Intrusion Inc. Stockholders Approve Reverse Stock Split
19 Marzo 2004 - 10:14PM
PR Newswire (US)
Intrusion Inc. Stockholders Approve Reverse Stock Split RICHARDSON,
Texas, March 19 /PRNewswire-FirstCall/ -- Intrusion Inc. ,
("Intrusion") today announced that at a special meeting held on
March 18, 2004, Intrusion stockholders approved an amendment to
Intrusion's certificate of incorporation to effect a four-for-one
(4:1) reverse stock split of Intrusion common stock. The reverse
split will become effective as of the opening of business on March
29, 2004. At that time, the trading symbol of Intrusion stock will
become "INTZCD" for a period of 20 days, after which it will return
to "INTZC" until Nasdaq informs Intrusion that it has satisfied the
requirements of its conditional listing exception. On January 30,
2004 Intrusion announced that its common stock would continue to be
listed on The Nasdaq SmallCap market via an exception from the
$1.00 minimum bid price requirement granted by a Nasdaq Listing
Qualifications Panel. While Intrusion failed to meet this
requirement as of November 5,2003, the Company was granted a
temporary exception from this standard subject to Intrusion meeting
certain conditions, including the completion of the reverse stock
split. In the event the Company is deemed to have met the terms of
the exception, it shall continue to be listed on The Nasdaq
SmallCap Market. The Company believes that it can meet these
conditions, however, there can be no assurance that it will do so.
If at some future date the Company's securities should cease to be
listed on The Nasdaq SmallCap Market, they may continue to be
listed in the OTC Bulletin Board. About Intrusion Inc. Intrusion
Inc. is a leading global provider of the Intrusion SecureNet(TM)
line of leading network intrusion prevention, intrusion detection
and regulated information compliance products, as well as
deployment technologies and security services for the
information-driven economy. The Intrusion SecureNet(TM) family of
network security products for governments and enterprises help
protect critical information assets by quickly detecting, analyzing
and responding to attacks and the misuse of classified and
regulated information. Associated Intrusion SecureNet(TM) Intrusion
Detection(R) services provide unique value to governments and
enterprises in protecting information assets. For more information,
please visit http://www.intrusion.com/ . This release, other than
historical information, may include forward- looking statements
regarding future events or our future performance, including,
without limitation, statements relating to our ability to regain
compliance with the continued listing requirements of The Nasdaq
SmallCap Market. These statements are made under the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995
and involve risks and uncertainties which could cause actual
results to differ materially from those in the forward looking
statements, including, without limitation, our ability to meet the
conditions for continued listing on The Nasdaq SmallCap Market
within the specified times, our ability to comply with all Nasdaq's
continued listing requirements currently and in the future, whether
the reverse stock split will have the desired consequences and our
ability to raise additional capital, as well as other risks and
uncertainties identified in our Annual Report on Form 10-K, our
Definitive Proxy Statement on Schedule 14A filed with the SEC on
February 12, 2004 and other filings with the SEC. Copies of these
filings can be obtained from our Investor Relations department.
Financial Contact Michael L. Paxton, VP, CFO 972.301.3658, Media
Contact Ryon Packer, VP 972.664.8072,
http://www.newscom.com/cgi-bin/prnh/20030703/INTRUSIONLOGO
http://photoarchive.ap.org/ DATASOURCE: Intrusion Inc. CONTACT:
financial, Michael L. Paxton, VP, CFO, +1-972-301-3658, or , or
media, Ryon Packer, VP, +1-972-664-8072, or , both of Intrusion
Inc. Web site: http://www.intrusion.com/
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