BioTime Announces Delisting From AMEX; Common Stock and Warrants to Be Quoted on OTC Bulletin Board.EMERYVILLE, Calif. -- As previously reported, during April 2005 BioTime, Inc. (AMEX AMEX See: American Stock Exchange :BTX (Balanced Technology EXtended) A motherboard design from Intel introduced in 2004 that supersedes the ATX. Unlike the ATX, the placement of all chip sockets in the BTX is defined in order to provide sufficient air flow over the processor and display adapter. ) received a notice from the staff of 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. indicating that BioTime did not meet certain of the Exchange's continued listing standards as set forth in Section 1003(a)(iii) of the AMEX Company Guide in that the Company has shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. of less than $6,000,000 and has incurred losses during the last five fiscal years. Accordingly, the staff of the Exchange determined to proceed with the filing of an application to the Securities and Exchange Commission under Securities Exchange Act Rule 12d-2 to delist BioTime common shares and warrants from the Exchange. BioTime appealed this determination to the Exchange's Committee on Securities. However, the Committee on Securities has determined to uphold the Exchange's staff determination and to proceed with the delisting of BioTime common shares and warrants. BioTime shares and warrants will not be listed or traded on the AMEX after July 14, 2005, but will be eligible for quotation on 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. maintained by the National Association of Securities Dealers National Association of Securities Dealers (NASD) Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. , Inc. BioTime will announce the new trading symbols for its common shares and warrants as soon as practicable. About BioTime, Inc. BioTime, headquartered in Emeryville, California, develops blood plasma volume expanders, blood replacement solutions for hypothermic (low temperature) surgery, organ preservation solutions and technology for use in surgery, emergency trauma treatment and other applications. BioTime's lead product Hextend(R) is manufactured and distributed in the U.S. and Canada by Hospira, Inc. and in the Republic of Korea by CJ Corp. under exclusive licensing agreements. Information about BioTime can be found on the web at www.biotimeinc.com. |
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