Continucare Announces That the American Stock Exchange has Completed Its Listing Qualifications Review.Business Editors/Health & Medical Writers MIAMI--(BUSINESS WIRE)--Aug. 6, 2002 Continucare Corporation (AMEX AMEX See: American Stock Exchange :CNU CNU Christopher Newport University CNU Chungnam National University (Korea) CNU Congress for the New Urbanism CNU Chonnam National University (Korea) CNU Consiglio Nazionale degli Utenti ), a leader in the fields of third party management of medical risk and home healthcare services in the Florida market, today announced that 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. has completed its review of the Company's listing qualifications. As previously reported, the Company has fallen below AMEX continued listing standards relating to 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. and losses from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the . In response to this notification, the Company submitted a plan of compliance to the AMEX. On July 30, 2002, the AMEX accepted the Company's plan to bring it in compliance by December 31, 2003, and granted this extension to the Company. The plan includes quarterly milestones. If the Company does not show progress in obtaining these milestones or if the Company is unable to regain compliance with the continued listing standards by December 31, 2003, the Company's Common Stock may be delisted from the AMEX. Continucare Corporation, headquartered in Miami, Florida, is a holding company with subsidiaries engaged in the business of third party management of medical risk by providing outpatient healthcare services through managed care arrangements and home healthcare services. Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the 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. provisions of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect the company's business and prospects, and cause results to differ materially from those set forth in the forward-looking statements. In addition to the factors set forth elsewhere in this release, the economic, competitive, governmental, technological and other factors identified in Continucare's filings with the Securities and Exchange Commission could affect the forward-looking statements contained in this release. |
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