Proshares Ultrashort Telecommunications (AMEX:TLL)
Historical Stock Chart
From Jul 2019 to Jul 2024
Teletouch Communications, Inc. (AMEX:TLL) announced
today that it received a notice from the American Stock Exchange
("AMEX") on September 26, 2005 advising the Company that the AMEX had
accepted the Company's plan of compliance submitted on September 20,
2005. The Company's securities will remain listed throughout the
compliance plan period, subject to periodic reviews of the Company's
progress by AMEX
In accordance with the plan submitted, the Company intends to
regain compliance with all continued listing requirements by no later
than November 28, 2005. The listing extension was granted on the
condition that the Company regain its compliance with all AMEX
continued listing standards by the foregoing deadline, including the
filing of the Annual Report in question, as further described below.
As previously announced, the Annual Report on Form 10-K for the
period ended May 31, 2005, has not been filed with the SEC due to
certain restatements of the Company's Consolidated Statement of
Operations for the years ended May 31, 2002 and 2003 and its
Consolidated Balance Sheet as of May 31, 2002 and 2003. The Company
further stated that it appeared that there would be no impact on the
Company's results of operations, financial position or cash flows for
the years ended May 31, 2004 and 2005, respectively. As a result, the
Company is not in compliance with Sections 134 and 1101 of the AMEX
Company Guide.
The Company is and has been devoting substantial efforts to
complete and file the Annual Report in question. However, there is no
assurance that the Company will be able to implement its plan of
compliance. If it is unable to do so, the Company's securities could
be de-listed from the AMEX and may continue to be quoted in the Pink
Sheets. The Company may also seek quotation of its securities on the
OTC Bulletin Board when it regains currency in the public reporting.
Readers of this press release are urged to read carefully the
Company's public announcements and regulatory filings with the
Securities and Exchange Commission, including press releases and
Current Reports on Form 8-K filed with the Securities and Exchange
Commission.
About Teletouch
Teletouch Communications, Inc., a U.S. leader in wireless
messaging and related network management, provides GPS-based mobile
asset tracking for fleets, hazardous materials and "worker-down"
emergency notification applications. Teletouch also provides two-way
radio communications and cellular services. Teletouch's common stock
is traded on the American Stock Exchange under stock symbol: TLL.
Additional product, business and financial information for Teletouch
is available at www.Teletouch.com.
All statements in this news release that are not based on
historical fact are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995 and the
provisions of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended
(which Sections were adopted as part of the Private Securities
Litigation Reform Act of 1995). While management has based any
forward-looking statements contained herein on its current
expectations, the information on which such expectations were based
may change. These forward-looking statements rely on a number of
assumptions concerning future events and are subject to a number of
risks, uncertainties, and other factors, many of which are outside of
our control, that could cause actual results to materially differ from
such statements. Such risks, uncertainties, and other factors include,
but are not necessarily limited to, those set forth under the caption
"Additional Factors That May Affect Our Business" in the Company's
most recent Form 10-K and 10-Q filings. In addition, we operate in a
highly competitive and rapidly changing environment, and new risks may
arise. Accordingly, investors should not place any reliance on
forward-looking statements as a prediction of actual results. We
disclaim any intention to, and undertake no obligation to, update or
revise any forward-looking statement.