JTWO/8.80 getting de-listed...watch out below>>>>>>>>>
J2 Communications Delisted From The Nasdaq SmallCap Market
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LOS ANGELES, March 24 /PRNewswire-FirstCall/ -- J2 Communications (Nasdaq: JTWO), owner of the National Lampoon trademark, announced today that its common stock has been delisted from the Nasdaq SmallCap Market effective as of the opening of the market on March 25, 2002. The Company expects its common stock to be eligible to trade on the Over-the-Counter (OTC) Bulletin Board.
At a February 14, 2002 hearing before the Nasdaq Listing Qualifications Panel, the Company requested continued inclusion on The Nasdaq SmallCap Market pursuant to an exception to the proxy solicitation, annual meeting and shareholders' equity requirements set forth in the Nasdaq Marketplace Rules. On March 22, 2002, the Panel notified the Company of its delisting determination. The Company does not expect Nasdaq's determination to have any impact on its day-to-day operations.
The Company intends to request the Nasdaq Listing and Hearing Review Council to review the Panel's delisting determination. There can be no assurance that the Listing Council will decide not to uphold the Panel's delisting determination.
The Company will file a copy of this press release with its filings with the Securities and Exchange Commission, which filings are available on the SEC's website at www.sec.gov.
About J2 Communications
J2 Communications (Nasdaq: JTWO) owns National Lampoon, one of the leading brands in comedy. National Lampoon is active in a broad array of entertainment activities, including feature films, television programming, interactive entertainment, home video, comedy audio CD's and book publishing. The new National Lampoon movie, "National Lampoon's Van Wilder," is expected to open nationwide this spring.
For more information contact: James P. Jimirro 310/474-5252
This press release contains forward-looking statements which are based on the Company's current expectations, forecasts and assumptions. In some cases forward-looking statements may be identified by forward-looking words like "would," "intend," "hope," "will," "may," "should," "expect," "anticipate," "believe," "estimate," "predict," "continue," or similar words. Forward-looking statements involve risks and uncertainties which could cause actual outcomes and results to differ materially from the Company's expectations, forecasts and assumptions. These risks and uncertainties include the risks that "National Lampoon's Van Wilder" will not open as expected and other risks and uncertainties not in the control of the Company, including, without limitation, the current economic climate in the United States and other risks and uncertainties, including those enumerated and described in the Company's filings with the Securities and Exchange Commission, which filings are available on the SEC's website at www.sec.gov. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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SOURCE J2 Communications
/CONTACT: James P. Jimirro of J2 Communications, +1-310-474-5252/