders and prospective investors similar advantages as to liquidity and availability of trading information, such as continued listing on major Internet databases. The company also plans to apply for listing on the new BBX BBX Business Basic Extended BBX Business Barter Exchange BBX Blue Bell, Pennsylvania (Airport Code) BBX Blockbuster Express (UK video store) exchange. The company believes that the exchange on which its shares are traded does not affect the market value or intrinsic value Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. of the company's business. The company expects its financial results for year 2002 to be significantly improved compared to 2001. Aviation General, Incorporated is a publicly traded holding company with two wholly owned subsidiaries, Commander Aircraft Company and Strategic Jet Services, Inc. Commander Aircraft Company (www.commanderair.com) manufactures, markets and provides support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services for its line of single engine, high performance Commander aircraft, and consulting, sales, brokerage acquisition, and refurbishment services for all types of piston aircraft. Strategic Jet Services, Inc. (www.strategicjet.com) provides consulting, sales, brokerage, acquisition, and refurbishment services for jet aircraft. The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are encouraged to refer to the risk disclosures described in the Company's reports on Forms 10-K, 10-Q and 8-K, as applicable. www.aviationgeneral.com |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion