WILTON, Conn., July 2 /PRNewswire-FirstCall/ --
Startech Environmental Corp. (Nasdaq: STHK) today announced that it has been
notified by the Nasdaq Stock Market, Inc. that its common stock will be
delisted from the Nasdaq Stock Market effective with the open of business on
Thursday, July 3, 2003. The delisting was a result of Startech's inability
to meet Nasdaq's shareholders' equity listing requirement.
"While the decision by NASDAQ is disappointing it was not wholly
unexpected. We have been planning for this eventuality and my goal is to now
implement actions that will prevent this from having a significant long term
impact on our business strategy or our ability to finance the company
operations," stated Joseph S. Klimek, president and CEO.
Startech's common stock will be eligible for trading on the
Over-the-Counter Bulletin Board (OTCBB) effective with the open of business on
July 3, 2003. Startech's ticker symbol will remain "STHK" on the OTCBB;
however, some internet quotation services add an "OB" to the end of the symbol
for the purpose of providing stock quotes (e.g. STHK.OB). The OTCBB is a
regulated quotation service that displays real-time quotes, last sale price,
and volume information in over-the-counter equity securities. OTCBB securities
are traded by a community of market makers that enter quotes and trade reports
through a sophisticated computer network. Investors work through a
broker/dealer to trade OTCBB securities. Information regarding the OTC
Bulletin Board, including stock quotations, can be found on the internet at
http://www.otcbb.com.
Safe Harbor for Forward-Looking Statements:
This press release contains forward-looking statements, including
statements regarding the Company's plans and expectations regarding the
development and commercialization of its Plasma Converter(TM) technology. All
forward-looking statements are subject to risk and uncertainties that could
cause actual results to differ materially from those projected. Factors that
could cause such a difference include, without limitation, general risks
associated with product development, manufacturing, rapid technological change
and competition as well as other risks set forth in the Company's filings with
the Securities and Exchange Commission. The forward-looking statements
contained herein speak only as of the date of this press release. The Company
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any such statement to reflect any change in the
Company's expectations or any change in events, conditions or circumstances on
which any such statement is based.
For further information, contact Robert L. DeRochie, VP of Investor
Relations, or see the Startech web page: http://www.startech.net
SOURCE Startech Environmental Corp.
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Related links:
http://www.startech.net
Company News On-Call:
http://www.prnewswire.com/comp/113537.html
CONTACT:
Robert L. DeRochie, VP of Investor Relations
of Startech Environmental Corp., +1-203-762-2499
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