Thread reminder: Per their last PR, their 10K should be released today. IMO, it won't take much to get them back over $1 considering the market momentum and the 52 week chart.
Monday May 7, 4:30 pm Eastern Time
Press Release
SOURCE: Breakaway Solutions, Inc.
Breakaway Solutions Responds to Nasdaq Letter
CONSHOHOCKEN, Pa., May 7 /PRNewswire/ -- Breakaway Solutions, Inc. (Nasdaq: BWAYE - news), a Full Service Provider (FSP) of integrated strategy, implementation and application hosting solutions for collaborative ebusinesses, today announced it received correspondence from the listing department of the Nasdaq Stock Market indicating that the Company does not currently comply with the shareholder approval, voting rights and bid price listing requirements set forth in Nasdaq Marketplace Rules 4350(i)1(A), 4351, and 4450(a)(05), respectively.
Breakaway Solutions believes that it did and does comply with the shareholder and voting rights rules and had structured the transaction as advised by its outside counsel. The Company has already replied to Nasdaq, and will be discussing Nasdaq's position at an oral hearing to be held on May 17, 2001.
Separately, the Company anticipates filing its Form 10-K prior to May 17, 2001. Thereafter, Breakaway Solutions anticipates its original ``BWAY'' ticker symbol to be reinstated.
About Breakaway Solutions
Breakaway Solutions, Inc. (Nasdaq: BWAYE - news) is a leading Full Service Provider (FSP) specializing in defining, creating, and operating sustainable digital businesses for Global 3000 collaborative e-business enterprises through strategy, implementation, and application hosting services. Headquartered in Conshohocken, PA, Breakaway Solutions has a network of regional offices and Internet Solutions Centers in major cities across the U.S. and in Europe, as well as 11 Application Hosting facilities in North America, Europe, Asia and Australia. Breakaway Solutions can be reached at 800/925-7100 or at www.breakaway.com.
Except for the historical information contained in this announcement, the matters discussed in this announcement are ``forward-looking statements'' (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including risks relating to the attractiveness of Breakaway's Full Service Provider model to its current and prospective customers, likely variations in quarterly revenues and operating results, the ability to realize benefits from acquisitions and strategic alliances, risks in conducting business outside the United States, the adoption and acceptance of application hosting services by growing enterprises, personnel and customer retention, ability to raise additional capital, equity dilution, business change, product acceptance and customer demand, variation in quarterly results, competition, and growth management detailed from time-to-time in Breakaway Solutions, Inc.'s filings with the Securities and Exchange Commission. Breakaway Solutions, Inc. draws the reader's attention to the factors described in its Quarterly Report on Form 10-Q for the Period Ended Sept. 30, 2000 under the heading ``Factors That May Affect Future Results.'' Any such forward-looking statements speak only as of the date such statements are made, and the company undertakes no obligation to publicly release the results of any revision to these forward-looking statements or otherwise update or supplement this announcement or the risk factors contained in its filings with the Securities and Exchange Commission.
Contact:
Joanna Bolles Jennifer Meyer
Public Relations Manager PAN Communications, Inc.
Breakaway Solutions, Inc. breakaway@pancomm.com
jbolles@breakaway.com 978/474-1900
978/823-1644
MAKE YOUR OPINION COUNT - Click Here
tbutton.prnewswire.com
SOURCE: Breakaway Solutions, Inc.
Email this story - Most-emailed articles - |
