Clariti to Appeal Delisting from The Nasdaq SmallCap Market.Business Editors FORT WASHINGTON Fort Washington, military post during the American Revolution, situated on the highest point of Manhattan island, New York City, overlooking the Hudson River opposite Fort Lee, N.J. , Pa.--(BUSINESS WIRE)--July 10, 2001 Clariti Telecommunications International, Ltd. (Nasdaq:CLRI CLRI Central Leather Research Institute (India) ) announced today that it received a Nasdaq Staff Determination on July 5, 2001 indicating that the Company fails to comply with the common stock 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. requirement for continued listing set forth in Marketplace Rule 4310(c)(2)(B)(ii), and that its securities are, therefore, subject to delisting Delisting When the stock of a company is removed from a stock exchange. Notes: Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. from The Nasdaq SmallCap Market. The Company has requested a hearing before the Nasdaq Listing Qualifications Panel to review the Staff Determination. There can be no assurance the Panel will grant the Company's request for continued listing. Web: www.clariti.com |
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