ATC Healthcare Announces Receipt of Correspondence from AMEX
March 14 2008 - 1:44PM
Business Wire
ATC Healthcare, Inc. (AMEX:AHN), a leader in medical staffing,
announced today that it received a letter on March 10, 2008 from
the American Stock Exchange indicating AMEX�s intent to strike
ATC�s common stock from the AMEX by filing a delisting application
with the Securities and Exchange Commission pursuant to Section
1009(d) of the Amex Company Guide. The AMEX believes ATC has failed
to make progress consistent with the plan of compliance previously
submitted to and accepted by AMEX and, as a consequence, the plan
no longer presents a reasonable basis of ATC�s ability to regain
compliance. In particular, the AMEX cited ATC�s failure to comply
with Sections 134 and 1101 of AMEX Company Guide due to its failure
to file its Quarterly Reports on Form 10-Q for the quarters ended
August 31, 2007 and November 30, 2007. In addition, AMEX stated
that ATC�s failure to publicly report information concerning its
financial position or results limits AMEX�s ability to evaluate
ATC�s progress towards compliance with Section 1003(a)(iii) of the
AMEX Company Guide. Moreover, AMEX stated, ATC is not in compliance
with Section 1003(f)(v) of the AMEX Company Guide because the
Company�s common stock has been trading for a substantial period of
time at prices per share ranging over the past six months between
$.09 and $.28 per share. ATC has determined not to request a
hearing and to accept AMEX�s delisting determination. The Company
intends to trade on the Pink Sheets until it becomes current in its
filing with the Securities and Exchange Commission, at which time
it expects to commence trading on the Over-the-Counter Bulletin
Board. About ATC Healthcare, Inc. ATC is a national leader in
medical staffing personnel to hospitals, nursing homes, clinics and
other healthcare facilities with 47 locations in 25 states. ATC
provides supplemental staffing, outsourcing and human resource
solutions to hospitals, nursing homes, medical and research
facilities and industry. Drawing from a pool of over 15,000
healthcare professionals spanning more than 50 specialties, the
company supplies both clinical and non-clinical personnel for
short-term, long-term, and �traveling� contract assignments. To
learn more about the company�s services, visit their website at
www.atchealthcare.com. Forward Looking Statements Certain
statements contained in this release that are not statements of
historical facts are �forward-looking statements� within the
meaning of the Private Securities Litigation Reform Act of 1995.
The words � �believe�, �expect�, �anticipate�, �intend�, �will�,
and similar expressions are examples of words that identify
forward-looking statements. Forward-looking statements include,
without limitation, statements regarding our future financial
position, timing of future revenue, business strategy and cost
savings. These forward-looking statements are based on our current
beliefs, as well as assumptions we have made based upon information
currently available to us. These forward-looking statements may be
affected by the risks and uncertainties in our business and are
qualified in their entirety by the cautionary statements and risk
factor disclosure contained in our filings with the Securities and
Exchange Commission, including our annual report on Form 10-K for
the year ended February 28, 2007. We do not assume, and expressly
disclaim, any obligation to update these forward-looking
statements.
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