Hawaiian Natural Water Continues to be Listed On Nasdaq, Subject to Exception.HONOLULU--(BUSINESS WIRE)--Aug. 11, 1999-- Hawaiian Natural Water Company, 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 :HNWCC)(NASDAQ:HNWWC) announced today that its common stock will continue to be listed on The Nasdaq SmallCap Market(tm) via an exception from the net tangible assets/market capitalization/net income and minimum bid price requirements. While Hawaiian Natural Water failed to meet these requirements as of March 31, 1999, the Company was granted a temporary exception from this standard, subject to Hawaiian Natural Water meeting certain conditions. The exception will expire on September 30, 1999. In the event the Company is deemed to have met the terms of the exception, it shall continue to be listed on The Nasdaq SmallCap Market(tm). The Company believes that it can meet these conditions, however, there can be no assurance that it will do so. If at some future date the Company's securities should cease to be listed on The Nasdaq SmallCap Market(tm), the Company may continue to be listed 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. . For the duration of the exception, the Company's Nasdaq symbol will be HNWCC and the new symbol for the Company's publicly traded warrants will be HNWWC. Hawaiian Natural Water Company bottles, markets, and distributes bottled water in the U.S., the Middle East, and Asia for the fastest growing segment of the bottled water industry, the retail premium (2 liters or less) PET market. Hawaiian Natural Water complies with FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. labeling requirements for "bottled at the source" and "natural artesian Ar`te´sian a. 1. Of or pertaining to Artois (anciently called Artesium), in France. Artesian wells wells made by boring into the earth till the instrument reaches water, which, from internal pressure, flows spontaneously like a " water. 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. in this release are made pursuant to the "safe harbor 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. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, possible changes in cost of materials, expense items, capital expenditures, capital structure, and other financial items; introduction of new products and possible acquisitions of assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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