Contact Information: Media Contact: Ron Arp 360.601.2991
Metro One Withdraws Appeal for Continued Listing on Nasdaq; Moves to the OTC Bulletin Board
| Source: Metro One Telecommunications, Inc.
BEAVERTON, OR--(Marketwire - September 19, 2008) - Metro One Telecommunications, Inc. (NASDAQ : INFO ) announced that it has withdrawn its appeal to the Nasdaq Listing
Qualifications panel following the Nasdaq staff determination that Metro
One did not satisfy the requirements for continued listing on The Nasdaq
Capital Market. In response, the Nasdaq Office of General Counsel,
Hearings, indicated by letter dated September 17, 2008, that the Company's
shares will be suspended from trading effective at the open of business
Friday, September 19, 2008 and subsequently delisted.
The Company has been advised that the Financial Industry Regulatory
Authority (FINRA) has cleared a market maker's Form 211 application to
quote the Company's stock on the OTC Bulletin Board™ (OTCBB). As a
result, trading and quotations for the Company's common stock can begin on
the OTCBB today.
"Our move to the OTCBB allows us to focus more intently on revitalizing our
business with new initiatives while also addressing the need for our
shareholders to have continued liquidity in their stock," said Jim Hensel,
CEO of Metro One Telecommunications.
Metro One announced in March that it was exiting the unprofitable live
directory assistance business, and is now providing outsourced contact
services and data services to companies and municipalities. The Company
has since introduced three new data services products and has twice
expanded the contact center at its Beaverton headquarters.
About Metro One Telecommunications
Based in Beaverton, Ore., a Portland suburb, Metro One is an information
services provider, offering inbound and outbound contact services, data and
analytics, and related services. In the past two years, the company has
processed more than 300 million data transactions. More information is at
www.metro1.com.