SEC Grants Interim Stay Regarding Removal of Burst.com Stock Quotations.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--May 5, 2000 Burst.Com, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : IVDOE) announced today that it has obtained an order from the Securities and Exchange Commission (SEC) granting an interim stay of the NASD's action to remove Burst.Com's stock quotations from 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. . The SEC stay is part of an effort to appeal the NASD-scheduled removal of Burst.Com's stock quotations from the OTC Bulletin Board operated by the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). . The application for stay was filed with the Securities and Exchange Commission on May 3, 2000 in order to stay the removal of Burst.Com's shares until its appeal rights with the NASD can be resolved by the SEC. No assurances can be given that the outcome of the company's appeal will be successful in preventing the threatened 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. . The NASD, pursuant to its Eligibility Rules eligibility rules, n.pl the conditions that define who may be entitled to dental benefits, when persons first become entitled to such benefits, and any provisions that determine how long an individual remains entitled to benefits. for the OTC Bulletin Board, specified that Burst.Com would no longer be eligible for quotation after May 7, 2000 until it complied with NASD Rule 6530. To remain eligible to be quoted on the OTC Bulletin Board, an issuer must be registered and current in all filings pursuant to the Securities Exchange Act of 1934. By filing a registration statement with the SEC on November 12, 1999, Burst.Com has taken steps to become a reporting company. Burst.Com has asserted to the NASD that the registration statement is currently effective and believes it is current in all filings. Burst.Com, headquartered in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , is the developer of Faster-Than-Real-Time(TM) and Burst-enabled(TM) video and audio delivery software. Burst.Com's Burstware(R) provides high-quality delivery of full motion video and CD-quality audio over almost any IP-based network. The company has built an international patent portfolio covering bursting, video delivery scheduling and rapid-casting. Note to Editors: Burstware(R) is a registered trademark of Burst.Com, and Faster-Than-Real-Time(TM) and Burst-enabled(TM) are trademarks of Burst.Com. Please note: 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 provides a "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. " for forward-looking statements. Certain information included in this news release (as well as information in oral statements or other written statements made or to be made by Burst.Com, Inc.) contain statements that are forward-looking, such as statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the future anticipated direction of the futures and securities industry, plans for future expansion, various business development activities, planned capital expenditures, anticipated sales, potential contracts, dependence on existing management, domestic and global economic conditions, changes in federal or state laws, and market competition factors. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Burst.Com, Inc. |
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