Oryx Technology to Trade On the OTC Bulletin Board
BizWire
January 9, 2003 (6:30 p.m. EST)
Latest Headlines
BizWire
New Edge Networks Inks National Broadband Access Deal with Verizon
Telecom Communications Announces Editorial Brief by Michael Norman in the Economic Contrarian Update
Sharp Develops New LCD Display Technology for Mobile Applications
ATI Reports Fourth Quarter Financial Results; Notebook and Cell Phone Sales Lead Strong Results
InVision Technologies, Inc. to Release Third Quarter 2003 Financial Results
ShipLogix Enables Online Rating via XML; Integration of Cass Information Systems` Ratemaker Enhances Rating Capabilities
Xicor Introduces Non-Volatile Digitally Adjustable 1.25V Reference; X60250 Integrates 8-Bit Precision Voltage Reference with 256-Tap DCP and Power on Recall Function
Archives
Business Editors/High-Tech Writers
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 9, 2003--Oryx Technology Corporation announced today that its common stock will be delisted from The Nasdaq SmallCap Market effective with the open of business on Friday, January 10, 2003 due to its noncompliance with Nasdaq's minimum stockholders' equity requirement for continued listing. The Company's common stock will be immediately eligible for quotation on the OTC Bulletin Board under the symbol ORYX, effective with the open of business on January 10, 2003. For a company to trade on the OTC Bulletin Board, a market maker must continue to make market in that company's shares. While there can be no assurance that its common stock will trade on the OTC Bulletin Board following the move from Nasdaq, Oryx believes that market makers will continue to make a market in its shares of common stock on the OTC Bulletin Board.
Company Profile
Headquartered in San Jose, California, Oryx Technology Corporation is a technology licensing, investment and management service company with a proprietary portfolio of high technology products in surge protection. Oryx also provides management services to early-stage technology companies through its affiliate, Oryx Ventures, LLC. Oryx's common stock trades under the symbol ORYX.
Forward-Looking Statements
Certain of the matters discussed in this release are forward-looking and involve a number of risks and uncertainties. Oryx's actual results could differ materially from those described for a variety of factors. Such factors could include, but are not limited to, those discussed in "Risk Factors" and "Management's Discussion and Analysis" in Oryx's Form 10-KSB filed for the fiscal years ended February 28, 2001 and February 28, 2002, as well as those discussed elsewhere in other public filings made by Oryx with the Securities and Exchange Commission. Among the factors that could cause actual results to differ materially are the following: adverse changes in the specific markets for Oryx products, adverse business conditions, dependence on licensees of Oryx technology for the commercial success of new products, lack of success in technological advancement, management of cost controls and cash resources, need for additional financing and other factors.
--30--kt/sf*
CONTACT: Oryx Technology Corp. Philip Micciche, 408/979-2955
KEYWORD: CALIFORNIA INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS SOURCE: Oryx Technology Corp.
=============================================
EBI Securities Corp. Continues STRONG BUY Rating on ORYX Technology Corp.
Author/s:
Issue: June 4, 1999
DENVER, June 4 /PRNewswire/ -- The following is being issued by EBI Securities Corp., a member of the National Association of Securities Dealers, CRD Number 16184:
EBI Securities Corp. research analyst Dave Lavigne issued a research report on ORYX Technology Corp. (Nasdaq: ORYX) reiterating his STRONG BUY rating on the stock.
Lavigne's reiteration of his STRONG BUY rating on ORYX is based on the release of the company's recent earnings, which Lavigne notes were essentially what he anticipated. In his report, he comments that the company has met several milestones causing him to update his model.
In August of 1998, Lavigne published a full report on ORYX with the stock trading at $0.78 per share with a BUY rating and a 12-18 month price target of $3.50 per share. A month later, he raised his rating to a STRONG BUY based on some manufacturing milestones, which he felt significantly changed the risk side of the equation. In January of this year, with the stock trading just under $2.00 per share, he raised his 12-18 month price target from $3.50 to $5.50 based on additional milestone coverage. Given that the previous price target is in excess of 150% higher than current levels, Lavigne notes that raising the target again seems redundant.
Lavigne's new model suggests the following EPS estimates going forward:
FY00 FY01 FY02 FY03
EPS ($0.10) $0.41 $0.65 $0.97
ORYX Technology Corp. is a Fremont, California developer and manufacturer of over-voltage surge protection technologies.
Information and statements contained herein, other than historical information, should be considered forward looking, which involve risk and uncertainties. EBI Securities Corp., its officers, directors and affiliates may maintain positions in the securities referenced which may change at any time without notice. EBI is a market maker in the common stock ORYX. The securities referenced are speculative in nature and may not be suitable for your investment objective. Additional information is available upon request. |
