Semotus' Compliance Plan Accepted by the American Stock Exchange
22 11์ 2006 - 7:17AM
Business Wire
Semotus Solutions, Inc. (AMEX:DLK), an innovative provider of
software solutions for enterprise mobility, today announced that
the American Stock Exchange (AMEX) has accepted Semotus๏ฟฝ plan to
regain compliance with the AMEX continued listing standards. The
Company๏ฟฝs 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๏ฟฝ 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 shareholders๏ฟฝ equity of less than
$4,000,000 and losses from continuing operations 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๏ฟฝ
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๏ฟฝs plans to regain compliance with AMEX's
continued listing requirements. 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๏ฟฝ 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, 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 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, 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.
Semotus Solutions, Inc. (AMEX:DLK), an innovative provider of
software solutions for enterprise mobility, today announced that
the American Stock Exchange (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 shareholders' equity of less than
$4,000,000 and losses from continuing operations 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. 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, 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 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, 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.
Semotus In (AMEX:DLK)
๊ณผ๊ฑฐ ๋ฐ์ดํฐ ์ฃผ์ ์ฐจํธ
๋ถํฐ 5์(5) 2024 ์ผ๋ก 6์(6) 2024
Semotus In (AMEX:DLK)
๊ณผ๊ฑฐ ๋ฐ์ดํฐ ์ฃผ์ ์ฐจํธ
๋ถํฐ 6์(6) 2023 ์ผ๋ก 6์(6) 2024