Message #4 From:
NewsBot Date: July 27, 2005 10:11:00 AM
REDI News Remote Dynamics Explains Wednesday's Trading Activity of Remote Dynamics' Common Stock
RICHARDSON, Texas--(BUSINESS WIRE)--July 27, 2005--Remote Dynamics, Inc. (Nasdaq:REDI), a leading provider of mobile resource management solutions for commercial fleets, is providing clarification of the market circumstances surrounding the unusual trading activity of Remote Dynamics' common stock, which occurred today, Wednesday, July 27, 2005. Today, at 9:31 a.m. EDT, Remote Dynamics' common stock fell from $0.87 to $0.05 per share, all within a time frame of approximately two minutes. Remote Dynamics was in communication with the NASDAQ Stock Market, Inc. (NASDAQ) and confirmed that there was no corporate event or news to explain the unusual trading activity. The stock closed at $0.80 per share.
NASDAQ subsequently apprised Remote Dynamics that it had determined that the unusual trading activity resulted from an order entry error by a market participant. Remote Dynamics was in no way responsible for this unusual trading activity. Remote Dynamics was in communication and fully cooperative with NASDAQ throughout the remainder of the day, providing any necessary information requested by NASDAQ officials. Remote Dynamics has requested that the matter be referred to NASD Regulation for investigation.
About Remote Dynamics:
Remote Dynamics, Inc. (Nasdaq:REDI) provides patented state-of-the-art mobile resource management solutions that contribute to higher customer revenues, enhanced operator efficiency and improved cost control. Combining GPS and wireless telematics with supply chain management, the company's solutions improve mobile worker productivity through real-time position and route reporting, as well as exception-based reporting that analyzes mobile workforce inefficiencies for operational optimization. More information about Remote Dynamics is available online at http://www.remotedynamics.com.
"Remote Dynamics," "REDIview," and their associated logotypes are trademarks and service marks of Remote Dynamics, Inc. (C) Remote Dynamics, Inc. All rights reserved.
