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INTN Intac Intl (MM)

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Share Name Share Symbol Market Type
Intac Intl (MM) NASDAQ:INTN NASDAQ Common Stock
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INTAC Receives Nasdaq Notification of Continued Listing

13/07/2005 3:00pm

PR Newswire (US)


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INTAC Receives Nasdaq Notification of Continued Listing HONG KONG, July 13 /PRNewswire-FirstCall/ -- On July 12, 2005, INTAC International, Inc. (Nasdaq: INTNE; FSE: WKN 805768) (the "Company") received notification from the Listing Qualifications Department of The Nasdaq Stock Market that the previously announced filing delinquency related to the Company's 2004 Form 10-K is considered moot. As a result, the Company's common stock will remain listed for trading on Nasdaq and the "E" appended to the Company's trading symbol will be removed as of the open of business on July 14, 2005. As previously announced, on May 6, 2005, the Company received notification from the Listing Qualifications Department of The Nasdaq Stock Market that the Company's 2004 Form 10-K did not comply with Nasdaq Marketplace Rule 4310(c)(14) because it failed to include management's report on internal control over financial reporting and the related report of the Company's independent public accounting firm on management's assessment of the effectiveness of internal control over financial reporting (the "Attestations"). On July 11, 2005, Nasdaq, after consultation with the Staff of the Securities and Exchange Commission ("SEC"), announced that it has determined that during 2005, management's failure to complete its assessment of internal control over financial reporting or an auditor's opinion that is disclaimed based on a lack of time to complete internal control work will not result in delisting of a company, provided such company is taking all steps required by the Staff of the SEC to address these issues. To remedy the filing delinquency of the Company's 2004 Form 10-K, the Company has committed to Nasdaq and the SEC to change its fiscal year end to September 30, from December 31, and to complete the work required to give the Attestations by September 30, 2005 such that the Attestations will be included in the Form 10-K to be filed for the period ending on that date. About INTAC International, Inc. INTAC International, Inc. is a provider of a full range of integrated educational and career development services as well as management software products for educational institutions in China. In a strong cooperation (partnership) with China's Ministry of Education, INTAC tailors its online and offline services and products towards a target group of 300 million Chinese students. The services are delivered through INTAC's websites, http://www.phrbank.com/ and http://www.joyba.com/, as well as through a range of mobile value-added services, its print formats and its local Career Service Centers across China. Forward-Looking Statements This press release contains certain "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements expressed or implied by such forward-looking statements to differ materially from those projected or implied. Factors that could cause or contribute to such differences include, among other things, any change in the Company's assessment of the time period to achieve compliance with Section 404 of Sarbanes-Oxley and the identification of any other deficiencies in the Company's compliance with the Nasdaq rules. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future events or otherwise. INTAC undertakes no obligation to update any forward-looking statements made in this media release. Contact: J. David Darnell, Senior Vice President and Chief Financial Officer, 469-916-9891, for further information. Internet: http://www.intac-international.com/ http://www.PHRBank.com http://www.Joyba.com DATASOURCE: INTAC International, Inc. CONTACT: J. David Darnell, Senior Vice President and Chief Financial Officer for INTAC International, Inc., +1-469-916-9891 Web site: http://www.intac-international.com/

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