Constellation 3D, Inc. Receives Nasdaq Staff Letter
NEW YORK, Jan. 2 /PRNewswire/ -- Constellation 3D, Inc. (the "Company") (Nasdaq: CDDD) - developer of Fluorescent Multilayer Disc (FMD) and Card (FMC) technologies, today announced that the Company received a Nasdaq Staff Determination on December 26, 2001 indicating that the Company fails to comply with the net tangible assets, shareholders' equity, market capitalization, total assets, total revenue and shareholder approval of officer and director grants requirements, as set forth in Nasdaq Marketplace Rules 4450(a)(3), 4450(b)(1) and 4350(i)(1)(A), and that its securities are, therefore subject to delisting from the Nasdaq National Market. The Company has requested a hearing before the Nasdaq Listing Qualifications Panel to review the Staff Determination. There can be no assurance the Panel will grant the Company's request for continued listing.
The Company anticipates submitting a listing application to the Nasdaq SmallCap Market. There can be no assurance that the Company's common stock will be accepted for quotation on the Nasdaq SmallCap Market.
Constellation 3D, Inc.
The Company is the worldwide leader in the development of high capacity Fluorescent Multilayer Disc and Card (FMD/C) technology. The Company holds or has made applications for 122 worldwide patents in the field of optical data storage, and is supported by a team of world-class scientists. Headquartered in New York City, the Company has additional offices and laboratories in Texas, Israel and Russia. More information is available at www.c-3d.net.
Safe Harbor Statement
Statements contained in the news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements as "The Company anticipates submitting a listing application to the Nasdaq SmallCap Market" are subject to risks and uncertainties which include, but are not limited to additional financings, market conditions, R&D efforts, competition, ongoing discussions with product and equipment manufactures, and technological advances, and "Risk Factors" as stated in recent SEC filings, which may cause actual results to differ materially from expected results.
For more information contact:
Investor/ Broker Inquiries: Company Contacts:
Bradley Meyer/Harvey Goralnick Michael Goldberg, Esq.
FOCUS Partners LLC 1 954 568 3007
1 212 752 9445 mgoldberg@c-3d.net
investors@c-3d.net
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SOURCE Constellation 3D, Inc.
CO: Constellation 3D, Inc.
ST: New York
IN: CPR HRD
SU:
01/02/2002 15:00 EST prnewswire.com |
