Dsl.Net (AMEX:BIZ)
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DSL.net, Inc. (AMEX: BIZ), a leading nationwide provider
of broadband communications services to businesses, today reported
that it has been advised by staff of the American Stock Exchange
(AMEX) that it intends to suspend trading in the Company's common
stock effective as of the commencement of AMEX' trading session on
January 9, 2006. AMEX has further notified the Company that AMEX has
submitted an application to the Securities and Exchange Commission to
strike the Company's common stock from listing on AMEX effective as of
the opening of trading on January 10, 2006.
During the period of suspension, the Company's common stock is
eligible to be quoted immediately by market makers on The Pink Sheets,
according to that quotation system's staff advice. Further, the
Company believes its common stock is eligible for quotation on the OTC
Bulletin Board service (OTCBB), subject to a market maker establishing
a market in the Company's common stock on such quotation service under
applicable OTCBB rules. The Company has been advised by several market
makers that they intend to sponsor quotation of the Company's common
stock on OTCBB. On or promptly following suspension of trading on
AMEX, the NASDAQ will issue a new trading symbol for the Company's
common stock, which the Company will announce upon issuance.
AMEX' decision to suspend trading and pursue delisting is based on
its determination that the Company is not in compliance with Section
1003(f)(v) of the AMEX Company Guide due to the low selling price of
the Company's common stock, and the Company's decision to not effect a
requested reverse stock split to address such low selling price nor to
appeal AMEX' determinations, as previously reported. The last day of
trading of the Company's common stock on AMEX prior to the suspension
going into effect will be Friday, January 6, 2006.
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, these risks and uncertainties include,
among other things, (i) the resulting effects of AMEX' suspension of
trading in the Company's common stock and AMEX' application to de-list
the Company's common stock from its exchange; (ii) the possibility
that no market maker will sponsor or be authorized to sponsor the
Company's OTCBB quotation; and (iii) the timing and initial and
continued availability of alternative trading markets for the
Company'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.