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9.29.2005 |
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Global ePoint Issues Clarification on Notice from Nasdaq |
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Company Believes That It Will Be Able to Resolve the Nasdaq’s Comments in a Timely Fashion |
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CITY OF INDUSTRY, Calif. — (BUSINESS WIRE) — Sept. 29, 2005 — Global ePoint, Inc. (Nasdaq: GEPT – News), a leading manufacturer of security technologies for the aviation, law enforcement, industrial and commercial markets, provided further clarification of its announcement earlier today concerning its Nasdaq notice. As earlier announced, the Company received a letter from the Nasdaq Stock Market on September 23, 2005 indicating its belief that Global ePoint did not comply with Marketplace Rule 4350(i)(1)(A), which requires shareholder approval for issuances of common stock or securities convertible into common stock to employees, officers, directors or consultants.
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About Global ePoint | |||
Global ePoint designs, manufactures, sells and distributes digital video surveillance systems for the law enforcement, military, aviation and homeland security markets. On the cutting edge of digital technology, Global ePoint is developing new compression technologies and next–generation, secure network digital video systems and servers for a wide range of new markets, concentrating primarily on security and homeland defense applications. The Company also manufactures customized computing systems for industrial, business and consumer markets, as well as other specialized electronic products and systems. Complete vertical integration — from design and manufacturing to sales and distribution — allows the Company to capture efficiencies and maintain cost advantages in these growing markets, particularly homeland security. For more information, please visit www.globalepoint.com
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