Xfone (NASDAQ:XFNE)
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XFONE, Inc. to Be Listed on The American Stock Exchange
Company to Initiate Trading Under "XFN" Effective June 8, 2005
LONDON, June 3 /PRNewswire-FirstCall/ -- XFONE, Inc. (OTC: XFNE) (BULLETIN
BOARD: XFNE) , a provider of international voice and data communications
services, today announced that its common stock will commence trading on the
American Stock Exchange effective June 8, 2005 under the trading symbol "XFN".
The Company was approved for listing on the American Stock Exchange based upon
a review by an Exchange Listing Qualifications Panel, which authorized approval
of the listing pursuant to Section 1203(c)(i)(A) of the Amex Company Guide,
notwithstanding the fact that XFONE does not fully satisfy the Exchange's
regular initial listing standards with respect to earning pre-tax income from
continuing operations of at least $750,000 in its last fiscal year, or in two
of its last three fiscal years. The Panel's decision was based upon its
determination that the Company satisfies the minimum Alternative Listing
Standards and its affirmative finding that mitigating factors warrant listing
pursuant to the Alternative Listing Standards.
Specifically, the Panel noted the Company's consistent long term history of
operations and growth, its sound and conservative management and the
likelihood, based on the Company's plans for this year (including, in
particular, the development of its Israeli operations) that the Company would
meet the initial listing standards in Section 101 of the Amex Company Guide.
This approval is contingent upon the Company being in compliance with all
applicable listing standards on the date it begins trading on the Exchange, and
may be rescinded if the Company is not in compliance with such standards.
"This marks yet another significant milestone for XFONE. Being welcomed onto
the American Stock Exchange is a significant step forward in the full
implementation of our business strategy and should help to attract additional
institutional and retail interest in our Company and stock," stated Guy
Nissenson, Chief Executive Officer of XFONE.
About XFONE, Inc.
A U.S.-domiciled corporation, XFONE, Inc. is an international voice and data
communications services provider with operations in the United Kingdom, the
United States and Israel that offers a wide range of services, which include:
local, long distance and international telephone services; prepaid and postpaid
calling cards; cellular services; VoIP services; reselling opportunities; and
email and fax broadcasting services. The Company serves customers in 75
countries across Europe, Australia, North America, South America, Asia and
Africa.
This press release contains forward-looking statements. The words or phrases
"should," "would be," "will allow," "intends to," "will likely result," "are
expected to," "will continue," "is anticipated," "estimate," "project," or
similar expressions are intended to identify "forward-looking statements." The
Company's financial results reflected above should not be construed by any
means as representative of the current or future value of its common stock. All
information set forth in this press release, except historical and factual
information, represents forward-looking statements. This includes all
statements about the company's plans, beliefs, estimates and expectations.
These statements are based on current estimates and projections, which involve
certain risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. These risks and
uncertainties include issues related to rapidly changing technology and
evolving standards in the industries in which the Company and its subsidiaries
operate; the ability to obtain sufficient funding to continue operations,
maintain adequate cash flow, profitably exploit new business, and license and
sign new agreements; the unpredictable nature of consumer preferences; and
other factors set forth in the Company's most recently filed annual report and
registration statement. Readers are cautioned not to place undue reliance on
these forward-looking statements, which reflect management's analysis only as
of the date hereof. The Company undertakes no obligation to publicly revise
these forward-looking statements to reflect events or circumstances that arise
after the date hereof. Readers should carefully review the risks and
uncertainties described in other documents that the Company files from time to
time with the Securities and Exchange Commission.
Elite Financial Communications Group
Stephanie Noiseux, 407-585-1080
DATASOURCE: XFONE, Inc.
CONTACT: Stephanie Noiseux of Elite Financial Communications Group,
+1-407-585-1080, , for XFONE, Inc.
Web site: http://www.xfone.com/