Tiers Principal-Protected Trust (AMEX:THN)
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From May 2019 to May 2024
ThinkEngine Networks, Inc. (AMEX: THN), today announced that on May 22,
2007 it received notice from the American Stock Exchange (“AMEX”
or “Exchange”)
indicating that the Company is below certain of the Exchange’s
continued listing standards, as set forth in Section 1003 (a) (iii) of
the AMEX Company Guide, in that the Company, as of March 31, 2007, had
Stockholders’ Equity of less than $6,000,000
and also had sustained losses from continuing operations and/or net
losses in its five most recent fiscal years.
In accordance with AMEX rules, by June 21, 2007 the Company will submit
a plan for review by the Exchange to demonstrate the Company’s
ability to regain compliance by November 21, 2008. If the plan is
accepted, the Company may be able to continue its listing during the
plan period subject to periodic review to determine that progress is
consistent with the plan. If the Company’s
plan is not accepted by the Exchange, the Company will be subject to
delisting procedures as set forth in the AMEX Company Guide.
Pending a decision by the AMEX listing qualifications staff, the Company
will remain listed on AMEX.
About ThinkEngine Networks
ThinkEngine Networks is a leading provider of TDM and IP capable
conferencing bridges and media servers. The VSR1000 includes both TDM
and IP interfaces as standard equipment and is capable of processing 968
simultaneous sessions in a compact 1U platform. The NEBS 3 certified
platform has been deployed by customers to implement reservationless
conferencing, prepaid calling, and IVR applications. The Company's CX
Series - Exchange Network Media Servers are a cost-effective and highly
scalable family of carrier-class media server platforms. They deliver
advanced network media solutions in VoIP networks as well as in
traditional AIN and TDM circuit switched and mixed network environments.
ThinkEngine is a disruptive force in the marketplace –
drastically reducing the cost of implementation while giving customers a
migration path from TDM to VoIP. For more information about the Company,
visit http://www.thinkengine.com.
Safe Harbor Statement
This news release contains forward-looking statements that involve
risks, uncertainties and assumptions. All statements contained
herein which are not historical facts are forward-looking statements.
The forward-looking statements in this release are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements are subject to risks
and uncertainties, which could cause actual results to differ materially
from those anticipated. Such risks and uncertainties include, but
are not limited to, the continuance of reduced capital expenditures
throughout the telecommunications market, variability of sales volume
from quarter to quarter, product demand, market acceptance, litigation,
dependence on significant customers, third party suppliers and
intellectual property rights, risks in product and technology
development and other risk factors detailed in the company's most recent
Form 10-K, and other subsequent Securities and Exchange Commission
filings. ThinkEngine Networks does not undertake any duty to
update forward-looking statements.