Axesstel Approved for AMEX Listing.Business Editors SAN DIEGO--(BUSINESS WIRE)--May 3, 2004 Axesstel, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AXES), a leader in developing, manufacturing and marketing high-quality, CDMA-based fixed wireless local loop (WLL See wireless local loop and PHS-WLL. ), hybrid terminals and engineering services to operators worldwide, today announced that its common stock listing application has been approved by 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. (the "AMEX AMEX See: American Stock Exchange "). This approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if the Company is not in compliance with such standards. The Company's common stock is expected to commence trading on the AMEX under the trading symbol "AFT" on Tuesday, May 4, 2004. "Graduating from 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. to the American Stock Exchange represents a significant milestone for us," commented Mike Kwon, Chairman of the Board of Axesstel. "We believe this listing will increase our investor base and create additional liquidity for our shareholders. We believe that it will also bring us more attention from the investment community by prompting a greater range of potential investors to follow us." About the AMEX The American Stock Exchange is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds Exchange Traded Funds (ETF) Also known as ETF. A basket of stocks similar to an index mutual fund. However, there are a number of important differences between ETFs and mutual funds. (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the AMEX is the pioneer of the ETF ETF See Exchange Traded Fund. ETF See exchange-traded fund (ETF). , responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the AMEX lists more than 120 ETFs. The AMEX is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit http://www.amex.com. About Axesstel, Inc. Axesstel, Inc., a Nevada Corporation, is powering the next generation of wireless, fixed and hybrid mobile devices based on CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. , CDMA2000, 802.11, and emerging 3G and 4G broadband IP technologies. The Company is pursuing technology and applications that will enable the development and delivery of carrier-class subscriber-based solutions, including fixed terminals, handsets and wireless payphones. To date, Axesstel's Qualcomm-licensed products can be found in more than 15 countries worldwide. The company is headquartered in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. with a research and development center in Seoul, Korea. For more information, visit the company's Web site at www.axesstel.com. "Safe Harbor" 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: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include but are not limited to the risk factors noted in the Company's filings with the Securities & Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products and enhancements by competitors; the competitive nature of the markets for Axesstel's products; Axesstel's ability to gain market acceptance for its products; the Company's ability to attract and retain skilled personnel; and the Company's reliance on third-party suppliers. |
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