nStor Technologies, Inc. to Present Continued Listing Compliance Plan to American Stock Exchange
04 Janeiro 2005 - 3:00PM
PR Newswire (US)
nStor Technologies, Inc. to Present Continued Listing Compliance
Plan to American Stock Exchange CARLSBAD, Calif., Jan. 4
/PRNewswire-FirstCall/ -- nStor Technologies, Inc. (AMEX:NSO) said
today it has received notice from the American Stock Exchange that
the Company is not in compliance with AMEX's continuing listing
standards related to minimum shareholders' equity and losses from
continuing operations. In order to maintain its AMEX listing, nStor
must submit a plan by January 28, 2005 outlining action it has
taken, or will take, that will bring it into compliance with the
continued listing standards within a maximum of 18 months. If AMEX
accepts the plan, nStor should be able to continue its listing for
up to 18 months, subject to periodic AMEX review and determination
that the Company has progressed in accordance with the plan. Todd
Gresham, president and CEO, stated that the Company expects to
submit a plan to AMEX which will demonstrate its ability to
significantly improve shareholders' equity and regain compliance
with AMEX's continued listing standards. Gresham further stated
that, "Improving shareholder equity is one of the Company's key
goals for 2005 and part of the overall improvement plan that was
put in motion when the new management team came on board in the
second quarter of 2004." About nStor Technologies, Inc.
Headquartered in Carlsbad, Calif., nStor Technologies, Inc.
(AMEX:NSO) is a developer of data storage solutions that are
ideally suited for both large enterprises as well as small to
mid-sized businesses. The Company's flagship controller technology
and StorView software form the foundation for the NexStor family of
turnkey solutions that support Microsoft Windows, Linux, UNIX and
Macintosh operating environments. Designed for storage-intensive
environments and mission-critical applications, nStor's products
are offered in various architectures including Fibre Channel, SCSI
and SATA and are focused on addressing customers' business needs
and applications. The Company markets its storage solutions through
a global network of OEM partners and systems integrators. For more
information, visit http://www.nstor.com/. This press release
includes statements that may constitute "forward-looking"
statements, usually containing the words "believe," "estimated,"
"project," "expect," "anticipate," or similar expressions. These
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements inherently involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking
statements. Factors that would cause or contribute to such
differences include, but are not limited to, the Company's
inability to increase sales to current customers and to expand its
customer base, continued acceptance of the Company's products in
the marketplace, the Company's inability to improve the gross
margin on its products, competitive factors, dependence upon
third-party vendors, outcome of litigation, insufficient funding
and other risks detailed in the Company's periodic report filings
with the Securities and Exchange Commission. By making these
forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release. nStor and StorView are registered trademarks of nStor
Technologies, Inc. DATASOURCE: nStor Technologies, Inc. CONTACT:
Veena Raman of nStor Technologies, Inc., +1-760-683-2500, Web site:
http://www.nstor.com/
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