ThinkEngine Receives Notice From AMEX
May 25 2007 - 8:45AM
Business Wire
ThinkEngine Networks, Inc. (AMEX: THN), today announced that on May
22, 2007 it received notice from the American Stock Exchange
(�AMEX� or �Exchange�) indicating that the Company is below certain
of the Exchange�s continued listing standards, as set forth in
Section 1003 (a) (iii) of the AMEX Company Guide, in that the
Company, as of March 31, 2007, had Stockholders� Equity of less
than $6,000,000 and also had sustained losses from continuing
operations and/or net losses in its five most recent fiscal years.
In accordance with AMEX rules, by June 21, 2007 the Company will
submit a plan for review by the Exchange to demonstrate the
Company�s ability to regain compliance by November 21, 2008. If the
plan is accepted, the Company may be able to continue its listing
during the plan period subject to periodic review to determine that
progress is consistent with the plan. If the Company�s plan is not
accepted by the Exchange, the Company will be subject to delisting
procedures as set forth in the AMEX Company Guide. Pending a
decision by the AMEX listing qualifications staff, the Company will
remain listed on AMEX. About ThinkEngine Networks ThinkEngine
Networks is a leading provider of TDM and IP capable conferencing
bridges and media servers. The VSR1000 includes both TDM and IP
interfaces as standard equipment and is capable of processing 968
simultaneous sessions in a compact 1U platform. The NEBS 3
certified platform has been deployed by customers to implement
reservationless conferencing, prepaid calling, and IVR
applications. The Company's CX Series - Exchange Network Media
Servers are a cost-effective and highly scalable family of
carrier-class media server platforms. They deliver advanced network
media solutions in VoIP networks as well as in traditional AIN and
TDM circuit switched and mixed network environments. ThinkEngine is
a disruptive force in the marketplace � drastically reducing the
cost of implementation while giving customers a migration path from
TDM to VoIP. For more information about the Company, visit
http://www.thinkengine.com. Safe Harbor Statement This news release
contains forward-looking statements that involve risks,
uncertainties and assumptions. All statements contained herein
which are not historical facts are forward-looking statements. The
forward-looking statements in this release are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements are subject to risks
and uncertainties, which could cause actual results to differ
materially from those anticipated. Such risks and uncertainties
include, but are not limited to, the continuance of reduced capital
expenditures throughout the telecommunications market, variability
of sales volume from quarter to quarter, product demand, market
acceptance, litigation, dependence on significant customers, third
party suppliers and intellectual property rights, risks in product
and technology development and other risk factors detailed in the
company's most recent Form 10-K, and other subsequent Securities
and Exchange Commission filings. ThinkEngine Networks does not
undertake any duty to update forward-looking statements.
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