American Locker Group Incorporated Has Oral Hearing with NASDAQ Listing Qualifications Panel
31 Mai 2005 - 8:37PM
Business Wire
American Locker Group Incorporated (NASDAQ:ALGIE) announced that an
oral hearing was held with a NASDAQ Listing Qualifications Panel on
May 26, 2005 to appeal NASDAQ's decision to delist the Company's
common stock. In addition to the issues raised in the previously
announced April 19, 2005 notice of noncompliance relating to the
Company's Annual Report on Form 10-K for its fiscal year ended
December 31, 2004, the hearing also encompassed matters related to
the notice from The NASDAQ Stock Market received by the Company on
May 24, 2005. The May 24, 2005 notice stated that the Company is
not in compliance with NASDAQ's requirements for continued listing
set forth in NASDAQ Marketplace Rule 4310(c)(14) as a result of the
Company's failure to file with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q for its fiscal quarter
ended March 31, 2005. The Company is working diligently to file its
Annual Report on Form 10-K and Quarterly Report on Form 10-Q as
soon as possible, but there can be no assurance that the Company
will be able to avoid delisting. Safe Harbor Statement under the
Private Securities Litigation Reform Act Of 1995 Except for
historical information contained in this press release, the matters
discussed herein which contain forward-looking statements,
including without limitation, statements relating to the Company's
plans, strategies, objectives, expectations, intentions and
adequacy of resources, are made pursuant to the Safe Harbor
Provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements
involve risks and uncertainties including without limitation the
following: (i) the Company's plans, strategies, objectives,
expectations, and intentions are subject to change at any time at
the discretion of the Company, (ii) the Company's plans and results
of operations will be affected by the Company's ability to manage
its growth and inventory, and (iii) other risks and uncertainties
indicated from time to time in the Company's filings with the
Securities and Exchange Commission.
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