Daleen Moves To SmallCap Market
BOCA RATON, Fla., Jul 12, 2002 (BUSINESS WIRE) -- Daleen Technologies, Inc. (DALN, Trade), a global provider of high performance billing and customer care software solutions that manage the revenue chain, today announced that a Listing Qualifications Panel of The Nasdaq Stock Market has approved the transfer of the listing of Daleen's common stock to The Nasdaq SmallCap Market effective with the open of business on Friday, July 12, 2002. The securities will continue trading under the current symbol: "DALN."
The continued listing of Daleen's common stock on The Nasdaq SmallCap Market is contingent upon the successful completion of an application and review process. This process will require Daleen to file an application for this new listing, to pay all initial listing fees, and to provide evidence of compliance with all requirements for continued listing on The Nasdaq SmallCap Market. Daleen will have until August 13, 2002 to demonstrate a closing bid price of at least $1.00 per share and must maintain such price for a minimum of ten consecutive trading days. However, the company currently meets the SmallCap threshold requirement of shareholders' equity, market capitalization or net income. Therefore, if Daleen does not attain the minimum bid price requirement by August 13, 2002, it may be eligible for an additional 180-day extension for listing on The Nasdaq SmallCap Market.
Daleen Technologies, Inc. is a global provider of high performance billing and customer care software solutions that manage the revenue chain for traditional and next-generation communication service providers, retailers and distributors of digital media, and technology solutions providers. Offering proven integration with leading CRM and other legacy enterprise systems, Daleen's RevChain(TM) software and pure Internet Integration Architecture (IIA(TM)) leverage open Internet technologies to enable providers to achieve peak operational efficiency while driving maximum revenue from their product and service offerings. The company is currently ranked No. 1 worldwide in overall customer satisfaction based on timeliness of delivery, functionality, delivery within budget, vendor support and maintenance, system flexibility and interoperability. Additional information is available at daleen.com.
Information with Respect to Forward-Looking Statements. Statements in this release may be considered "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. These include statements regarding the intent, belief or current expectations of the company and the assumptions on which these statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the company's ability to continue as a going concern; the ability of the company to increase its revenues; the fact that the company has not yet achieved profitability; variance of quarterly operating results; uncertainty as to the company's ability to maintain compliance with the continued listing requirements of The Nasdaq Stock Market; competition; use of strategic relationships to implement and sell our products; potential customer's market position and lack of financial resources; lengthy sales cycles and timing of contract awards; low price and volatility of the company's common stock; on-going securities class action against the company; the costs and success of the company's international expansion; and the recent private placement of series F convertible preferred stock and the rights and preferences of the stockholders. These factors and others are described in the company's most recent SEC filings including the most recently filed Form 10-K and in the company's Quarterly Reports on Form 10-Q. The company undertakes no obligation to update the forward-looking statements in this news release.
Daleen, IIA and RevChain are registered trademarks or trademarks of Daleen Technologies Inc. in the United States and other countries. All other trademarks and registered trademarks are property of their respective owners. See the independent report issued by Chorleywood Consulting titled "Global Trends and Market Forecasts in Telecoms BCC 2001.
CONTACT: Daleen Technologies, Inc., Boca Raton Teresa M. Gyulafia, 561/981-2119 tgyulafia@daleen.com |
