Bio-Plexus Announces NASDAQ Delisting.Business Editors VERNON, Conn.--(BUSINESS WIRE)--Feb. 27, 2001 Bio-Plexus, Inc. (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 : BPLX), a leader in the design, manufacture and marketing of safety medical needles and other products, today announced it had received a Nasdaq Staff Determination Letter dated February 26, 2001, indicating that the Company failed to comply with the Net Tangible Assets Net Tangible Assets Calculated as the total assets of a company, minus any intangible assets such as goodwill, patents and trademarks, less all liabilities and the par value of preferred stock. Also known as "net asset value" or "book value". , Market Capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. and Net Income requirements for continued listing set forth in Marketplace Rules 4310(c)(2)(B), and that its securities would, therefore, be delisted from the Nasdaq SmallCap Market at the opening of business on March 6, 2001. Bio-Plexus anticipates that its securities will immediately be eligible to be quoted on the NASD-regulated 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. . John S. Metz, President and Chief Executive Officer of Bio-Plexus, commented, "While we are disappointed that we no longer satisfy the technical requirements for continued listing of our shares on the Nasdaq SmallCap Market, we will continue to focus on supplying healthcare workers with newer and safer medical devices that can help them reduce the risk of needlesticks and the chance of contracting deadly bloodborne diseases such as HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. and hepatitis C Hepatitis C Definition Hepatitis C is a form of liver inflammation that causes primarily a long-lasting (chronic) disease. Acute (newly developed) hepatitis C is rarely observed as the early disease is generally quite mild. . We remain focused on bringing our PUNCTUR-GUARD(R) technology to the marketplace." Bio-Plexus, Inc. (NASDAQ: BPLX), designs, develops, manufactures and holds U.S. and international patents on safety medical needles and other products under the PUNCTUR-GUARD(R), DROP-IT(R), and PUNCTUR-GUARD REVOLUTION(TM) brand names. For independent evaluations of the PUNCTUR-GUARD(R) blood collection needle, refer to the Centers for Disease Control (MMWR MMWR Morbidity & Mortality Weekly Report Epidemiology A news bulletin published by the CDC, which provides epidemiologic data–eg, statistics on the incidence of AIDS, rabies, rubella, STDs and other communicable diseases, causes of mortality–eg, , January 1997) and ECRI ECRI European Commission against Racism and Intolerance ECRI Emergency Care Research Institute ECRI Economic Cycle Research Institute (Health Devices, June 1998 and October 1999) studies. Accidental needlesticks number about one million per year in the United States and can result in the transmission of deadly diseases including HIV and Hepatitis B and C. NOTE: This press release may contain forward-looking statements within the meaning 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. Forward-looking statements may be identified by the use of such terminology as "believes," "expects," "may," "will," "should," "anticipates," "plans," "estimates," and "intends" or derivations or negatives thereof or comparable terminology, or discussions of strategy that involves risks (known and unknown) and uncertainties. The company's actual results may differ materially from those projected in the forward-looking statements as a result of, among other factors, general economic conditions and growth in the safety medical products industry, competitive factors and pricing pressures, changes in product mix, product demand, risk of dependence on third party suppliers and financiers, ability to obtain financing, as well as other factors described from time to time in the company's periodic reports filed with the securities and exchange commission or discussed in other press releases issued by the company. The company undertakes no obligation to update or advise upon any such forward-looking statement. |
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