Apogee Common Stock Listing Transition
December 28 2007 - 9:20AM
Marketwired
NORWOOD, MA (the "Company") will trade on the Pink Sheets� under
the Stock symbol ATA.PK effective December 31, 2007. The shares
will cease trading on the American Stock Exchange after the close
of trading today, Friday, December 28, 2007. The Company has
initiated the process for its shares to be quoted on the
Over-the-Counter Bulletin Board� ("OTCBB") and will announce the
transition when completed.
Herbert Stein, Apogee's Chairman and CEO, said, "We were pleased
with our experience on the American Stock Exchange. However, we
believe that raising sufficient equity funds, at this time, to meet
the Amex shareholder equity listing requirements exceeds our near
term capital needs and would result in unnecessary dilution. Our
planned transition to the Pink Sheets and then the OTCBB will
provide liquidity and marketability for our stock while allowing us
to execute a funding strategy that we believe will better serve our
business and shareholders' interests."
About Apogee Technology, Inc.
Apogee Technology, Inc. is a biotechnology company developing
proprietary systems for the delivery of pharmaceutical agents into
the skin for the treatment and prevention of local and systemic
conditions. The Company's PyraDerm(TM) delivery system incorporates
structured solid-state formulations designed to penetrate the outer
layer of the skin and then release the agent in a controlled
manner. The Company is also developing and commercializing sensors
and sensor systems with a specialized focus on health monitoring
systems. For more information please visit our web site at:
http://www.apogeebio.com.
PyraDerm(TM), Sensilica� and IntellaPAL(TM) are trademarks of
Apogee Technology, Inc. All other product names noted herein may be
trademarks of their respective holders.
Certain statements made herein that use the words "anticipate,"
"may," "hope," "estimate," "project," "will," "intend," "plan,"
"expect," "believe" and similar expressions are intended to
identify forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve those oriented to the Company's
continued trading status, capital raising transactions and its
interaction with future quotation or listing services in addition
to those related to the design, development and production efforts
of our PyraDerm(TM), Sensilica� and IntellaPAL(TM) technologies,
known and unknown risks and uncertainties, which could cause the
actual results, performance or achievements of the Company to be
materially different from those that may be expressed or implied.
Please refer to the company's risk factors as set forth in the
Company's filings with the Securities and Exchange Commission,
including its report on Form 10-KSB, as amended, for the year ended
December 31, 2006 and its quarterly reports on Form 10-QSB, for the
quarters ended March 31, 2007, June 30, 2007 and September 30,
2007.
Apogee Investor Contact: Paul J. Murphy Chief Financial Officer
and Vice President of Finance Telephone: (781) 551-9450 Apogee
Technology, Inc. 129 Morgan Drive Norwood, MA 02062 voice: (781)
551-9450 fax: (781) 440-9528 email: Email Contact
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