Goamerica (NASDAQ:GOAMC)
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GoAmerica Receives Temporary Exception to Nasdaq's $1 Minimum Bid
Price Listing Requirement
Trading Symbol Changed During Conditional Listing
HACKENSACK, N.J., Aug. 19 /PRNewswire-FirstCall/ -- GoAmerica, Inc. (Nasdaq:
GOAM; GOAMC) today announced that it has received a Nasdaq Listing
Qualifications Panel Determination granting GoAmerica a temporary exception to
the $1.00 minimum closing bid price per share requirement for continued listing
on The Nasdaq SmallCap Market (as required by Nasdaq's Marketplace Rule
4310(c)(4)) through at least October 4, 2004, subject to certain conditions.
As previously announced, GoAmerica had appealed a June 2004 Nasdaq Staff
Determination that the Company's Common Stock be delisted for failure to
satisfy the minimum bid price by May 31, 2004.
The Nasdaq Listings Qualifications Panel provided such additional time for
compliance by GoAmerica with Marketplace Rule 4310(c)(4) because GoAmerica is
in compliance with all other Nasdaq listing requirements; however, the
temporary exception also provides interim deadlines for certain actions the
Company must complete as part of the process of remedying its bid price
deficiency. The Company believes that it can meet these conditions, however,
there can be no assurance that it will do so.
In connection with the temporary exception, Nasdaq has appended a fifth
character "C" to GoAmerica's regular "GOAM" trading symbol, effective as of the
commencement of trading on the Nasdaq SmallCap Market on August 19, 2004, so
that GoAmerica's trading symbol will be "GOAMC" for the duration of the
exception. In the event that the Company's Common Stock ceases to be listed on
The Nasdaq SmallCap Market, the Company expects to be immediately listed in the
OTC-Bulletin Board maintained by Nasdaq.
About GoAmerica
GoAmerica(R) is a leading provider of wireless telecommunications services for
people with hearing loss. The Company's vision is to improve the quality of
life for people who are deaf or hard of hearing by being their premier provider
of innovative communication services. WyndTell(R)-a GoAmerica service-is the
wireless service of choice for thousands of deaf consumers across the U. S.,
and was recognized for Excellence in Universal Design and Technology, by the
California Governor's Committee for the Employment of Disabled Persons. For
more information, visit http://www.goamerica.com/ or contact GoAmerica directly
at TTY 201-527-1520, voice 201-996-1717.
The statements contained in this news release that are not based on historical
fact are "forward-looking statements" within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking statements may be
identified by the use of forward-looking terminology such as "may," "will,"
"expect," "estimate," "anticipate," "continue," or similar terms, variations of
such terms or the negative of those terms. Such forward-looking statements
involve risks and uncertainties, including, but not limited to: (i) our
limited operating history; (ii) our ability to successfully manage our
strategic alliance with EarthLink; (iii) our dependence on EarthLink to provide
billing, customer and technical support to certain of our subscribers; (iv) our
ability to respond to the rapid technological change of the wireless data
industry and offer new services; (v) our dependence on wireless carrier
networks; (vi) our ability to respond to increased competition in the wireless
data industry; (vii) our ability to integrate acquired businesses and
technologies; (viii) our ability to generate revenue growth; (ix) our ability
to increase or maintain gross margins, profitability, liquidity and capital
resources; and (x) our ability to manage our remaining operations; and (xi)
difficulties inherent in predicting the outcome of regulatory processes. Such
risks and others are more fully described in the Risk Factors set forth in our
filings with the Securities and Exchange Commission. Our actual results could
differ materially from the results expressed in, or implied by, such
forward-looking statements. Each reference in this news release to
"GoAmerica," the "Company" or "We," or any variation thereof, is a reference to
GoAmerica, Inc. and its subsidiaries. "GoAmerica" and "WyndTell" are registered
trademarks of GoAmerica. "Go.Web," "Go.Web Enterprise Server," "Mobile
Office," and "OnPrem" are also trademarks or service marks of GoAmerica. Other
names may be trademarks of their respective owners.
DATASOURCE: GoAmerica, Inc.
CONTACT: Investor Relations for GoAmerica, +1-201-996-1717,
Web site: http://www.goamerica.net/