Business Services Industry
Prosoft Provides Updated Trading Information
Business Wire, Nov 11, 2005
PHOENIX -- Prosoft Learning Corp. (NASDAQ: POSO) today clarified that while the company is eligible to be traded on the Over-the-Counter Bulletin Board ("OTCBB"), trading will not begin on the OTCBB until a market maker files a Form 211, which is required to initiate quotations on the OTC Bulletin Board, and until such form is accepted by the OTCBB. Only a market maker, not the company, can file a Form 211. One market maker has informed the company that it has filed the necessary paperwork with the OTCBB, but the company is unaware when such form will be accepted.
Prosoft's shares will be delisted from the Nasdaq SmallCap Market effective with the opening of trading on Nov. 14. The company anticipates that trading on the OTCBB will begin upon acceptance by the OTCBB of the Form 211 filing, with trading taking place on the "Pink Sheets" until such time.
About Prosoft Learning Corp.
Prosoft Learning Corp. offers content and certifications to enable individuals to develop and validate critical Information and Communications Technology (ICT) workforce skills. Prosoft is a leader in the workforce development arena, working with state and local governments and school districts to provide ICT education solutions for high school and community college students. Prosoft has created and distributes a complete library of classroom and e-learning courses. Prosoft distributes its content through its ComputerPREP division to individuals, schools, colleges, commercial training centers and corporations worldwide. Prosoft owns the CIW job-role certification program for Internet technologies and the CCNT (Certified in Convergent Network Technologies) certification, and manages the CTP (Convergence Technologies Professional) vendor-neutral certification for telecommunications. To find out more, visit www.ProsoftLearning.com, www.ComputerPREP.com, www.CIWcertified.com and www.CTPcertified.com.
Forward-Looking Statements
Except for historical information contained herein, the matters discussed in this press release are statements of a forward-looking nature that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, without limitation, the delisting of the company's common stock from the Nasdaq SmallCap Market; the timing of the beginning of the company's trading on the OTCBB; the company's ability to obtain waivers under its senior note obligations and the terms of such waivers; the company's dependence on the timely development, introduction and acceptance of courses, proprietary certifications and other products; the acceptance of ICT certifications in general; the continued and improved penetration of the academic, learning center and corporate markets; the successful implementation of strategic relationships; the effect of changing economic conditions; and the other risks and uncertainties outlined in the company's filings with the Securities and Exchange Commission, including, but not limited to, the company's Annual Report on Form 10-KSB and Quarterly Reports on Form 10-Q. The company undertakes no obligation to update this forward-looking information.
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