Pac-West Telecomm Regains Compliance With Nasdaq SmallCap Listing Requirements
03 Dezember 2004 - 1:00AM
PR Newswire (US)
Pac-West Telecomm Regains Compliance With Nasdaq SmallCap Listing
Requirements STOCKTON, Calif., Dec. 2 /PRNewswire-FirstCall/ --
Pac-West Telecomm, Inc. (NASDAQ:PACW), a provider of communications
services to service providers and enterprise customers in the
Western U.S., today announced that it has received notification
from the Nasdaq Listing Qualifications Department that the company
has regained compliance with all requirements for continued listing
on the Nasdaq SmallCap Market. On September 10, 2004, Pac-West was
notified that its common stock had closed below the minimum bid
price of $1.00 for a period of 30 consecutive business days
creating a condition of non-compliance with the Marketplace Rules
of The NASDAQ Stock Market. Since then, the closing bid price of
Pac-West's common stock has been at $1.00 per share or greater for
at least 10 consecutive business days. On December 2, 2004, Nasdaq
advised Pac-West that it has regained compliance and the matter is
now closed. About Pac-West Telecomm, Inc. Founded in 1980 and first
incorporated in 1981, Pac-West Telecomm, Inc. has been offering
telephone service to its customers since 1982. Pac-West is
currently one of the largest competitive local exchange carriers
headquartered in California. Pac-West's network averages over 120
million minutes of voice and data traffic per day, and carries an
estimated 20% of the dial-up Internet traffic in California. In
addition to California, Pac-West has operations in Nevada,
Washington, Arizona, and Oregon. For more information, please visit
Pac-West's website at http://www.pacwest.com/. Forward-Looking
Statements In this press release, our use of the words "outlook,"
"expect," "anticipate," "estimate," "forecast," "project,"
"likely," "objective," "plan," "designed," "goal," "target," and
similar expressions is intended to identify forward-looking
statements. While these statements represent our current judgment
on what the future may hold, and we believe these judgments are
reasonable, actual results may differ materially due to numerous
important risk factors that are described in our Annual Report on
Form 10-K for the period ended December 31, 2003, as filed with the
SEC on March 30, 2004, which may be revised or supplemented in
subsequent reports filed by us with the SEC. Such risk factors
include, but are not limited to: our substantial indebtedness; an
inability to generate sufficient cash to service our indebtedness;
regulatory and legal uncertainty with respect to intercarrier
compensation payments received by us; the declining rate at which
intercarrier compensation payments are determined; the inability to
expand our business as a result of the unavailability of funds to
do so; adverse affects on our operations as a result of covenants
in agreements related to our borrowings; the loss of key executive
officers could negatively impact our business prospects; the
possible delisting of our common shares from the Nasdaq SmallCap
Market; and our principal competitors for local services and
potential additional competitors have advantages that may adversely
affect our ability to compete with them. DATASOURCE: Pac-West
Telecomm, Inc. CONTACT: investor and media, Reid Cox of Pac-West
Telecomm, +1-209-926-3417, or Web site: http://www.pacwest.com/
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