to Transfer to Nasdaq SmallCap Market
Transfer Scheduled for the Opening
of Business on January 15, 2003
MA, January 14, 2003 — Zoom Telephonics, Inc.
announced today that it will transfer the listing of its
stock to the Nasdaq SmallCap Market from the Nasdaq National
Market at the opening of business on January 15, 2003. Zoom's
stock will continue to trade under the symbol "ZOOM".
Zoom sought a transfer to the Nasdaq SmallCap Market
because its common stock had not met Nasdaq's $1.00 per share
minimum bid price requirement. A transfer to the Nasdaq SmallCap
Market gives Zoom additional time to meet the Nasdaq minimum
bid price requirement of $1.00 per share. By transferring
to the Nasdaq SmallCap Market Zoom may be afforded an additional
180 day grace period in which to satisfy the minimum bid price
requirement, potentially until July 20, 2003, provided that
Zoom is able to continue to meet other applicable listing
criteria, including shareholders' equity of at least $5 million.
Furthermore, Zoom should be eligible to transfer back to the
Nasdaq National Market if Zoom's bid price maintains the minimum
$1.00 per share requirement for 30 consecutive trading days
during the extended grace period and if Zoom has maintained
compliance with all other continued listing requirements on
the Nasdaq National Market. The Company's continued listing
on the Nasdaq SmallCap Market is subject to its successful
completion of an application and review process.
Nasdaq SmallCap Market is fully automated, and provides real-time
trade reporting and a marketplace for more than 800 companies.
With the introduction of the Nasdaq SuperMontageSM trading
system, securities listed on both the Nasdaq National Market
and Nasdaq SmallCap Market share a unified, more liquid and
transparent order entry system.
Zoom Telephonics, a communications leader since 1977, designs,
produces and markets dial-up modems, cable and ADSL modems,
wireless LAN products, home and small office networking devices,
and other data communication products under the Zoom, Hayes
and Global Village brands. Zoom products are available in
thousands of the highest volume computer retailers worldwide.
For more information visit Zoom at www.zoomtel.com.