Daleen Granted Extension by Nasdaq ...
Company Continues Trading on Nasdaq SmallCap Market
BOCA RATON, Fla., Aug 15, 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, announced today that it has received official notification from the Nasdaq Listing Qualifications Panel that the company has been granted an additional 180 calendar days, or until February 10, 2003, to regain compliance with the $1.00 per share minimum bid price requirement for continued 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 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
or Jeanne Prayther, 561/981-2004 jprayther@daleen.com |
