DSL.net, Inc. Gains Approval to Transfer to Nasdaq SmallCap Market.Business Editors NEW HAVEN New Haven, city (1990 pop. 130,474), New Haven co., S Conn., a port of entry where the Quinnipiac and other small rivers enter Long Island Sound; inc. 1784. Firearms and ammunition, clocks and watches, tools, rubber and paper products, and textiles are among the many , Conn.--(BUSINESS WIRE)--July 22, 2002 DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary .net, Inc. (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 : DSLN), a leading, nationwide, direct provider of high-speed Internet See broadband. access solutions for small- and medium-sized businesses, today announced that The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. has approved the Company's request to transfer its common stock to The Nasdaq SmallCap Market. The Company's securities will commence trading on The Nasdaq SmallCap Market effective today, July 22, 2002, and will continue to trade under the symbol: DSLN. David F. Struwas, chairman and chief executive officer of DSL.net, Inc., said, "We are pleased to confirm that we are able to retain our Nasdaq listing. This move to the NASDAQ SmallCap Market allows DSL.net to maintain a strong liquid trading profile on a well-regulated market and to continue to provide our investors access to all of the benefits of The Nasdaq Stock Market. Our stockholders will continue to have the ability to sell or purchase shares on the open market." Added Struwas, " I am confident that we are well positioned to meet the expanding needs of the business customer." About DSL.net Based in New Haven, Connecticut, DSL.net, Inc. combines its own DSL and T1 facilities, nationwide network infrastructure, and Tier I Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ) capabilities to provide high-speed Internet access and value-added services directly to small- and medium-sized businesses throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . A certified CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) in all 50 states, plus Washington D.C. and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. , DSL.net sells exclusively to businesses, primarily through its own direct sales channel. DSL.net augments its direct sales strategy through select system integrators, application service providers, and marketing partners. In addition to a number of high-performance, high-speed Internet connectivity solutions specifically designed for business, DSL.net product offerings include Web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. , DNS (Domain Name System) A system for converting host names and domain names into IP addresses on the Internet or on local networks that use the TCP/IP protocol. For example, when a Web site address is given to the DNS either by typing a URL in a browser or behind the management, enhanced email, on-line data backup and recovery services, firewalls, and nationwide dial-up services. For more information on DSL.net, visit www.dsl.net, e-mail info@dsl.net, or call 1-877-DSL-NET1 (1-877- 375-6381). This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, statements regarding DSL.net's forecasts of operating results. These statements and other forward-looking statements are subject to a variety of risks and uncertainties, many of which are beyond DSL.net's control, which could cause actual results to differ materially from those contemplated in these forward looking statements. In particular, the risks and uncertainties include, among other things, (i) fluctuations in DSL.net's quarterly operating results, which could adversely affect the price of its common stock; (ii) DSL.net's unproven business model, which may not be successful; (iii) DSL.net's ability to execute its business plan in a timely manner to generate the forecasted financial and operating results; (iv) risks associated with acquisitions, including difficulties in identifying and completing acquisitions, integrating acquired businesses or assets and realizing the revenue, earnings or synergies anticipated from any acquisitions; (v) competition; (vi) risks associated with the possible removal of DSL.net's common stock from the NASDAQ SmallCap market, which removal could adversely impact the pricing and trading of DSL.net's common stock (vii) the challenges relating to the timely installation of service for customers, including DSL.net's dependence on traditional telephone companies to provide acceptable telephone lines in a timely manner; (viii) DSL.net's dependence on wholesale DSL providers to provide it with local DSL facilities in areas where it has not deployed its own DSL equipment; (ix) the difficulty of predicting the new and rapidly evolving high-speed data communications industry; (x) regulatory, legislative, and judicial developments, which could adversely affect the way DSL.net operates its business; and (xi) DSL.net's ability to recruit and retain qualified personnel and manage the growth of its operations. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. DSL.net undertakes no obligation, and disclaims any obligation, to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional information regarding these and other risks faced by DSL.net, see the disclosure contained under "Risk Factors" in DSL.net's Annual Report on 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. for the year ended December 31, 2001, which has been filed with the Securities and Exchange Commission. DSL.net is a trademark of DSL.net, Inc. |
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