DSL.net Granted Additional Time to Comply with Nasdaq SmallCap Market's Minimum Bid Price Rule.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)--Jan. 13, 2004 Nasdaq extension now runs through April 19, 2004 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: DSLN), a leading nationwide provider of broadband communications services to businesses, today announced that it has been advised by the Nasdaq that the Company has received an additional extension of the grace period for regaining compliance with the Nasdaq SmallCap Market's minimum bid price rule, which is required for continued listing on the Nasdaq. The extension, which was granted by the Nasdaq after recent action by the Securities and Exchange Commission that approved certain modifications to Nasdaq's bid price requirements, now runs through not later than April 19, 2004. Nasdaq indicated in a written notification that DSL.net has until that time to comply with the $1.00 closing bid price per-share requirement as set forth under the Nasdaq's newly amended Marketplace Rule 4310(c)(8)(D). According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Nasdaq, the Company has until April 19, 2004, to trade at or above $1.00 per share for a minimum of 10 consecutive trading days or, if the bid price deficiency is not remedied by that date, to take steps to take action; to move in a matter. See also: Step for implementation of a reverse stock split in order to continue its SmallCap Market listing. This latest extension supercedes a previous Nasdaq notification that had given the Company until January 30, 2004, to demonstrate compliance with the $1.00 closing bid price per-share requirement. About DSL.net DSL.net, Inc. is a leading nationwide provider of broadband communications services to businesses. The Company combines its own facilities, nationwide network infrastructure and 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 See broadband. access, private network solutions and value-added services directly to small- and medium-sized businesses or larger enterprises looking to connect multiple locations. DSL.net product offerings include T-1 and business-class DSL services, virtual private networks (VPNs), frame relay A high-speed packet switching protocol used in wide area networks (WANs). Providing a granular service of up to DS3 speed (45 Mbps), it has become popular for LAN to LAN connections across remote distances, and services are offered by most major carriers. , Web hosting, 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 e-mail, online data backup and recovery services, firewalls and nationwide dial-up services, as well as integrated voice and data offerings in select markets. For more information, 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 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, the potential modification, reversal or dismissal by the Nasdaq Listing and Hearing Review Council of the Nasdaq Listing Qualifications Panel's decision to grant DSL.net the extension described herein. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only 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, 2002, which has been filed with the Securities and Exchange Commission. DSL.net is a trademark of DSL.net, Inc. Other company names may be trademarks of their respective owners. |
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