Dsl.Net (AMEX:BIZ)
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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.