Compositech Appeals Nasdaq Smallcap Market Notice of Delisting.Business Editors/Technology Writers RONKONKOMA, N.Y.--(BUSINESS WIRE)--Sept. 19, 2000 Compositech Ltd. (Nasdaq:CTEK), a developer of high tech laminates for the printed circuit board industry, reported today that it had filed a request for a hearing in connection with the Nasdaq staff's decision to delist delist To drop a security from trading on an organized exchange. Delisting may occur for a number of reasons including failure to meet an exchange's standards or placement of a new listing on another exchange. Compare list. the Company's securities from the Nasdaq SmallCap Market for not maintaining the $1.00 minimum bid requirement. Compositech also does not currently meet 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". or 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. requirements for continued listing on the Nasdaq SmallCap Market. Compositech's hearing request will suspend the 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. process pending the outcome of the hearing, which will take place on October 19, 2000. "The Board of Directors has authorized presenting a reverse split for stockholder approval, with the ratio to be determined at the time of presentation," said Compositech Chief Financial Officer Samuel S Samuel, two books of the Bible, originally a single work, called First and Second Samuel in modern Bibles, and First and Second Kingdoms in the Septuagint. They are considered part of "Deuteronomistic history," in which the book of Deuteronomy functions as the . Gross. "In addition, we are currently evaluating various alternatives to present to the Nasdaq Listings Qualifications Panel at the hearing, including the status of our corporate merger and acquisition and licensing discussions. Although there are no firm deals right now, we hope to finalize matters in time to present them at the Qualifications Panel hearing. Hopefully, this course of action will result in an increase of Compositech's common stock above the required $1.00 minimum bid price and bring us into conformity with the other requirements," Gross added. Compositech Ltd. has developed innovative and superior copper-clad and fiberglass epoxy epoxy Any of a class of thermosetting polymers, polyethers built up from monomers with an ether group that takes the form of a three-membered epoxide ring. The familiar two-part epoxy adhesives consist of a resin with epoxide rings at the ends of its molecules and a curing laminates used to make printed circuit boards, which are essential components of personal computers, workstations, data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. , Internet servers and telecommunications equipment. Compositech is currently engaged in locating suitable licensees, joint venture partners or purchasers for its patented technology and equipment design. Compositech(TM) and CL200+(TM) are trademarks of Compositech Ltd. The statements made in this press release contain certain 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. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations. In addition to the matters described in this press release, risk factors listed from time to time in the Company's SEC reports and filings, including, but not limited to, its report on Form 10-QSB for the quarter ended June 30, 2000 and its report on Form 10-KSB for the year ended December 31, 1999, may affect the results achieved by the Company. |
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