eLinear Solutions Regains Compliance with Amex
19 Julio 2006 - 7:57AM
Business Wire
eLinear, Inc. (AMEX:ELU) announced today it has received a formal
notification from the American Stock Exchange indicating that the
delisting procedures that were in effect due to the company's
delinquency in filing its 2005 annual report and 2006 Q1 financial
statements have now been cancelled. Quoted directly from the
American Stock Exchange correspondence to eLinear: "The staff of
the Listing Qualifications Department of the Amex has advised the
Amex Hearings Department that the company has regained compliance
with Sections 134 and 1101 of the Amex Company Guide. Consequently,
the staff has recommended to the Hearings Department that the
meeting to consider the company's appeal of the delisting in
connection with non-compliance with these sections of the Company
Guide be cancelled, and we concur with that recommendation." Tommy
Allen, CEO of eLinear, stated, "We are very pleased as a management
team and as a company to have successfully navigated through the
issues outstanding with the American Stock Exchange. Personally, as
eLinear's largest shareholder, I am thankful to have this cloud of
uncertainty with the continued listing of ELU on the American Stock
Exchange removed. From this point forward, now that we are able to
fully focus on operations, we will get eLinear back on track."
About eLinear, Inc. eLinear, Inc. is a communications, security and
compliance company providing integrated technology solutions
including information and physical security, IP Telephony and
network and storage solutions infrastructure. Typically, the
company's customers are Fortune 2000 and small to medium sized
business organizations. eLinear's services are offered to companies
seeking to increase productivity or reduce costs through investing
in technology. eLinear has a national and international footprint
(based in Dubai) and has its headquarters in Houston, Texas. For
more information, see http://www.elinear.com. Safe Harbor Statement
This press release contains statements that may constitute
forward-looking statements, including the company's ability to
realize the projected revenues from the newly announced project
orders and the future strength of the company's business and
industry. These statements are based on current expectations and
assumptions and involve a number of uncertainties and risks that
could cause actual results to differ materially from those
currently expected. For additional information about eLinear please
visit www.elinear.com or www.sec.gov. eLinear undertakes no
obligation to update any forward-looking statement that may be made
from time to time by or on behalf of the company, whether as a
result of new information, future events or otherwise.
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