Apogee Common Stock Listing Transition
Posted on December 28, 2007 at 10:20 AM EST
Apogee Technology, Inc. (AMEX: ATA) (the "Company") will trade on the Pink Sheets© under the Stock symbol ATA.PK effective December 31, 2007. The shares will cease trading on the American Stock Exchange after the close of trading today, Friday, December 28, 2007. The Company has initiated the process for its shares to be quoted on the Over-the-Counter Bulletin Board® ("OTCBB") and will announce the transition when completed.
Herbert Stein, Apogee's Chairman and CEO, said, "We were pleased with our experience on the American Stock Exchange. However, we believe that raising sufficient equity funds, at this time, to meet the Amex shareholder equity listing requirements exceeds our near term capital needs and would result in unnecessary dilution. Our planned transition to the Pink Sheets and then the OTCBB will provide liquidity and marketability for our stock while allowing us to execute a funding strategy that we believe will better serve our business and shareholders' interests."
About Apogee Technology, Inc.
Apogee Technology, Inc. is a biotechnology company developing proprietary systems for the delivery of pharmaceutical agents into the skin for the treatment and prevention of local and systemic conditions. The Company's PyraDerm(TM) delivery system incorporates structured solid-state formulations designed to penetrate the outer layer of the skin and then release the agent in a controlled manner. The Company is also developing and commercializing sensors and sensor systems with a specialized focus on health monitoring systems. For more information please visit our web site at: http://www.apogeebio.com.
PyraDerm(TM), Sensilica® and IntellaPAL(TM) are trademarks of Apogee Technology, Inc. All other product names noted herein may be trademarks of their respective holders.
Certain statements made herein that use the words "anticipate," "may," "hope," "estimate," "project," "will," "intend," "plan," "expect," "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve those oriented to the Company's continued trading status, capital raising transactions and its interaction with future quotation or listing services in addition to those related to the design, development and production efforts of our PyraDerm(TM), Sensilica® and IntellaPAL(TM) technologies, known and unknown risks and uncertainties, which could cause the actual results, performance or achievements of the Company to be materially different from those that may be expressed or implied. Please refer to the company's risk factors as set forth in the Company's filings with the Securities and Exchange Commission, including its report on Form 10-KSB, as amended, for the year ended December 31, 2006 and its quarterly reports on Form 10-QSB, for the quarters ended March 31, 2007, June 30, 2007 and September 30, 2007.
Apogee Investor Contact:
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