First Virtual Communications Announces Nasdaq Notification That Company Is In Compliance With Listing Requirements.Business Editors REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif.--(BUSINESS WIRE)--Dec. 4, 2003 First Virtual Communications, Inc. (Nasdaq: FVCX), a premier provider of rich media web conferencing A videoconferencing session via the Internet. In order to interact with other participants, attendees use either a Web application or an application downloaded into their client machines. and collaboration solutions, today announced that on December 2, 2003, the Company received notification from Nasdaq that it meets the current requirements for continued listing on the Nasdaq SmallCap Market. In accordance with the decision of the Nasdaq Qualifications Hearing Panel, the Company was required to make a public filing with the Securities and Exchange Commission, evidencing shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. of at least $11,000,000 by November 28, 2003. Accordingly, on November 26, 2003, the Company filed a Report on Form 8-k Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. furnishing a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma consolidated balance sheet consolidated balance sheet A balance sheet in which assets and liabilities of a parent company and its controlled subsidiaries are combined, thereby presenting balance sheet items for the parent and its subsidiaries as if they were a single firm. as of September 30, 2003 demonstrating shareholders' equity of $11,261,000. About First Virtual Communications First Virtual Communications is a premier provider of rich media web conferencing and communications solutions. The Company's award-winning Click to Meet(TM) product line is enterprise-class software that enables corporate, education, healthcare and government customers worldwide to present, share, sell, train and collaborate. Click to Meet integrates the user's choice of data, audio and multipoint interactive video into existing work environments and into everyday communication tools such as instant messaging Exchanging text messages in real time between two or more people logged into a particular instant messaging (IM) service. Instant messaging is more interactive than e-mail because messages are sent immediately, whereas e-mail messages can be queued up in a mail server for seconds or , web browsing and e-mail. Click to Meet software solutions are widely deployed in over 1,500 customer locations and excel in challenging environments such as military intelligence, emergency response, disaster recovery, corporate training and geographically dispersed tele-working locations, among others. Headquartered in Redwood City, California Redwood City is a suburb located on the San Francisco Peninsula in the San Francisco Bay Area of California. Redwood City is the county seat of San Mateo County. As of the 2005 census, the city had a total population of 76,000. , First Virtual Communications has operations in France, United Kingdom, Japan and China. More information about First Virtual Communications can be found at www.fvc.com or by calling 1-800-728-6337 or +1-650-801-6500 outside North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Cautionary Statement Except for the historical information contained herein, this news release contains forward-looking statements, including, without limitation, statements containing the words, "believes,'' "anticipates,'' "expects'' and words of similar import. Such forward-looking statements have known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of First Virtual Communications, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others: the success of and timely release of the Company's Click to Meet(TM) products, the increase in sales of the Company's Click to Meet(TM) and Conference Server products, the Company's variability of operating results, market acceptance of web conferencing technology, potential inability to maintain business relationships with integrators, distributors and suppliers, rapid technological changes, competition and consolidation in the web conferencing industry, the importance of attracting and retaining personnel, and other risk factors referenced in First Virtual Communications' public filings with the Securities and Exchange Commission, including the Company's report on Form 10-Q Form 10-Q See 10-Q. for the three month period ended September 30, 2003. All trademarks are recognized. |
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