Intrusion (NASDAQ:INTZC)
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Intrusion Inc. Stockholders Approve Reverse Stock Split
RICHARDSON, Texas, March 19 /PRNewswire-FirstCall/ -- Intrusion Inc. ,
("Intrusion") today announced that at a special meeting held on March 18, 2004,
Intrusion stockholders approved an amendment to Intrusion's certificate of
incorporation to effect a four-for-one (4:1) reverse stock split of Intrusion
common stock. The reverse split will become effective as of the opening of
business on March 29, 2004. At that time, the trading symbol of Intrusion stock
will become "INTZCD" for a period of 20 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 listing requirements currently and in the
future, whether the reverse stock split will have the desired consequences and
our ability to raise additional capital, 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, CFO
972.301.3658,
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/