Message #3 From:
NewsBot Date: July 27, 2005 10:55:00 AM
TRIN News Trinsic Receives Nasdaq Extension
TAMPA, Fla.--(BUSINESS WIRE)--July 27, 2005--Trinsic, Inc., (NASDAQ/SC: TRIN), parent company of Trinsic Communications, Inc., a leading provider of traditional and IP telephony services, announced today that its common stock will continue to be listed on The Nasdaq SmallCap Market via an exception from Nasdaq's shareholders' equity/$35 million market value of listed securities/net income and minimum bid price requirements.
A Nasdaq Listing Qualifications Hearing Panel has granted the company a temporary exception from these requirements subject to the following conditions:
(1) The company's Form 10-Q for the quarter ended June 30, 2005 must evidence pro forma stockholders' equity of at least $2,500,000 at June 30, 2005.
(2) The company'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.
(3) On or before September 30, 2005, the company must evidence a closing bid price of at least $1.00 per share and immediately thereafter a closing bid price of at least $1.00 per share for a minimum of 10 consecutive trading days.
If Trinsic meets the terms of the exception, its shares will continue to be listed on The Nasdaq SmallCap Market. Commencing Friday, July 28, 2005 and for the duration of the exception, the trading symbol for Trinsic's shares will be "TRINC." The "C" will be removed from the symbol upon confirmation of the company's compliance with the terms of the exception and all other criteria for continued listing
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.
