DSL.net Receives Listing Status Update From American Stock Exchange
January 03 2006 - 4:45PM
Business Wire
DSL.net, Inc. (AMEX: BIZ), a leading nationwide provider of
broadband communications services to businesses, today reported
that it has been advised by staff of the American Stock Exchange
(AMEX) that it intends to suspend trading in the Company's common
stock effective as of the commencement of AMEX' trading session on
January 9, 2006. AMEX has further notified the Company that AMEX
has submitted an application to the Securities and Exchange
Commission to strike the Company's common stock from listing on
AMEX effective as of the opening of trading on January 10, 2006.
During the period of suspension, the Company's common stock is
eligible to be quoted immediately by market makers on The Pink
Sheets, according to that quotation system's staff advice. Further,
the Company believes its common stock is eligible for quotation on
the OTC Bulletin Board service (OTCBB), subject to a market maker
establishing a market in the Company's common stock on such
quotation service under applicable OTCBB rules. The Company has
been advised by several market makers that they intend to sponsor
quotation of the Company's common stock on OTCBB. On or promptly
following suspension of trading on AMEX, the NASDAQ will issue a
new trading symbol for the Company's common stock, which the
Company will announce upon issuance. AMEX' decision to suspend
trading and pursue delisting is based on its determination that the
Company is not in compliance with Section 1003(f)(v) of the AMEX
Company Guide due to the low selling price of the Company's common
stock, and the Company's decision to not effect a requested reverse
stock split to address such low selling price nor to appeal AMEX'
determinations, as previously reported. The last day of trading of
the Company's common stock on AMEX prior to the suspension going
into effect will be Friday, January 6, 2006. About DSL.net DSL.net,
Inc. is a leading nationwide provider of broadband communications
services to businesses. The Company combines its own facilities,
nationwide network infrastructure and Internet Service Provider
(ISP) capabilities to provide high-speed Internet access, private
network solutions and value-added services directly to small- and
medium-sized businesses or larger enterprises looking to connect
multiple locations. DSL.net product offerings include T-1, DS-3 and
business-class DSL services, virtual private networks (VPNs), frame
relay, Web hosting, DNS management, enhanced e-mail, online data
backup and recovery services, firewalls and nationwide dial-up
services, as well as integrated voice and data offerings in select
markets. For more information, visit www.dsl.net, e-mail
info@dsl.net, or call 1-877-DSL-NET1 (1-877-375-6381). This press
release may contain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
and, to the extent it does, these forward-looking statements are
subject to a variety of risks and uncertainties, many of which are
beyond DSL.net's control, which could cause actual results to
differ materially from those contemplated in these forward-looking
statements. In particular, these risks and uncertainties include,
among other things, (i) the resulting effects of AMEX' suspension
of trading in the Company's common stock and AMEX' application to
de-list the Company's common stock from its exchange; (ii) the
possibility that no market maker will sponsor or be authorized to
sponsor the Company's OTCBB quotation; and (iii) the timing and
initial and continued availability of alternative trading markets
for the Company's common stock. Existing and prospective investors
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. DSL.net
undertakes no obligation, and disclaims any obligation, to update
or revise the information contained in this press release, whether
as a result of new information, future events or circumstances or
otherwise. For additional information regarding these and other
risks faced by DSL.net, see the disclosure contained under "Risk
Factors'' in DSL.net's Annual Report on Form 10-K for the year
ended December 31, 2004, which has been filed with the Securities
and Exchange Commission. DSL.net is a trademark of DSL.net, Inc.
Other company names may be trademarks of their respective owners.
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