Safety First Trust Principal-Protected Certificates Linked TO A U.S.-Europe-Japan Basket (AMEX:ATA)
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Apogee Technology, Inc. (AMEX: ATA), a global provider of
integrated circuits and an emerging Micro-Electromechanical Systems
("MEMS") supplier, announced today that the Company's revised plan to
regain compliance with the listing standards of the American Stock
Exchange (AMEX) by July 31, 2005 has been accepted by the AMEX. The
Company originally became non-compliant with these listing standards
as a result of its failure to file with the Securities and Exchange
Commission (the "SEC") an Annual Report on Form 10-KSB for the fiscal
year ended December 31, 2004 including audited financial statements.
As a result of the Company's submission to the AMEX of a revised
plan for regaining compliance with the AMEX requirements with respect
to its Annual Report on Form 10-KSB and its Quarterly Report on Form
10-QSB, AMEX determined that, although Apogee is not in compliance
with its continued listing standards relating to SEC filings, it would
continue to list Apogee's common stock pursuant to an extension, with
a targeted date for completing the outstanding SEC filings and
regaining compliance by July 31, 2005.
The Company is working diligently with its new independent
registered public accountants, Miller Wachman LLP, in order to be able
to complete the necessary audits of its financial statements for the
fiscal years ended December 31, 2003 and December 31, 2004 and to file
its Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB,
for the three month period ending March 31, 2005, within the time
period required by the AMEX. Apogee will be subject to periodic review
by AMEX during this period to determine whether it is making progress
consistent with the plan. Failure to make progress consistent with the
plan or to regain compliance with the continued listing standards by
the end of the extension period could result in the Company being
delisted from the American Stock Exchange.
About Apogee Technology, Inc.
Apogee Technology is a fabless semiconductor company that designs,
develops and markets silicon based products that incorporate
proprietary technologies. The Company's patented all-digital, high
efficiency Direct Digital Amplification (DDX(R)) ICs have been used by
over 20 major consumer electronic brands in a wide range of audio
products. The company is developing new System-on-Chip (SOC) products
using its analog and digital circuit designs and
Micro-Electromechanical Systems (MEMS) technology for the consumer,
automotive, communications and medical markets. The Company operates a
worldwide marketing and sales organization and has offices in the US,
Hong Kong and Japan. For more information please visit our web site
at: http://www.apogeeddx.com.
DDX(R) is a registered trademark 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", "hope", "estimate", "project", "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 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 reports on Forms 10-KSB and 10-QSB.