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Semotus' Compliance Plan Accepted by the American Stock Exchange.


LOS GATOS Los Gatos (lôs gä`tōs, lŏs, găt`əs), city (1990 pop. 27,357), Santa Clara co., W Calif.; inc. 1887. It is an affluent residential community and health resort. , Calif. -- Semotus Solutions, Inc. (AMEX AMEX

See: American Stock Exchange
:DLK DLK Diffuse Lamellar Keratitis
DLK Double-lined Kraft (recycled paper)
DLK Digital Logic Kernel
DLK Dynamically Loadable Kernel
), an innovative provider of software solutions for enterprise mobility, today announced that the American Stock Exchange American Stock Exchange (AMEX)

Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921.
 (AMEX) has accepted Semotus' plan to regain compliance with the AMEX continued listing standards. The Company's listing is being continued pursuant to an extension period that will end concurrent with the closing of the merger with Citytalk, Inc. The merger is expected to close by January 31, 2007.

Upon the close of the merger with Citytalk, the surviving corporation will remain a public company. However, the merger transaction will result in a change of control, and Semotus' name, stock symbol and board of directors will change. At the time the merger is closed, the post-transaction entity must meet the AMEX initial listing standards pursuant to Section 341 of the AMEX Company Guide.

AMEX notified Semotus on July 14, 2006 that the Company had failed to comply with Section 1003(a)(ii) of the AMEX Company Guide relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 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 less than $4,000,000 and losses from continuing operations continuing operations

Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the
 and/or net losses in three out of its four most recent fiscal years, and Section 1003(a)(iii) of the AMEX Company Guide relating to shareholders' equity of less than $6,000,000 and losses from continuing operations and/or net losses in its five more recent fiscal years. In addition, in accordance with Section 1003(f)(v) of the Company Guide, the AMEX determined that it deems it appropriate for Semotus to effect a reverse stock split of its common stock to address its low selling price. Semotus was afforded the opportunity to submit a plan of compliance to the AMEX, and did so on August 21, 2006, which outlined the Company's plans to regain compliance with AMEX's 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.
. Semotus provided updates and amendments to its original compliance plan to the AMEX in late August, September, October and November of 2006. On November 15, 2006 the AMEX notified Semotus that it accepted Semotus' compliance plan.

To maintain its listing, Semotus will be subject to periodic review by AMEX staff during the extension period. During this time, Semotus is required to make progress consistent with the plan and to regain compliance with the listing standards by January 31, 2007. If Semotus does not make progress consistent with the plan or fails to reach the initial listing standards by January 31, 2007, the AMEX will initiate delisting proceedings pursuant to Section 1009 of the AMEX Company Guide.

About Semotus Solutions, Inc.

Founded in 1993, Semotus Solutions (AMEX:DLK) is a provider of software for the mobile enterprise, connecting people to critical business systems, information and processes. Semotus has a Fortune 1000 customer base including Lockheed Martin, Blue Cross Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. , Coca-Cola, Hewlett Packard, Nextel Communications, JP Morgan Chase and The United Nations. Semotus Solutions' software provides mobility, convenience, efficiency and profitability in the areas of workforce automation, finance, health care and m-commerce. For more information, please visit the following web sites: www.semotus.com; www.hiplinkwireless.com; www.clickmarks.com; www.xb.com.

This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor 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. Words such as "intends," "believes," and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses Operating expenses

The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted.
, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Nov 21, 2006
Words:660
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