XFONE, Inc. to Be Listed on The American Stock Exchange
June 03 2005 - 8:06AM
PR Newswire (US)
XFONE, Inc. to Be Listed on The American Stock Exchange Company to
Initiate Trading Under "XFN" Effective June 8, 2005 LONDON, June 3
/PRNewswire-FirstCall/ -- XFONE, Inc. (OTC: XFNE) (BULLETIN BOARD:
XFNE) , a provider of international voice and data communications
services, today announced that its common stock will commence
trading on the American Stock Exchange effective June 8, 2005 under
the trading symbol "XFN". The Company was approved for listing on
the American Stock Exchange based upon a review by an Exchange
Listing Qualifications Panel, which authorized approval of the
listing pursuant to Section 1203(c)(i)(A) of the Amex Company
Guide, notwithstanding the fact that XFONE does not fully satisfy
the Exchange's regular initial listing standards with respect to
earning pre-tax income from continuing operations of at least
$750,000 in its last fiscal year, or in two of its last three
fiscal years. The Panel's decision was based upon its determination
that the Company satisfies the minimum Alternative Listing
Standards and its affirmative finding that mitigating factors
warrant listing pursuant to the Alternative Listing Standards.
Specifically, the Panel noted the Company's consistent long term
history of operations and growth, its sound and conservative
management and the likelihood, based on the Company's plans for
this year (including, in particular, the development of its Israeli
operations) that the Company would meet the initial listing
standards in Section 101 of the Amex Company Guide. This approval
is contingent upon the Company being in compliance with all
applicable listing standards on the date it begins trading on the
Exchange, and may be rescinded if the Company is not in compliance
with such standards. "This marks yet another significant milestone
for XFONE. Being welcomed onto the American Stock Exchange is a
significant step forward in the full implementation of our business
strategy and should help to attract additional institutional and
retail interest in our Company and stock," stated Guy Nissenson,
Chief Executive Officer of XFONE. About XFONE, Inc. A
U.S.-domiciled corporation, XFONE, Inc. is an international voice
and data communications services provider with operations in the
United Kingdom, the United States and Israel that offers a wide
range of services, which include: local, long distance and
international telephone services; prepaid and postpaid calling
cards; cellular services; VoIP services; reselling opportunities;
and email and fax broadcasting services. The Company serves
customers in 75 countries across Europe, Australia, North America,
South America, Asia and Africa. This press release contains
forward-looking statements. The words or phrases "should," "would
be," "will allow," "intends to," "will likely result," "are
expected to," "will continue," "is anticipated," "estimate,"
"project," or similar expressions are intended to identify
"forward-looking statements." The Company's financial results
reflected above should not be construed by any means as
representative of the current or future value of its common stock.
All information set forth in this press release, except historical
and factual information, represents forward-looking statements.
This includes all statements about the company's plans, beliefs,
estimates and expectations. These statements are based on current
estimates and projections, which involve certain risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. These risks and
uncertainties include issues related to rapidly changing technology
and evolving standards in the industries in which the Company and
its subsidiaries operate; the ability to obtain sufficient funding
to continue operations, maintain adequate cash flow, profitably
exploit new business, and license and sign new agreements; the
unpredictable nature of consumer preferences; and other factors set
forth in the Company's most recently filed annual report and
registration statement. Readers are cautioned not to place undue
reliance on these forward-looking statements, which reflect
management's analysis only as of the date hereof. The Company
undertakes no obligation to publicly revise these forward-looking
statements to reflect events or circumstances that arise after the
date hereof. Readers should carefully review the risks and
uncertainties described in other documents that the Company files
from time to time with the Securities and Exchange Commission.
Elite Financial Communications Group Stephanie Noiseux,
407-585-1080 DATASOURCE: XFONE, Inc. CONTACT: Stephanie Noiseux of
Elite Financial Communications Group, +1-407-585-1080, , for XFONE,
Inc. Web site: http://www.xfone.com/
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