ELECTRIC CITY CORP - Formally Approved To Enter The American Stock Exchange - Trading on the Exchange Expected To Begin Shortly
New York, New York, Dec. 07, 2000 (Market News Publishing via COMTEX) -- Electric City Corp. announced that the Company's application for listing has been approved by The American Stock Exchange. "Movement to The American Stock Exchange represents a significant step for our Company," stated John Mitola, CEO of Electric City Corp. "We are very proud of this accomplishment and extremely pleased to move to The American Stock Exchange. We believe the Exchange provides a special focus on new technology companies emerging as a result of deregulation of the electric utility industry. Therefore, we think we are joining very good company."
"We believe Electric City has come a long way over the past eleven months. We view Tuesday's announcement of our CIT financing plan and The American Stock Exchange approval as the high points of this year's efforts," added Brian Kawamura, President/COO of Electric City Corp. "Both developments set the stage for what we expect will be very strong growth in 2001."
"Our CFO, Jeff Mistarz, deserves a great deal of credit for his diligent efforts in pursuit of The American Stock Exchange approval," continued Mitola. "We expect to immediately work with the Exchange to select our trading symbol and to begin trading in very short order."
Electric City is a leading developer, manufacturer and integrator of energy savings technologies and custom electric switchgear. The Company currently markets the EnergySaver(TM), the GlobalCommander, TP3 and custom switchgear. Electric City is based in Elk Grove Village, Illinois and is currently traded under the symbol ECCC. Additional information is available at the Company's website at www.electriccityeccc.com or can be obtained by contacting Glenn Akselrod at Level Jump Financial Group at 877-477-0477 or www.leveljump.com and Tony Schor at Investor Awareness, Inc. at 847-945-2222 or www.investorawareness.com.
This news release includes forward-looking statements that reflect Electric City's current expectations about its future results, performance, prospects and opportunities. Electric City has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates", "should", "typical", "we are confident" or similar expressions. These forward-looking statements are based on information currently available to Electric City and are subject to a number of risks, uncertainties and other factors that could cause Electric City's actual results, performance, prospects or opportunities in the remainder of 2000 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's limited operating history, the Company's history of operating losses, consumers' acceptance of the Company's new and existing products, the Company's use of licensed technologies, risk of increased competition, the Company's ability to successfully integrate acquired business products and technologies to satisfy consumer demands and requirements, the possible volatility of the Company's stock price, the concentration of ownership and the potential fluctuation in the Company's operating results. For further information about these and other risks, uncertainties and factors, please review the disclosure included under the captions "Description of Business" and "Management's Discussion and Analysis of Financial Condition or Plan of Operations" in Electric City's Quarterly Reports on Form 10-QSB and Annual Report on Form 10-KSB filed with the Securities and Exchange Commission in 2000. Except as required by the federal securities laws, Electric City undertakes no obligation to publicly update or revise any forward-looking statements ,whether as a result of new information, future events, changed circumstances or any other reason after the date of this news release.
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