Message #4 From:
NewsBot Date: September 14, 2005 12:44:00 AM
TRIN News Trinsic Regains Limited Compliance
TAMPA, Fla.--(BUSINESS WIRE)--Sept. 14, 2005--Trinsic, Inc. (NASDAQ/SC: TRIN), 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 4351 (dealing with voting rights) and Marketplace Rule 4310(c)(17) (dealing with submission of a Listing of Additional Shares Notification Form). The deficiencies, announced by the Company on August 31, 2005, resulted from its issuance of Series H Convertible Preferred Stock. According to the Company it corrected the deficiencies by entering into a voting agreement with respect to its Series H Convertible Preferred Stock, making certain commitments to The Nasdaq Stock Market with respect to future proxy solicitations and by filing the required Listing of Additional Shares Notification Form. Trinsic's common stock continues to be listed on The Nasdaq SmallCap Market via a temporary exception from Nasdaq's shareholders' equity/$35 million market value of listed securities/net income and minimum bid price requirements subject to certain previously announced conditions.
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.
