Datatec Systems Receives NASDAQ Minimum Bid Price Deficiency Notice; Hearing Scheduled for September 19.Business Editors FAIRFIELD, N.J.--(BUSINESS WIRE)--Sept. 12, 2002 Datatec Systems, 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 : DATCE), a leading provider of technology deployment services and software tools, today announced that the Company received a NASDAQ Staff Determination on September 6, 2002 indicating that the Company does not comply with the minimum bid price requirement for continued listing set forth in Marketplace Rules 4450(a)(5) and 4450(e)(2), which require the Company's common stock to close at $1.00 or more for a minimum of ten (10) consecutive trading days In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. , and that its securities are therefore 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. As of the market close today, September 12, 2002, the Company's common stock has closed at or above $1.00 per share for the past eight (8) consecutive days. The Company had previously requested and been granted a hearing before a NASDAQ Listing Qualifications Panel to review the Staff Determination related to the fact that it had not timely filed its 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 period ended April 30, 2002. This hearing is scheduled to take place on September 19, 2002. The deficiency related to the minimum bid price will also be addressed at the September 19 hearing. There can be no assurance the Panel will grant the Company's request for continued listing. Datatec will continue to fully inform the investing public with updated information as it becomes available. About Datatec Systems, Inc. Fairfield, NJ-based Datatec Systems specializes in the rapid, large-scale market absorption of networking technologies. Datatec's deployment services utilize a software-enabled implementation model to configure See configuration. (software) configure - A program by Richard Stallman to discover properties of the current platform and to set up make to compile and install gcc. Cygnus configure was a similar system developed by K. , integrate and roll out new technology solutions using a "best practices" structured process. Its customers include Fortune 1000 companies and world-class technology providers. Datatec stock is listed on 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. (DATC DATC Davis Applied Technology College (Kaysville, Utah) DATC Days After Test Completion DATC Deferred Adverse Tax Consequence DATC Direct Assistance & Training Command DATC Director of Air Traffic Control ). For more information, visit http://www.datatec.com/ |
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