(PR NEWSWIRE) DJ: Medix Resources Announces Delisting of Common Stock and
DJ: Medix Resources Announces Delisting of Common Stock and Cancellation of
Reverse Split
DENVER, July 15 /PRNewswire/ -- Medix Resources (OTC Bulletin Board: MDIX)
today announced that the Nasdaq Stock Market, Inc. had delisted the
Company's common stock from trading an the Nasdaq SmallCap Market, effective
the close of business on Wednesday, July 14, 1998, for failure to satisfy
the revised listing maintenance standards adopted by The Nasdaq Stock
Market, Inc. last year.
The Company's common stock will be immediately eligible to trade on the OTC
Bulletin Board. Information about the OTCBB can be found on the internet at
www.OTCBB.com. However, quotes for stock traded on the OTC Bulletin Board
are not published in major newspapers, and can only be found in specialized
publications or on the internet.
In light of such delisting, the Company determined that it would not be in
the best interests of its shareholders to complete the reverse stock split
that had been approved by its shareholders earlier, and the Board of
Directors exercised its authority to abandon the reverse stock split. The
reverse stock split was principally aimed at increasing the stock price to a
level that would meet the new Nasdaq standards.
Medix Resources, Inc. through its wholly owned subsidiary Cymedix Lynx
Corporation, offers several fully secure patent pending internet
communications products, using an internet commerce business model. The
Company's core business also provides skilled nursing, therapy,
rehabilitation and other medical personnel for flexible staffing in home
care, and in a broad spectrum of healthcare and educational facilities.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: The statements contained in this release which are not historical
facts contain forward-looking information with respect to plans, projections
and/or future performance of the Company, the occurrence of which involve
certain risks and uncertainties detailed in the Company's Form 1OK-SB for
1997 and Form 1O-QSB for its first quarter of 1998 that were filed with the
Securities and Exchange Commission on March 30, 1998 and May 12, 1998. Such
information is available from the SEC or from the Company.
/CONTACT: John P. Yeros of Medix Resources, Inc., 303-741-2045/
15:17 EDT
*** end of story ***
|
