Trinsic Regains Limited NASDAQ Compliance; Satisfies $1.00 Minimum Bid Price Requirement
12 Octubre 2005 - 8:13AM
Business Wire
Trinsic, Inc. (NASDAQ/SC: TRNCD), parent company of Trinsic
Communications, Inc., a leading provider of traditional and IP
telephony services, announced today that it has received notice
from The Nasdaq Stock Market Inc. that it has regained compliance
with Marketplace Rule 4310(c)(4), relating to the maintenance of a
minimum $1.00 bid price. Trinsic regained compliance because the
closing bid price of its common stock was at $1.00 or more for at
least ten consecutive business days. Trinsic effected a one-for-ten
reverse stock split on September 29, 2005. Trinsic's common stock
continues to be listed on The Nasdaq SmallCap Market via a
temporary exception from Nasdaq's shareholders' minimum equity/$35
million market value of listed securities/net income requirement
subject to the condition that Trinsic's Form 10-Q for the quarter
ended September 30, 2005 must report actual stockholders' equity at
September 30, 2005 of at least $2,500,000. Trinsic's shares trade
under the symbol "TRNCD." The "D" is a temporary indicator of the
reverse stock split. The "C" will be removed from the symbol if
Trinsic meets all the terms of the exception and all other criteria
for continued listing. After that the symbol would return to
"TRIN." About Trinsic Trinsic offers consumers and businesses
traditional and IP telephony services. Trinsic's products include
proprietary services such as Web-accessible, voice-activated
calling and messaging features that are designed to meet customers'
communications needs intelligently and intuitively. Trinsic is a
member of the Cisco Powered Network Program and makes its services
available on a wholesale basis to other communications and utility
companies, including Sprint. Trinsic, Inc. changed its name from
Z-Tel Technologies, Inc. on January 3, 2005. For more information
about Trinsic and its innovative services, please visit
www.trinsic.com.
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