Intrusion (NASDAQ:INTZC)
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Intrusion Inc. Announces Effective Date of Reverse Stock Split
RICHARDSON, Texas, March 26 /PRNewswire-FirstCall/ -- Intrusion Inc. ,
("Intrusion") today announced that the four-for-one (4:1) reverse stock split of
Intrusion common stock approved ata special meeting held on March 18, 2004,
will become effective as of the opening of business on March 29, 2004. At that
time, the trading symbol of Intrusion stock will become "INZCD" for a period of
20 trading days, after which it will return to "INTZC" until Nasdaq informs
Intrusion that it has satisfied the requirements of its conditional listing
exception.
On January 30, 2004 Intrusion announced that its common stock would continue to
be listed on The Nasdaq SmallCap market via an exception from the $1.00 minimum
bid price requirement granted by a Nasdaq Listing Qualifications Panel. While
Intrusion failed to meet this requirement as of November 5, 2003, the Company
was granted a temporary exception from this standard subject to Intrusion
meeting certain conditions, including the completion of the reverse stock
split.
In the event the Company is deemed to have met the terms of the exception, it
shall continue to be listed on The Nasdaq SmallCap Market. The Company believes
that it can meet these conditions, however, there can be no assurance that it
will do so. If at some future date the Company's securities should cease to be
listed on The Nasdaq SmallCap Market, they may continue to be listed in the OTC
Bulletin Board.
About Intrusion Inc.
Intrusion Inc. is a leading global provider of the Intrusion SecureNet(TM) line
of leading network intrusion prevention, intrusion detection and regulated
information compliance products, as well as deployment technologies and security
services for the information-driven economy. The Intrusion SecureNet(TM) family
of network security products for governments and enterprises help protect
critical information assets by quickly detecting, analyzing and responding to
attacks and the misuse of classified and regulated information. Associated
Intrusion SecureNet(TM) Intrusion Detection(R) services provide unique value to
governments and enterprises in protecting information assets. For more
information, please visit http://www.intrusion.com/.
This release, other than historical information, may include forward- looking
statements regarding future events or our future performance, including, without
limitation, statements relating to our ability to regain compliance with the
continued listing requirements of The Nasdaq SmallCap Market. These statements
are made under the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995 and involve risks and uncertainties which could cause actual
results to differ materially from those in the forward looking statements,
including, without limitation, our ability to meet the conditions for continued
listing on The Nasdaq SmallCap Market within the specified times, our ability to
comply with all Nasdaq's continued listingrequirements currently and in the
future, whether the reverse stock split will have the desired consequences, as
well as other risks and uncertainties identified in our Annual Report on Form
10-K, our Definitive Proxy Statement on Schedule 14A filed with the SEC on
February 12, 2004 and other filings with the SEC. Copies of these filings can
be obtained from our Investor Relations department.
Financial Contact
Michael L. Paxton, VP, CFO972.301.3658,
Media Contact
Ryon Packer, VP
972.664.8072,
http://www.newscom.com/cgi-bin/prnh/20030703/INTRUSIONLOGO
http://photoarchive.ap.org/
DATASOURCE: Intrusion Inc.
CONTACT: financial, Michael L. Paxton, VP, CFO, +1-972-301-3658, or
, or media, Ryon Packer, VP, +1-972-664-8072, or
, both of Intrusion Inc.
Web site: http://www.intrusion.com/