Thread: Act Teleconferencing Problems

Act Teleconferencing Problems

Here is a piece of a release put out by Act Teleconferencing. Things aren’t looking good (chart). About a month ago the company announced financing to raise 8 million dollars. The conferencing market in general is doing well and the company recently announced financing funded through share sales. Webex is the market leader and their chart doesn’t look bad. Granted it isn’t great but they increased the stock price a bit over the past year. Perhaps 15% or so.

NASDAQ STAYS ACT TELECONFERENCING'SÂ STOCK DELISTING Appeal hearing set for October 6, 2005

DENVER - ACT Teleconferencing, Inc. (Nasdaq ACTT), an independent worldwide provider of audio, video and web-based conferencing products and services, today announced that its hearing before a Nasdaq Listing Qualifications Panel concerning compliance with Nasdaq listing criteria is set for October 6, 2005. Until a determination is made by the Panel, the delisting of ACT's common stock has been stayed, and it will continue to trade on the Nasdaq National Market.  .

ACT Chief Executive Officer Gene Warren stated, "We are looking forward to meeting with Nasdaq to bring them current on our operating plan and capital structure, and to demonstrate our compliance with their requirements. We have a unique situation and we are hopeful that they will be supportive, after reviewing our actions and considering our future plans. There are alternatives to our current listing, but we think we belong where we are now."