Regains Compliance with Nasdaq Minimum Bid Listing Requirement
Boston, MA, June 23, 2003 — Zoom
Technologies, Inc. (NASDAQ: ZOOM)
a leading manufacturer of modems and other data communications
products, today announced receipt of
a letter from the Nasdaq Stock Market stating that Zoom's
common stock regained compliance with Nasdaq's $1.00 minimum
bid price requirement.
Zoom has confirmed that it currently meets all the requirements
for continued listing on the Nasdaq SmallCap Market.
In addition, if the minimum bid price for Zoom's common
closes at $1.00 per share or greater for each trading
day this week, then Zoom would become eligible to transfer
back to the Nasdaq National Market without paying additional
application or listing fees. Zoom believes it currently
complies with the continued listing requirements of the
Nasdaq National Market.
For additional information, please contact:
207 South Street
Boston, Massachusetts 02111
Telephone: (617) 423-1072
Zoom's World Wide Web site is www.zoomtel.com