GoAmerica Receives Temporary Exception to Nasdaq's $1 Minimum Bid Price Listing Requirement
19 Agosto 2004 - 4:16PM
PR Newswire (US)
GoAmerica Receives Temporary Exception to Nasdaq's $1 Minimum Bid
Price Listing Requirement Trading Symbol Changed During Conditional
Listing HACKENSACK, N.J., Aug. 19 /PRNewswire-FirstCall/ --
GoAmerica, Inc. (Nasdaq: GOAM; GOAMC) today announced that it has
received a Nasdaq Listing Qualifications Panel Determination
granting GoAmerica a temporary exception to the $1.00 minimum
closing bid price per share requirement for continued listing on
The Nasdaq SmallCap Market (as required by Nasdaq's Marketplace
Rule 4310(c)(4)) through at least October 4, 2004, subject to
certain conditions. As previously announced, GoAmerica had appealed
a June 2004 Nasdaq Staff Determination that the Company's Common
Stock be delisted for failure to satisfy the minimum bid price by
May 31, 2004. The Nasdaq Listings Qualifications Panel provided
such additional time for compliance by GoAmerica with Marketplace
Rule 4310(c)(4) because GoAmerica is in compliance with all other
Nasdaq listing requirements; however, the temporary exception also
provides interim deadlines for certain actions the Company must
complete as part of the process of remedying its bid price
deficiency. The Company believes that it can meet these conditions,
however, there can be no assurance that it will do so. In
connection with the temporary exception, Nasdaq has appended a
fifth character "C" to GoAmerica's regular "GOAM" trading symbol,
effective as of the commencement of trading on the Nasdaq SmallCap
Market on August 19, 2004, so that GoAmerica's trading symbol will
be "GOAMC" for the duration of the exception. In the event that the
Company's Common Stock ceases to be listed on The Nasdaq SmallCap
Market, the Company expects to be immediately listed in the
OTC-Bulletin Board maintained by Nasdaq. About GoAmerica
GoAmerica(R) is a leading provider of wireless telecommunications
services for people with hearing loss. The Company's vision is to
improve the quality of life for people who are deaf or hard of
hearing by being their premier provider of innovative communication
services. WyndTell(R)-a GoAmerica service-is the wireless service
of choice for thousands of deaf consumers across the U. S., and was
recognized for Excellence in Universal Design and Technology, by
the California Governor's Committee for the Employment of Disabled
Persons. For more information, visit http://www.goamerica.com/ or
contact GoAmerica directly at TTY 201-527-1520, voice 201-996-1717.
The statements contained in this news release that are not based on
historical fact are "forward-looking statements" within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements may be identified by the use of
forward-looking terminology such as "may," "will," "expect,"
"estimate," "anticipate," "continue," or similar terms, variations
of such terms or the negative of those terms. Such forward-looking
statements involve risks and uncertainties, including, but not
limited to: (i) our limited operating history; (ii) our ability to
successfully manage our strategic alliance with EarthLink; (iii)
our dependence on EarthLink to provide billing, customer and
technical support to certain of our subscribers; (iv) our ability
to respond to the rapid technological change of the wireless data
industry and offer new services; (v) our dependence on wireless
carrier networks; (vi) our ability to respond to increased
competition in the wireless data industry; (vii) our ability to
integrate acquired businesses and technologies; (viii) our ability
to generate revenue growth; (ix) our ability to increase or
maintain gross margins, profitability, liquidity and capital
resources; and (x) our ability to manage our remaining operations;
and (xi) difficulties inherent in predicting the outcome of
regulatory processes. Such risks and others are more fully
described in the Risk Factors set forth in our filings with the
Securities and Exchange Commission. Our actual results could differ
materially from the results expressed in, or implied by, such
forward-looking statements. Each reference in this news release to
"GoAmerica," the "Company" or "We," or any variation thereof, is a
reference to GoAmerica, Inc. and its subsidiaries. "GoAmerica" and
"WyndTell" are registered trademarks of GoAmerica. "Go.Web,"
"Go.Web Enterprise Server," "Mobile Office," and "OnPrem" are also
trademarks or service marks of GoAmerica. Other names may be
trademarks of their respective owners. DATASOURCE: GoAmerica, Inc.
CONTACT: Investor Relations for GoAmerica, +1-201-996-1717, Web
site: http://www.goamerica.net/
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