insci-statements.com Receives Delisting Notice from NASDAQ
Press release from the issuing company
WESTBOROUGH, MA (April 12, 2001)....insci-statements.com, Corp. (Nasdaq:INSI), now doing business as INSCI, announced today that it received notices of Nasdaq Staff Determinations on April 5, 2001 and April 9, 2001, indicating that the Company failed to comply with the net tangible assets and minimum bid price requirements for continued listing, and is subject to delisting from The Nasdaq SmallCap Market.
The Company is appealing and has filed a request for a hearing with the Nasdaq Listing Qualifications Panel (the "Panel") to review the Staff Determinations. There can be no assurance that the Company's actions will prevent delisting of its common stock. The Company will not be notified until the Panel makes a formal decision. Until then, the Company's shares will continue to be traded on The Nasdaq SmallCap Market. In the event the shares are delisted from The Nasdaq SmallCap Market, it will attempt to have its common stock traded on the NASD OTC Bulletin Board.
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