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Press Release Source: Calypte Biomedical Corporation
Calypte to Withdraw its American Stock Exchange Common Stock Listing Monday July 31, 12:11 pm ET
LAKE OSWEGO, Ore., July 31 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation (Amex: HIV - News), medical diagnostic tests manufacturer for the professional point of care (PRO) and over the counter (OTC) segments of the market primarily for the detection of antibodies to the human immunodeficiency virus (HIV) announced today that it has filed a voluntary request with the American Stock Exchange ("Amex" or the "Exchange") to withdraw its common stock from listing on the Amex effective as soon as practicable in compliance with the rules and regulations of the Amex and the SEC. ADVERTISEMENT
The Exchange has previously advised the Company that it was not in compliance with Section 1003(a)(iii) of the Exchange\'s Company Guide with shareholders\' equity of less than $6,000,000 and losses from continuing operations and/or net losses in its five most recent fiscal years; and Section 1003(a)(iv) with losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition had become so impaired that it appears questionable, in the opinion of the Exchange, as to whether the Company would be able to continue operations and/or meet its obligations as they mature. In March 2006, the Company appealed the determination of the Exchange\'s staff to initiate delisting procedures in a hearing before a listing qualifications panel of the Amex Committee on Securities (the "Panel").
The Panel set July 31, 2006 as the date by which the Company must demonstrate that it had regained compliance with the Amex\'s continued listing standards. If the Company is unable to demonstrate at that time that it is in compliance with those standards, the Panel agreed that the Amex should immediately move to de-list the Company\'s common stock.
Roger I. Gale, Chairman and Chief Executive Officer of Calypte stated, "Although we are making progress with our financing efforts, the Company will not meet the Exchange\'s continued listing standards by the July 31, 2006 compliance date specified by the Panel. Accordingly, the Company has determined to remove its common stock from listing on the Amex as soon as practicable. The Company plans to provide an operational update in conjunction with the release of its second quarter financial results in the first part of August."
Following a required notice period, Calypte\'s common stock will no longer be listed on the Amex. At that time, the Company expects that its common stock will trade on the NASD Over the Counter Bulletin Board. The Company is in the process of obtaining a new trading symbol.
also: keine großaufträge, keine umsätze, einfach nichts!!!
frechheit von gale:
Roger I. Gale, Chairman and Chief Executive Officer of Calypte stated, "Although we are making progress with our financing efforts, the Company will not meet the Exchange\'s continued listing standards by the July 31, 2006 compliance date specified by the Panel. Accordingly, the Company has determined to remove its common stock from listing on the Amex as soon as practicable.
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