CoreComm Limited Announces Additional Notice of Listing Deficiency.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 24, 2001 CoreComm Limited (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 : COMM) (the "Company") today announced that on August 21, 2001, it received a Nasdaq Staff Determination indicating that the Company failed to comply with the minimum stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. requirement for continued listing (as described in SEC release no. 34-44499; File no. SR-NASD-2001-14), and is 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 National Market. This notice is in addition to the Nasdaq Staff Determination the Company received on July July: see month. 23, 2001 indicating that the Company failed to comply with the minimum bid price requirement for continued listing. The Company has addressed these listing deficiencies in the submittal to the Nasdaq Listing Qualifications Panel that will review the Nasdaq Staff Determinations at a future hearing. Pending such hearing, the Company's common stock will continue to trade on the Nasdaq National Market. There can be no assurance that the Company will prevail at the hearing, and that its common stock will not be delisted from the Nasdaq National Market. |
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