ACE*COMM (ACEC) to be Delisted from NASDAQ
ACE*COMM Corporation (NASDAQ: ACEC) did not appeal the NASDAQ Stock Market's determination to delist the Company's stock from the NASDAQ Capital Market. Accordingly, the company expects its common stock to cease trading on the NASDAQ Capital Market at the opening of business on September 17, 2007.
ACE*COMM's common stock will not be immediately eligible to trade on the OTC Bulletin Board but is expected to become eligible for such trading soon. Until such time trading in the common stock will be conducted in the "Pink Sheets."
Jim Greenwell, ACE*COMM's CEO said, "Our recent financing is not being treated as meeting the stockholders' equity requirement set forth by NASDAQ, and to change that transaction at this point would not be favorable for the company and our shareholders. Therefore, we have decided not to appeal NASDAQ's determination, and will plan to shift over to the bulletin board. Ultimately, the best way for ACE*COMM to enhance shareholder value is to improve our business fundamentals, Our entire organization - management and employees - is committed to building the company's revenues and return to profitability. We are executing a strategy to achieve profitability in our traditional lines of business while investing in the Patrol® Suite of products. We have a streamlined cost structure and capital to support our strategic and financial objectives."
ACE*COMM's common stock will not be immediately eligible to trade on the OTC Bulletin Board but is expected to become eligible for such trading soon. Until such time trading in the common stock will be conducted in the "Pink Sheets."
Jim Greenwell, ACE*COMM's CEO said, "Our recent financing is not being treated as meeting the stockholders' equity requirement set forth by NASDAQ, and to change that transaction at this point would not be favorable for the company and our shareholders. Therefore, we have decided not to appeal NASDAQ's determination, and will plan to shift over to the bulletin board. Ultimately, the best way for ACE*COMM to enhance shareholder value is to improve our business fundamentals, Our entire organization - management and employees - is committed to building the company's revenues and return to profitability. We are executing a strategy to achieve profitability in our traditional lines of business while investing in the Patrol® Suite of products. We have a streamlined cost structure and capital to support our strategic and financial objectives."
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