WAMEX Comments On Recent Developments.Business Editors NEW YORK--(BUSINESS WIRE)--June 29, 2000 Thursday, the Securities and Exchange Commissions imposed suspension of the trading of WAMEX WAMEX Washington Area Music Exchange WAMEX West African Monsoon Experiment Holdings Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :WAMX) stock expired and public trading will resume. During this time, the company has focused on several key issues, including; evaluating the concerns of regulators, completing development of its products and assessing the impact of the recent events on its business plan and shareholders. While there have been charges levied against some corporate officers, there have been no formal charges against the company. As to the charges levied against individuals, the company believes that ultimately they will be found to be without merit. The company and its predecessors have spent years conceptualizing, developing and refining costly and extremely sophisticated proprietary software programs, Web designs and database architectures. Additionally, the company has expended ex·pend tr.v. ex·pend·ed, ex·pend·ing, ex·pends 1. To lay out; spend: expending tax revenues on government operations. See Synonyms at spend. 2. significant time and energy fostering relationships with corporations that are leaders in their particular fields of endeavor. The characterization of these efforts as having no merit is incorrect. Mitchell H. Cushing, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of WAMEX stated: "I deeply regret the frustration and confusion that the shareholders must be experiencing. I want to thank the shareholders and others who are following these events for the practical and emotional support. I want our shareholders to know that WAMEX is striving to continue to justify investor faith in the company and to resolve those issues of concern." The WAMEX lead product, the WAMEX Alternative Trading System The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. (ATS) Technology, www.wamex.com, addresses one of the largest and most active industries worldwide. The proprietary system will enable a community of investors to consummate transactions more efficiently and at a lower cost. 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. Statement: This release may contain certain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities and Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Actual events or results may differ from the company's expectations. |
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