Zoom Achieves Compliance With Nasdaq Listing Requirements
2008-08-25 12:30:00
BOSTON, MA–(EMWNews – August 25, 2008) – Zoom Technologies, Inc. (
announced that the Company received notice from Nasdaq on August 22, 2008
that the Nasdaq Hearing Panel decided to continue Zoom’s listing on The
Nasdaq Stock Market. Zoom implemented a 1-for-5 reverse stock split on
August 7, 2008 and the Company achieved compliance because its common stock
traded above $1.00 for 10 consecutive trading days. Zoom will trade under
the symbol ZOOMD until the open of business on Friday, September 5, 2008
when it will return to trading under the symbol ZOOM.
Frank Manning, Zoom’s President and CEO, said, “We are pleased that the
reverse stock split had its intended effect, raising Zoom’s stock price and
keeping Zoom listed on The Nasdaq Stock Market. This is important to our
shareholders, and it makes Zoom better able to pursue strategic options.”
About Zoom Technologies
Zoom Technologies, Inc. designs, produces, markets, and supports
communication products under the Zoom, Hayes®, and Global Village®
brands. Zoom is headquartered in Boston, and its European sales office is
in the UK. Zoom markets its products in over forty countries, and provides
multi-lingual support from its offices in Boston. For more information
about Zoom and its products, please see www.zoom.com.
Safe Harbor Statement
“Safe Harbor” Statement under the Private Securities Litigation Reform Act
of 1995: This release includes forward-looking statements intended to
qualify for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
generally can be identified by phrases such as Zoom or its management
“believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates”
or other words or phrases of similar import. Similarly, statements in this
release that describe our business strategy, outlook, objectives, plans,
intentions or goals also are forward-looking statements. All such
forward-looking statements are subject to certain risks and uncertainties
that could cause actual results to differ materially from those in the
forward-looking statements. The forward-looking statements are made only
as of the date hereof. We undertake no obligation to update or revise the
forward-looking statements, whether as a result of new information, future
events or otherwise.
| Contact: Robert Crist 617-753-0698 Email: [email protected] Zoom Technologies, Inc. |
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