Projectavision Receives Temporary Exemption from Nasdaq SmallCap Stock Market Listing Requirements
PR Newswire, Wednesday, November 11, 1998 at 17:28
NEW YORK, Nov. 11 /PRNewswire/ -- Projectavision, Inc. (NASDAQ:PJTV)
announced today that its common stock will continue to be listed on the Nasdaq
SmallCap Market, having received a temporary exception from the minimum bid
price requirement.
While the Company has failed to meet the $1 minimum bid price requirement
since May 25, 1998, the Company was granted a temporary exception by The
Nasdaq Stock Market from this standard, subject to the Company meeting certain
conditions. This exception will expire on December 22, 1998. In the event the
Company is deemed to have met the terms of the exception prior thereto, it
shall continue to be listed on The Nasdaq SmallCap Stock Market. The Company
believes that it can meet these conditions, however, there can be no assurance
that it will do so. In the event that at some future date the Company's
securities should cease to be listed on The Nasdaq SmallCap Market, they may
continue to be listed on the OTC-Bulletin Board. For the duration of the
exception, commencing on November 13, 1998, the Company's Nasdaq symbol will
be PJTVC.
The foregoing press release contains forward-looking statements, including
statements regarding, among other things, the company's expectation of its
future business. These forward-looking statements are based largely on the
Company's expectations and subject to a number of risks and uncertainties,
certain of which are beyond the Company's control. Actual results could differ
materially from these forward-looking statements as a result of a variety of
factors including, among others, the satisfaction of all terms and conditions
necessary to come into compliance with the $1.00 minimum bid requirement,
including but not limited to obtaining stockholder approval to effect a
reverse split of the Company's common stock and completing the acquisition of
Vidikron Industries, S.p.A. In light of these risks and uncertainties there
can be no assurance that the forward-looking statements contained in this
press release will in fact transpire or prove to be accurate.
SOURCE Projectavision, Inc.
-0- 11/11/98
/CONTACT: Media - Alex Stanton of Stanton-Crenshaw, 212-780-1900,
alex@stantoncrenshaw.com; or Institutional Investor Relations - Frank Hawkins
of Hawk Associates, 305-852-2383, Fhawk@hawkassociates.com/
/Web site: hawkassociates.com
Companies or Securities discussed in this article:
Symbol
Name
NASDAQ:PJTV
Projectavision Inc |
