S.W, FreeRealTime.com Provides Update On 'E' Designation On Stock Symbol
and 'Fully Reporting' Status With SEC...
IRVINE, Calif.--(BUSINESS WIRE)--November 5, 1999--
FreeRealTime.com, Inc., (OTCBB:FRTI), a digital financial media
company, and a leading provider of on-line, real-time stock market
quotes and on-line financial services, announced today an update on
its pursuit of becoming a "fully reporting" public company with the
SEC. As previously announced, to meet the SEC requirements, the
Company filed by the end of September 1999 its Form 10-SB with the
Securities and Exchange Commission (SEC) in preparation of becoming a
fully reporting public company trading on the OTC Bulletin Board
(OTC-BB). The Company is awaiting comments from the SEC and still
expects to be declared effective on or prior to December 1, 1999.
While the Company believes it has complied with the SEC guidelines,
any delays in the review process could hinder the Company's ability to
be declared a fully reporting company by the SEC by December 1, 1999.
In a related matter, the NASD has included the Company on a
listing of OTC-BB companies for whom an "E" will be appended to these
companies' ticker symbols on November 5, 1999. This "E" merely
indicates that these companies are 30 days or less away from their
December 1, 1999 deadline for being declared effective as a fully
reporting company by the SEC. If the NASD receives notification that
the Company has achieved fully reporting status, the "E" will be
removed. As stated above, the Company believes it has complied with
the requirements to become a fully reporting company and will work
diligently to respond to the SEC's comments, if any, when they are
provided to the Company. While the Company has an "E" appended to its
symbol, market makers may continue to quote the security.
"We would like to assure our shareholders that we believe we have
met the various guidelines as provided by the SEC. We are currently
waiting for comments from the SEC which, if there are any, must be
addressed prior to our 10-SB being declared effective," commented
FreeRealTime.com President and CEO Brad Gunn. "We and our counsel,
Latham and Watkins, are in communication with the SEC and we currently
expect to meet the December 1, 1999 deadline."
About FreeRealTime.com
FreeRealTime.com, Inc. is a digital financial media company
providing an array of stock market data, business information, and
sophisticated research, analysis, and management tools for
institutional investors, brokers, independent investors and respected
resellers. CNBC's Power Lunch selected FreeRealTime.com as its 'Cool
Web Site of the Day' on April 27, 1999. FreeRealTime.com was also
featured in Online Investor's May/June 1999 issue, as a "Blue Chip
Pick" for market data. Visit our FreeRealTime.com web site at
www.freerealtime.com.
--30--jar/sf*
CONTACT: Investor Relation Resources
Marty Tullio, 949/566-9860
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