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Non-Tech : LL Knickerbocker(KNIC)/Pure Energy Corp -- Ignore unavailable to you. Want to Upgrade?

To: trendy who wrote (1020)	8/25/1999 12:22:00 PM
From: mwh	Read Replies (1) \| Respond to of 1028

This doesn't look too good for now! he L. L. Knickerbocker Co. Inc. Announces Delisting From Nasdaq <KNIC.O> The L. L. Knickerbocker Co. Inc. Announces Delisting From Nasdaq National Market and Involuntary Petition in Bankruptcy Filing LAKE FOREST, Calif., Aug. 25 /PRNewswire/ -- The L. L. Knickerbocker Co., Inc. (Nasdaq: KNIC) announced today that the Company has received notification from the Nasdaq Listing Qualifications Panel that the Company's common stock has been delisted from the Nasdaq National Market effective with the close of business on August 24, 1999. The Nasdaq Listing and Hearing Review Council may, on its own motion, determine to review the Panel's decision within 45 calendar days after the issuance of the decision. If the Review Council determines to review the Panel's decision, it may affirm, modify, reverse, dismiss or remand the decision to the Panel. Within 15 days of the Panel's decision, the Company also may request that the Review Council review the Panel's decision. The Review Council's review of the Panel's decision will not operate as a stay of the decision. Although the Company's common stock will be delisted from the Nasdaq National Market, to the extent market makers in the Company's stock continue to enter bids, the Company's common stock will be quoted in the OTC Bulletin Board or, in the alternative, in the National Quotation Bureau's Pink Sheets. However, there is no assurance that this will occur. The Company also reported that it has been informed that an involuntary petition in bankruptcy has been filed against the Company by three of its Asian creditors. The Company currently is evaluating its options in responding to the petition, which include opposing the petition. The Company has been and will continue to attempt to restructure its obligations out of court. The L. L. Knickerbocker Co., Inc. sells collectible gifts and toy-related merchandise, primarily porcelain and vinyl dolls and teddy bears. The Company also designs, manufactures and markets fashion jewelry and accessories, in addition to offering an extensive line of fine jewelry products and supplying other jewelry manufacturers with loose cut stones. The Company's products are sold through diverse international distribution channels, including its own web sites, television shopping outlets, direct response sales and wholesale sales to retailers. The Company also holds a substantial equity interest in Pure Energy Corporation, a privately held company, and in Ontro, Inc., a publicly held company. For more information, visit the Company's website at www.knickerbocker.com. This press release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors affecting the Company's operations, markets, products, services and prices, and other factors. The Company's actual results could differ materially from those projected in the forward-looking statements as a result of the factors described herein. SOURCE L. L. Knickerbocker Co., Inc. -0- 08/25/99 /CONTACT: Louis L. Knickerbocker of The L. L. Knickerbocker Co., 949-595-7900; or Fran Daniels of Financial Sciences of America, for The L. L. Knickerbocker Co., 310-278-4413/ /Web site: knickerbocker.com -- LAW037 -- 5751 08/25/99 02:46 EDT prnewswire.com Copyright PR Newswire 1998. All rights reserved.