T/R Systems Announces Transfer to Nasdaq SmallCap Market
Press release from the issuing company
ATLANTA--Nov. 13, 2002--T/R SYSTEMS, a leader in developing innovative solutions for the management and production of digital documents, announced today the transfer of the listing of its common stock to the Nasdaq SmallCap Market.
The transfer will be effective at the opening of business on November 14, 2002. The listing of T/R Systems' common stock will continue under the Nasdaq trading symbol "TRSI."
The Nasdaq SmallCap Market is a fully automated electronic exchange in which over 800 companies are listed. Due to recent introduction of Nasdaq's SuperMontage trading system, securities listed on both the Nasdaq National Market, where the company's stock had been trading, and the Nasdaq SmallCap Market share a unified, more liquid, order entry system.
T/R Systems currently meets all the continued inclusion requirements for listing on the Nasdaq SmallCap Market except for the $1.00 minimum bid price per share requirement. T/R Systems has a grace period until February 10, 2003 in which it can demonstrate compliance with the $1.00 minimum bid price per share. Additionally, the company may be eligible for an additional 180 calendar day grace period provided that it meets the initial listing criteria for the Nasdaq SmallCap Market.
"We are transferring to the Nasdaq SmallCap Market to continue to provide an orderly market for our investors," said Lyle Newkirk, Senior Vice President and Chief Financial Officer. "Meanwhile, our focus has not changed, and we continue to work on growing revenue in a difficult economic environment as well as a return to cash and earnings growth."
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