Photomatrix Shares to Trade On OTC Bulletin Board
CARLSBAD, Calif.--(BUSINESS WIRE)--July 9, 1999--Photomatrix Inc. (PHRX), announced that effective the beginning of trading today that its common stock will be quoted and traded on the Over-the-Counter Bulletin Board under the symbol ''PHRX.''
The stated that on July 8, 1999, it received written notification from NASDAQ that its securities would be delisted from the NASDAQ SmallCap Market effective the end of trading on July 8, 1999.
As previously announced, on Nov. 10, 1998, NASDAQ advised Photomatrix that it was not in compliance with the minimum bid price requirement and that the company was being afforded a ninety day grace period, until Feb. 10, 1999, to remedy this deficiency or be de-listed from the NASDAQ SmallCap Stock Market. The company was unable to comply with the bid price requirement within the grace period.
At a formal hearing with NASDAQ on April 16, 1999 we requested an extension period, during which time we could comply with the minimum bid requirement. As of July 8, 1999, the company remained in non-compliance with the minimum bid price requirement. NASDAQ denied the company's request for such an extension.
Photomatrix Inc., headquartered in Carlsbad, Calif., is a value-added engineering, design and manufacturing company specializing in high-performance document scanners and aperture card scanners and digital imaging. Complete company and product information can be found at the company's website which is located at www.photomatrix.com.
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Contact:
Photomatrix Inc.
Roy Gayhart, 760/431-4999, Ext. 329 |
