Jon Markman also pumped Xcelera Inc in three articles and bashed Christoper Byron.
Alex Vik to his U.S. investors and the SEC: Thanks for the memories (and the $400 million). See ya!
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Xcelera Announces Delisting
- BusinessWire
GRAND CAYMAN, British West Indies, Nov 5, 2004 (BUSINESS WIRE) -- Xcelera
Inc. , a European technology company, today announced that the Listing
Qualifications Panel of the American Stock Exchange Committee on Securities
has affirmed the determination of the staff of the Listing Qualifications
Department to delist the Company's common stock as a result of the Company's
non-compliance with its Securities and Exchange Commission filing
requirements. The Company is currently delinquent in filing its Annual
Report on Form 20-F for its fiscal year ended January 31, 2004 (the "2004
Form 20-F"). The Company has been advised by Amex that trading of its common
stock will be suspended prior to the open of trading on Monday, November 15,
2004.
The Company's Annual Report on Form 20-F for its fiscal year ended January
31, 2003 (the "2003 Form 20-F") is currently under review by the Division of
Corporation Finance of the SEC. On October 8, 2004, the Company submitted a
response to a comment letter dated August 16, 2004, from the Division of
Corporation Finance. In its October 8 response, the Company provided an
analysis to support the Company's position that it is not an investment
company under the Investment Company Act of 1940 and clarifications
regarding the Company's accounting treatment of the settlement during the
fiscal year ended January 31, 2003 of a convertible note issued by the
Company to Hewlett-Packard Company. The Company has not yet received
comments from the SEC on the Company's October 8 response. Because the
Company has not yet received such comments from the SEC, the Company no
longer expects that it will file its amended 2003 Form 20-F, or its 2004
Form 20-F, by November 15, 2004.
The Company's common stock will remain listed on Xetra, a worldwide
electronic trading system operated by the Frankfurt Stock Exchange (Deutsche
Borse AG), under ticker symbol "XLA."
About Xcelera Inc.
Xcelera Inc. is a European technology company focused on founding,
developing, operating and financing technology companies. For more
information, visit Xcelera on the Web at www.xcelera.com.
This press release may contain "forward-looking statements" within the
meaning of the securities laws. The Company believes that its expectations
are reasonable and are based on reasonable assumptions. However, risks and
uncertainties relating to future events that could cause actual results to
differ materially from our expectations include the factors discussed in the
Company's Annual Report on Form 20-F for the Fiscal Year Ended January 31,
2003 filed with the Securities and Exchange Commission. The Company does not
intend, and assumes no obligation, to update any forward-looking statements.
SOURCE: Xcelera Inc.
Xcelera Inc.
Per R. Johansson or Michael J. Kugler, 203-622-1606
investorrelations@xcelera.com
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