EasyLink Applies to Transfer to the NASDAQ Capital Market.PISCATAWAY Pis·cat·a·way A community of north-central New Jersey north of New Brunswick. Founded before 1693, it is a manufacturing center. Population: 42,223. , N.J. -- EasyLink Services Corporation (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 : EASY), a leading global provider of outsourced business process automation services that transform manual and paper-based business processes into efficient electronic ones, announced today that it has submitted an application to transfer the listing of its common stock from the NASDAQ National Market to the NASDAQ Capital Market Originally called the NASDAQ Small Cap Market, NASDAQ announced a name change to the NASDAQ Capital Market on September 27, 2005. [1] The NASDAQ Capital Market exists for securities of smaller, less-capitalized companies (small caps) that do not qualify for . Following approval of EasyLink's transfer application, EasyLink will continue to trade under the symbol "EASY." EasyLink expects a decision on its application within the next two weeks. EasyLink believes that it currently meets the requirements for initial and continued listing on the NASDAQ Capital Market, with the exception of the $1.00 minimum closing bid price requirement. As a result of transferring to the NASDAQ Capital Market, EasyLink would have an additional 180 day grace period through August 19, 2006 to comply with the $1.00 minimum closing bid price requirement on the Nasdaq Capital Market. The Company may regain compliance with the minimum bid price rule if, at any time before August 19, 2006, the bid price of its common stock closes at $1.00 per share or more for a minimum of ten 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. . The NASDAQ staff may, in its discretion, require the Company to maintain a bid price of at least $1.00 per share for a period in excess of ten consecutive business days (but generally no more than 20 consecutive business days) before determining that the Company has demonstrated the ability to maintain long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. compliance. About EasyLink Services Corporation EasyLink Services Corporation (NASDAQ: EASY), headquartered in Piscataway, New Jersey, is a leading global provider of outsourced business process automation services that enable medium and large enterprises, including 60 of the Fortune 100, to improve productivity and competitiveness by transforming manual and paper-based business processes into efficient electronic business processes. EasyLink is integral to the movement of information, money, materials, products, and people in the global economy, dramatically improving the flow of data and documents for mission-critical business processes such as client communications via invoices, statements and confirmations, insurance claims, purchasing, shipping and payments. Driven by the discipline of Six Sigma Not to be confused with Sigma 6. Six Sigma is a set of practices originally developed by Motorola to systematically improve processes by eliminating defects.[1] A defect is defined as nonconformity of a product or service to its specifications. Quality, EasyLink helps companies become more competitive by providing the most secure, efficient, reliable, and flexible means of conducting business electronically. For more information, please visit www.EasyLink.com. This news release may contain statements of a forward-looking nature relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future events or financial results of EasyLink Services Corporation. Investors are cautioned that such statements are only predictions and actual events or results may differ materially. In evaluating such statements, investors should specifically consider the various factors that could cause actual events or results to differ materially from those indicated from such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . These include: the need to raise additional capital; the ability to service our remaining indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421. 2. ; the ability to continue as a going concern being dependent upon the ability to generate sufficient cash flow to meet our obligations on a timely basis, to obtain additional financing or refinancing Refinancing An extension and/or increase in amount of existing debt. as may be required, and to achieve and maintain profitable operations; significant leverage; the ability to attract additional customers or to expand services sold to existing customers; the ability to successfully implement our business strategy; significant competition; the risks inherent in integrating the EasyLink business; and the risk of being delisted from NASDAQ, including the risk that the Company's application to transfer its listing to the NASDAQ Capital Market may not be approved and, in that event, that the Company may be unable to regain compliance with the $1 minimum bid price requirement by February 21, 2006 or, if the Company's application is approved, that the Company may be unable to regain compliance with the $1 minimum bid price requirement on the Capital Market by the expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of the additional 180 day grace period which is August 19 , 2006 or may be unable to maintain compliance with all of the other continued listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. of the Capital Market. These and other risks and uncertainties are described in more detail in the Company's filings with the Securities and Exchange Commission. |
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