BOS Receives Nasdaq Delisting Notice; Will Continue Trading Pending Appeal Decision.Business Editors TERADYON, Israel--(BUSINESS WIRE)--Jan. 2, 2003 B.O.S. Better On-Line Solutions Ltd. (the "Company") (Nasdaq:BOSC), (TASE TASE Tel Aviv Stock Exchange TASE The All Seeing Eye TASE Tactical Air Support Element TASE Thrust Assessment Support Environment TASE Telecontrol Application Service Elements (IEC communications protocol) :BOS) announced today that it has received a Nasdaq Staff Determination indicating that the Company fails to comply with the $1.00 (US) minimum bid price requirement for continued listing on the Nasdaq National Market set forth in Nasdaq Marketplace Rules 4450(a)(5). Accordingly, the Company's ordinary shares are subject to delisting from the Nasdaq National Market. The Company will be requesting a hearing before the Nasdaq Listing Qualifications Panel to review the Staff Determination. While there can be no assurance that the Panel will grant the Company's request for continued listing, the Company is exploring all possible avenues to preserve the Nasdaq listing. Pending a final ruling, delisting will be stayed and the Company's ordinary shares will continue to be listed on the Nasdaq National Market. About B.O.S. B.O.S.' activities include the continuing business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets described below: BOScom, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , develops, produces and markets value-enhancing communication and networking products for enterprises. The Company's IP Telephony The two-way transmission of voice over a packet-switched IP network, which is part of the TCP/IP protocol suite. The terms "IP telephony" and "voice over IP" (VoIP) are synonymous. division provides innovative, telephony solutions that leverage a corporation's existing equipment infrastructure. The Company's legacy division offers solutions for IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) mid-range-to-PC and LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. connectivity, and printing solutions that are operating system independent. Surf Communication Solutions Surf Communication Solutions develops a suite of hardware and software products that drives a wide variety of applications whose common goal is high-capacity distribution of voice and video. , an affiliated company, develops and supplies software-based access solutions that are integrated into manufacturers' original equipment in the telecommunications, data communications, telephony, and consumer electronics industries. The forward-looking statements contained herein reflect management's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS, including, but not limited to, those risks and uncertainties detailed in BOS' periodic reports and registration statements filed with the U.S. Securities Exchange Commission. |
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