Apogee Appeals American Stock Exchange Delisting Notification
09 August 2005 - 11:30PM
Business Wire
Apogee Technology, Inc. (AMEX: ATA), a global provider of
integrated circuits and an emerging Micro-Electromechanical Systems
("MEMS") device supplier, announced that it has received written
notification, consistent with its previous announcement of July
29th regarding a verbal notification, that the American Stock
Exchange ("AMEX") has determined to proceed with an application to
the Securities and Exchange Commission to remove the common stock
of Apogee from listing and registration on AMEX. This action, which
has been appealed by Apogee, is being taken because Apogee is no
longer in compliance with the AMEX's continuing listing standards
due to the failure to file its Annual Report on Form 10-KSB for the
year ended December 31, 2004 and a Quarterly Report on Form 10-QSB
for the period ended March 31, 2005. On August 5th, Apogee appealed
the delisting determination by submitting an application for a
written submission to the AMEX Listing Qualifications Panel. AMEX
has accepted the appeal application and the Company is working to
complete its written submission to AMEX. During the period prior to
the determination on the written submission the Company's stock
will continue to trade on the AMEX. There can be no assurance that
Apogee's request for continued listing will be granted. The Company
and its auditors are working diligently toward completing the
required financial statements prior to August 19th, and through
this effort regain AMEX compliance prior to the written submission
hearing date. About Apogee Technology, Inc Apogee Technology is a
fabless semiconductor company that designs, develops and markets
silicon-based products that incorporate proprietary technologies.
The Company's patented all-digital, high-efficiency Direct Digital
Amplification (DDX(R)) ICs have been used by over 20 major consumer
electronic brands in a wide range of audio products. The company is
developing new System-on-Chip (SOC) products using its analog and
digital circuit designs and Micro-Electromechanical Systems (MEMS)
technology for the consumer, automotive, communications and medical
markets. The Company operates a worldwide marketing and sales
organization and has offices in the US, Hong Kong and Japan. For
more information please visit our web site at:
http://www.apogeeddx.com. DDX(R) is a registered trademark of
Apogee Technology, Inc. All other product names noted herein may be
trademarks of their respective holders. Certain statements made
herein that use the words "anticipate," "hope," "estimate,"
"project," "intend," "plan," "expect," "believe" and similar
expressions are intended to identify forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements involve known and unknown
risks and uncertainties, which could cause the actual results,
performance or achievements of the company to be materially
different from those that may be expressed or implied. Please refer
to the company's risk factors as set forth in the company's filings
with the Securities and Exchange Commission, including its reports
on Forms 10-KSB and 10-QSB.
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