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Goamerica Inc (NASDAQ SC: GOAM) 0.49 +0.05 ( +12.53%) Data as of 3:10 PM ET 1/13/04
GoAmerica Receives Extension Through May 2004 of Temporary Exemption From Nasdaq's $1 Minimum Bid Price Listing Requirement
- PR Newswire
HACKENSACK, N.J., Jan 13, 2004 /PRNewswire-FirstCall via Comtex/ -- GoAmerica, Inc. today announced that it received a notice from the Nasdaq Listing Qualifications Panel extending until May 31, 2004 GoAmerica's temporary exemption from the $1.00 minimum closing bid price per share requirement for continued listing on The Nasdaq SmallCap Market (pursuant to Nasdaq's newly amended Marketplace Rule 4310(c)(8)(D) as approved by the Securities and Exchange Commission (the "SEC") on December 23, 2003).
In providing such additional time, the Nasdaq Listings Qualifications Panel noted that the Company is in compliance with all other Nasdaq listing requirements and that GoAmerica filed a preliminary proxy statement with the SEC on December 24, 2003, pursuant to which the Company will be seeking shareholder approval of, among other things, granting GoAmerica's Board of Directors the discretion to implement a reverse stock split if such action is required to maintain the Company's listing on the Nasdaq SmallCap Market.
The Company has not yet announced the date of a special meeting of stockholders to vote on the matters presented, although it is anticipated that the meeting will be held in mid-February. Stockholders of record as of the close of business on December 31, 2003 will be entitled to receive notice of and vote at such special stockholders meeting. A proxy statement will be mailed to stockholders of record prior to the special meeting.
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