Aliso Viejo, Calif., June 14, 2001 - buy.com™ (Nasdaq: BUYX), The
Internet Superstore™ received a Nasdaq Staff Determination on June 7,
2001, indicating that the Company no longer meets the requirements for
the continued listing of its common stock on the Nasdaq National
Market, and that its securities are, therefore, subject to delisting
from the Nasdaq National Market. The notification is based on the
failure by the Company to maintain a minimum bid price of $1.00 as
required by Nasdaq listing maintenance standards set forth in
Marketplace Rule 4450 (a)(5). The Company has requested a hearing
before a Nasdaq Listing Qualifications Panel to review the Staff
Determination; however, there can be no assurance that the Panel will
grant the Company`s request for continued listing.
about buy.com
buy.com, The Internet Superstore™ and low price leader, offers its 3.8
million customers nearly 1,000,000 SKUs in a range of categories
including computer hardware and software, electronics, wireless
products and services, books, office supplies and more. Individuals and
businesses can shop quickly and easily at buy.com 24 hours a day, 7
days a week. buy.com was named the No. 1 electronics e-tailer in the
PowerRankings by Forrester Research, Inc. (November 2000), a "Best of
the Web" in the computer and electronics category by Forbes Magazine
(spring 2000 and fall 2000), "Best Overall Place To Buy" by Computer
Shopper Magazine (January 2001). buy.com, founded in June 1997, is
located in Aliso Viejo, California. For more information visit
www.buy.com. buy.com™ and The Internet Superstore,™ are trademarks of
buy.com Inc.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
This release may contain forward-looking statements that involve risks
and uncertainties. Important factors, which could cause actual
operating results to differ materially from those in the
forward-looking statements, include, without limitation, risks that the
Nasdaq Listing Qualifications Panel will decline to grant our request
for a hearing on the Staff Determination, or that if such request for
hearing is granted, that the company will be successful in its request
for continued listing, and risks that if such delisting occurs the
company`s stock price may decline and the trading volume may decrease.
Other risks are detailed in filings with the Securities and Exchange
Commission made from time to time by buy.com, including its Annual
Report on form 10-K, as amended, filed with the Securities and Exchange
Commission on March 29, 2001, and its quarterly reports filed from time
to time with the Securities and Exchange Commission. buy.com undertakes
no obligations to release publicly any revisions to any forward-looking
statements to reflect events or circumstances after the date hereof to
reflect the occurrence of unanticipated events.
-0-
Contacts:
Financial Contact:
Robert Price
949.389.2247
robertp@buy.com
Back...
