Concero Common Stock to Move To Over-the-Counter Bulletin Board; Will Trade Temporarily on Nasdaq SmallCap Market.Business Editors & High-Tech Writers AUSTIN, Texas--(BUSINESS WIRE)--July 31, 2002 Concero Inc. (Nasdaq:CERO), a provider of interactive television solutions, today announced that it has been notified by Nasdaq that as a failure to meet the minimum bid price and market value of public float, its common stock will begin trading temporarily on the Nasdaq SmallCap Market, effective as of the opening of business on Aug. 1, 2002. Concero has determined not to file a formal application for listing on the Nasdaq SmallCap Market. Consequently, Concero anticipates that its common stock will be delisted from the Nasdaq SmallCap Market as of the end of business on Aug. 6, 2002. After 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, Concero anticipates that its common stock will trade 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. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). ), effective as of the opening of business on Aug. 7, 2002. The OTCBB is a regulated quotation service that displays real-time quotes, last-sale prices and volume information in over-the-counter equity securities. OTCBB securities are traded by a community of market makers that enter quotes and report trades. Concero's ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors (CERO) will remain the same and can be viewed at www.otcbb.com. About Concero Concero Inc. is a provider of interactive television solutions. Concero provides systems integration consulting services that enable cable operators, content providers and application providers to deliver compelling entertainment-on-demand services and other VOD-enabled applications and intends to provide related software products. Our solutions create engaging and entertaining user experiences and drive profitable, on-demand interactive services. Concero possesses unique delivery capabilities for supporting interactive television solutions. In conjunction with Motorola's Horizon and Scientific-Atlanta's CreativEdge developer programs, Concero operates state-of-the-art integration facilities with head-ends, set-top boxes, VOD See video-on-demand. VoD - video on demand servers, operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. and middleware from Motorola, Scientific-Atlanta, SeaChange, Concurrent and other major technology providers. These assets combined with our dedicated and experienced team of interactive television consultants and software engineers offer customers substantial cost savings and rapid time-to-market benefits. Forward-Looking Statements Disclosure "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under 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: This press release contains forward-looking statements that involve risks and uncertainties, including Concero's ability to continue to market and sell its services, to address the interactive television market and other emerging markets, and to have its common stock quoted on the Over-the-Counter Bulletin Board. Forward-looking statements are based on current information and assumptions that by their nature are dynamic and subject to change. Forward-looking statements regarding quotation of Concero's common stock on the Over-the-Counter Bulletin Board are subject to, among other things, (i) Concero remaining current on its periodic filings with the U.S. Securities and Exchange Commission, and (ii) Concero's common stock being sponsored by a participating market maker that registers the common stock for quotation on the Over-the-Counter Bulletin Board. For further discussion of these and other factors, please refer to our recent filings with the SEC, particularly the Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed March 29, 2002, and the Form 10-Q Form 10-Q See 10-Q. filed May 14, 2002. |
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