DSL.net Receives AMEX Notice Regarding Listing
October 14 2005 - 3:46PM
Business Wire
DSL.net, Inc. (AMEX: BIZ), a leading nationwide provider of
broadband communications services to businesses, today announced
that it received a letter from the American Stock Exchange (AMEX)
indicating that the Company's common stock may not be suitable for
continued trading on the AMEX due to its low selling price over the
last six months. In the letter, the Company also was advised under
Section 1003(f)(v) of the AMEX Company Guide that AMEX deems it
appropriate for the Company to effect a reverse split of its shares
of common stock "within a reasonable amount of time" to address the
low selling price of its common stock. If the Company does not
effect a reverse stock split within a reasonable amount of time,
AMEX may determine that the Company is not in compliance with
Section 1003(f)(v) of the AMEX Company Guide, in which case the
Company would then become subject to AMEX de-listing procedures.
DSL.net is currently evaluating various alternatives in response to
the AMEX letter. Beginning on or about October 18, 2005, the
Company will be included in a list of issuers, which is posted
daily on the AMEX Website, that are not in compliance with AMEX's
continued listing standards, and ".BC" will be appended to the
Company's ticker symbol whenever the Company's trading symbol is
transmitted with a quotation or trade. The Website posting and
indicator will remain in effect until the Company has regained
compliance with applicable continued listing standards. About
DSL.net DSL.net, Inc. is a leading nationwide provider of broadband
communications services to businesses. The Company combines its own
facilities, nationwide network infrastructure and Internet Service
Provider (ISP) capabilities to provide high-speed Internet access,
private network solutions and value-added services directly to
small- and medium-sized businesses or larger enterprises looking to
connect multiple locations. DSL.net product offerings include T-1,
DS-3 and business-class DSL services, virtual private networks
(VPNs), frame relay, Web hosting, DNS management, enhanced e-mail,
online data backup and recovery services, firewalls and nationwide
dial-up services, as well as integrated voice and data offerings in
select markets. For more information, visit www.dsl.net, e-mail
info@dsl.net, or call 1-877-DSL-NET1 (1-877-375-6381). This press
release may contain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
and, to the extent it does, these forward-looking statements are
subject to a variety of risks and uncertainties, many of which are
beyond DSL.net's control, which could cause actual results to
differ materially from those contemplated in these forward-looking
statements. In particular, the risks and uncertainties associated
with DSL.net's business include, among other things, (i)
fluctuations in DSL.net's quarterly operating results, which could
adversely affect the price of its common stock; (ii) DSL.net's
ability to raise sufficient additional capital on acceptable terms,
or at all, to finance continuing operations; (iii) DSL.net's
failure to generate sufficient revenue, contain certain
discretionary spending, achieve certain other business plan
objectives, or obtain additional debt or equity financing could
have a material adverse effect on DSL.net's results of operations
or financial position, or cause it to restructure its operations to
further reduce operating costs or to cease operations or to sell
all or a portion of DSL.net's assets; and (iv) DSL.net's ability to
maintain compliance with the American Stock Exchange's continuing
listing requirements (including without limitation those relating
to its financial condition and operating results), which failure
could adversely impact the pricing and trading of DSL.net's common
stock. Existing and prospective investors are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date hereof. DSL.net undertakes no obligation,
and disclaims any obligation, to update or revise the information
contained in this press release, whether as a result of new
information, future events or circumstances or otherwise. For
additional information regarding these and other risks faced by
DSL.net, see the disclosure contained under "Risk Factors'' in
DSL.net's Annual Report on Form 10-K for the year ended December
31, 2004, which has been filed with the Securities and Exchange
Commission. DSL.net is a trademark of DSL.net, Inc. Other company
names may be trademarks of their respective owners.
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