Brek Energy Applies to List on SmallCap Market; Brek responds to Nasdaq Staff Determination.Business Editors LONDON--(BUSINESS WIRE)--Nov. 6, 2002 On October October: see month. 31, 2002, Brek (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 :BREK)(BERLIN:BREK) received a Nasdaq Staff Determination that Brek's common stock during the 90-day period ending on October 30, 2002, had not maintained a closing bid price of $1.00 per share for the ten consecutive trading days In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. necessary to qualify for continued listing on the National Market System, and that its common stock was therefore subject to de-listing from the Nasdaq National Market on November November: see month. 8, 2002, for failure to comply with Marketplace Rule 4450. Brek has applied to list its common stock on the Nasdaq SmallCap Market, where it would be eligible for re-listing on the National Market System if it maintains a closing bid price of $1.00 for 30 consecutive trading days before January 28, 2003. While there can be no assurance that its application to move to the SmallCap market will be approved, Brek believes that it satisfies Nasdaq's criteria for the move and that the transition to that market will occur without adversely affecting the trading in its stock. About Brek Energy Corporation Brek Energy Corporation owns significant interests in emerging non-conventional energy companies with oil and gas assets in Texas and the Rocky Mountains Rocky Mountains, major mountain system of W North America and easternmost belt of the North American cordillera, extending more than 3,000 mi (4,800 km) from central N.Mex. to NW Alaska; Mt. Elbert (14,431 ft/4,399 m) in Colorado is the highest peak. . Certain statements contained herein are "forward-looking" statements (as the term is defined in 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). Because these statements include significant risks and uncertainties, actual results may differ materially from those expressed or implied by the forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . For a discussion of some of these risks and uncertainties, please refer to the company's SEC filings, which contain additional discussion about those risk factors, which could cause actual results to differ from management's expectations. Brek Energy expressly disclaims any obligation to update the statements contained herein. |
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