GoAmerica Receives Temporary Exception to Nasdaq's $1 Minimum Bid Price Listing Requirement and Sets Date for Its Annual Meeting
October 27 2003 - 2:30PM
PR Newswire (US)
GoAmerica Receives Temporary Exception to Nasdaq's $1 Minimum Bid
Price Listing Requirement and Sets Date for Its Annual Meeting of
Stockholders HACKENSACK, N.J., Oct. 27 /PRNewswire-FirstCall/ --
GoAmerica, Inc. , a developer and distributor of wireless data
technology, today announced that it recently received a Nasdaq
Listing Qualifications Panel Determination granting GoAmerica a
temporary exception to the $1.00 minimum closing bid price per
share requirement for continued listing on The Nasdaq SmallCap
Market (as required by Nasdaq's Marketplace Rule 4310(c)(4))
through at least December 1, 2003. As previously announced,
GoAmerica had appealed a late August 2003 Nasdaq Staff
Determination that the Company's common stock be delisted for
failure to satisfy the minimum bid price. The Nasdaq Listings
Qualifications Panel provided such additional time for compliance
by GoAmerica with Marketplace Rule 4310(c)(4) because GoAmerica is
in compliance with all other Nasdaq listing requirements, and to
allow for further developments in the Securities and Exchange
Commission's rule-making process with respect to Nasdaq's proposal
to change its minimum bid price rules. Nasdaq recently proposed
certain modifications to its minimum bid price requirements, which
modifications if adopted would provide GoAmerica with additional
time to comply with the minimum bid price requirement. GoAmerica
also announced today that its annual stockholders meeting will be
held on December 19, 2003 at a time and location to be determined.
The close of business on November 7, 2003 has been established by
GoAmerica as the record date for determination of GoAmerica
stockholders entitled to receive notice of and vote at the
GoAmerica annual stockholders meeting. A proxy statement, together
with GoAmerica's Annual Report on Form 10-K, will be mailed to
stockholders of record prior to the annual meeting. About GoAmerica
GoAmerica, Inc. is a developer of wireless data technology based in
Hackensack, NJ that licenses its proprietary Go.Web(TM) technology
to enterprises and individuals, providing mobile professionals with
remote access to corporate databases and intranets, email and the
Internet across a wide variety of mobile computing and wireless
network devices. Through its wholly-owned subsidiary, Wynd
Communications Corporation, the Company provides wireless
telecommunications services for people with hearing loss. Wynd
Communications is a winner of the California Governor's Award for
Excellence in Universal Design and Technology and has been
recognized by both the Clinton and Bush Administrations for its
commitment to Americans with disabilities. For more information on
Go.Web, call 888-462-4600 or visit http://www.goamerica.net/. For
more information about Wynd services, visit http://www.wynd.com/,
or contact Wynd directly at TTY 800-549-2800, voice 805-781-6000 or
e-mail: . The statements contained in this news release that are
not based on historical fact are "forward-looking statements"
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended. Forward-looking statements may be identified by
the use of forward-looking terminology such as "may", "will",
"expect", "estimate", "anticipate", "continue", or similar terms,
variations of such terms or the negative of those terms. Such
forward-looking statements involve risks and uncertainties,
including, but not limited to: (i) our limited operating history;
(ii) our reduced capital resources and need for additional
liquidity; (iii) our ability to fund our operating needs through
available cash reserves; (iv) the impact on our business from our
receiving a "going concern" opinion from our independent auditors;
(v) our ability to successfully implement our strategic alliance
with EarthLink; (vi) our dependence on EarthLink to provide
billing, customer and technical support to our subscribers; (vii)
our ability to consummate our proposed divestiture of our Go.Web
assets promptly and on a satisfactory basis, (viii) our ability to
respond to the rapid technological change of the wireless data
industry and offer new services; (ix) our dependence on wireless
carrier networks; (x) our ability to respond to increased
competition in the wireless data industry; (xi) our ability to
integrate acquired businesses and technologies; (xii) our ability
to leverage strategic alliances to generate revenue growth; (xiii)
our ability to increase or maintain gross margins, profitability,
liquidity and capital resources; and (xiv) our ability to manage
our remaining operations. Such risks and others are more fully
described in the Risk Factors set forth in our filings with the
Securities and Exchange Commission. Our actual results could differ
materially from the results expressed in, or implied by, such
forward-looking statements. Each reference in this news release to
"GoAmerica", the "Company" or "We", or any variation thereof, is a
reference to GoAmerica, Inc. and its subsidiaries. "GoAmerica",
"Go.Web", "Go.Web Enterprise Server", "Mobile Office", and "OnPrem"
are trademarks or service marks of GoAmerica, Inc. "WyndTell",
"Deafwireless", and "Deafwireless Superstore" are trademarks or
service marks of Wynd Communications Corporation. Other names may
be trademarks of their respective owners. DATASOURCE: GoAmerica,
Inc. CONTACT: GoAmerica, Inc. Investor Relations, +1-201-996-1717
or Web site: http://www.goamerica.net/ http://www.wynd.com/
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