CONCORD, Mass., Jan. 9 /PRNewswire/ -- Starmet Corporation
(Nasdaq: STMTE), a Concord, Massachusetts based manufacturer of specialized
metal products, received a NASDAQ Staff Determination Letter on January 5,
2001, indicating that the Company failed to comply with the filing requirement
for its Form 10-K for the year ended September 30, 2000 as required by
Marketplace Rule 4310 (c)(14). Additionally, the Company informed NASDAQ that
it anticipates soon being out of compliance with the Net Tangible Assets,
Minimum Bid Price and Market Value of Public Float listing requirements due
primarily to the U.S. Army's denial of the Company's environmental claim.
Accordingly, the Company's securities will be delisted from the NASDAQ Stock
Market at the opening of business on January 12, 2001.
Special Note Regarding Forward-looking Statements:
Statements contained herein that are not statements of historical fact are
"forward-looking statements." Forward-looking statements include statements
concerning expectations of management with respect to being out of compliance
with NASDAQ listing requirements.
Such forward-looking statements are based on a number of assumptions and
involve a number of risks and uncertainties, and, accordingly, actual results
could differ materially from those projected in the forward-looking
statements. Factors that may cause such differences include, but are not
limited to: the effects of federal, state and local government regulation;
economic conditions, results of litigation and other risks identified in the
Company's filings with the Securities and Exchange Commission.
For further information, please contact:
Gary Mattheson
Chief Financial Officer
(978) 369-5410
Company News on Call: http://www.prnewswire.com or fax,
800-758-5804, ext. 632850
Web Site: http://www.starmet.com
SOURCE Starmet Corporation
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Related links:
http://www.starmet.com
Company News On-Call:
http://www.prnewswire.com/comp/632850.html or fax,
800-758-5804, ext. 632850
CONTACT:
Gary Mattheson, Chief Financial Officer of
Starmet Corporation, 978-369-5410
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