SANTA CLARA, Calif., July 2 /PRNewswire-FirstCall/ --
First Virtual Communications, Inc., or the Company, (Nasdaq: FVCX), a premier
provider of rich media Web conferencing and collaboration solutions, today
announced that the Company received a Nasdaq Staff determination on June 25,
2002 indicating that the Company fails to comply with the minimum bid price
requirement for continued listing set forth in Marketplace Rule 4450(a)(5),
and that its securities are, therefore, subject to delisting from The Nasdaq
National Market. The Company has requested a hearing before a Nasdaq Listing
Qualifications Panel to review the Staff determination. There can be no
assurance the Panel will grant the Company's request for continued listing. In
that event, the Company plans to apply to transfer to The Nasdaq Small Cap
Market.
About First Virtual Communications
First Virtual Communications is a world leader in providing Web
conferencing and collaboration solutions to enterprises, telecommunications
service providers and government agencies. By enabling interactive voice,
video, chat and data collaboration over IP, ISDN and ATM networks, First
Virtual Communications provides cost-effective, integrated end-to-end
solutions for large-scale deployments to enterprise desktops. The Company's
flagship product, Click to Meet(TM), provides a complete framework for
delivering a new generation of video-enabled Web collaboration applications
that address the real-time communications needs of companies worldwide. Click
to Meet(TM) can be integrated seamlessly into popular messaging and
collaboration environments such as MSN Messenger and Microsoft
Exchange/Outlook. First Virtual Communications serves its customers through a
worldwide network of resellers and partners. Additional information about
First Virtual Communications can be found on the Web at http://www.fvc.com.
Cautionary Statement
Except for the historical information contained herein, this news release
contains forward-looking statements, including, without limitation, statements
containing the words, "believes," "anticipates," "expects," "plans" and words
of similar import. Such forward-looking statements have known and unknown
risks, uncertainties and other factors that may cause the actual results,
performance or achievements of First Virtual Communications, or industry
results, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such
factors include, among others: the continued increase in sales of the
Company's Click to Meet(TM) and MCU products, First Virtual Communications'
limited operating history as a combined company with CUseeMe Networks, its
variability of operating results, First Virtual Communications' broadband
video services offering, market acceptance of video technology, potential
inability to maintain business relationships with telecommunications carriers,
distributors and suppliers, rapid technological changes, competition and
consolidation in the video networking industry, the importance of attracting
and retaining personnel, and other risk factors referenced in First Virtual
Communications' public filings with the Securities and Exchange Commission,
including the Company's report on Form 10-K/A for the year ended December 31,
2001.
NOTE: All trademarks are recognized.
SOURCE First Virtual Communications, Inc.
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Related links:
http://www.fvc.com
CONTACT:
Timothy A. Rogers, Chief Financial Officer of
First Virtual Communications, Inc., +1-408-567-7200, or
trogers@fvc.com
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