Business Services Industry
Affinity Technology Group Announces It has Filed a Formal Request for NASDAQ Hearing
Business Wire, Jan 5, 2001
Business Editors
COLUMBIA, SC--(BUSINESS WIRE)--Jan. 5, 2001
Affinity Technology Group, Inc. (Nasdaq: AFFI) today announced that it has requested a hearing before the Nasdaq Listing Qualifications Panel (the "Panel"), and that the hearing request has stayed the delisting of the company's securities pending the Panel's decision. The company previously announced that it had been notified by the Nasdaq Stock Market that it was not in compliance with Nasdaq's listing standards that require the company's stock to maintain a minimum bid price of $1.00 or more. The company was given until December 28, 2000 to regain compliance, but the company's common stock did not meet the minimum bid price requirements prior to the deadline.
About Affinity Technology Group, Inc.
Affinity's technology enables financial institutions to link their branches, call centers, Internet customers, and indirect agents electronically to their credit departments, providing fully automated lending - and, if necessary, connectivity to a loan officer - through every channel. For financial institutions, Affinity's solutions expedite loan decisioning and processing and increase productivity and capacity of branch personnel, call center agents, loan officers, and indirect agents, while improving the overall customer experience. Affinity is located on the World Wide Web at www.affi.net.
Forward-looking statements in this news release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these statements involve several risks and uncertainties that may cause actual results to differ materially from those projected. In addition, the company is unable to provide assurance that the company's Common Stock will not be delisted from the Nasdaq SmallCap Market or that the company will be able to regain or maintain compliance with the Nasdaq listing standards in the future.
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