Electric City Corp. SEC/NASDAQ Status Update.ELK GROVE VILLAGE Elk Grove Village, village (1990 pop. 33,429), Cook and Du Page counties, NE Ill., a suburb of Chicago; inc. 1956. With a population of c.100 at the time of its establishment on open farmland, the village has grown dramatically and steadily, largely because of its , Ill.--(BUSINESS WIRE)--Nov. 3, 1999-- Electric City Corp. announces today that it is waiting for the Securities and Exchange's final comments relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's registration which it filed in order to continue to have its stock traded on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . While the Company has been in communication with the SEC, it does not expect the registration to be completed prior to November 3, 1999, which is the completion date established by NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). for the group of OTC Bulletin Board companies of which the Company is a part. As a result, beginning on November 4, 1999, the Company's stock temporarily will be traded over the counter in the "Pink Sheets." The Company has been informed that market makers who presently trade the Company's stock on the OTC Bulletin Board will still trade the Company's stock while in the "Pink Sheets." The Company is working to have the registration process completed as soon as possible so that the Company's stock will once again be traded on the OTC Bulletin Board. The Company believes that while the Company's stock is Pink Sheet listed the Company's stockholders will still be able to trade in the Company's stock in the same manner as on the OTC Bulletin Board. If you want to trade in the Company's stock, please contact your broker who will be able to obtain bid and ask quotes and assist you in your trade. For further information please contact Stephanie Cox or Slade R. Chelbian at the Company at (847) 437-1666. The Company presently meets the requirements for listing on the 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 SmallCap Market and intends to submit application to NASDAQ for such listing as soon as possible after completion of registration with the SEC. Joseph C. Marino, President of the Company, has said "I believe that the Pink Sheet trading of the Company's stock is temporary and the Company is working diligently dil·i·gent adj. Marked by persevering, painstaking effort. See Synonyms at busy. [Middle English, from Old French, from Latin d to complete its registration with the SEC and is waiting for the SEC's final comments. The Company is committed to pursuing NASDAQ listing as soon as possible so as to provide stockholders with the advantage that such listing can provide." Except for the historical information contained herein, this press release contains 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. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of Securities Act of 1934, as amended, and are subject to the safe harbors Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created thereby. The Company's future actual results could differ materially from the forward-looking statements discussed herein. |
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