XFONE, INC. TO BE LISTED ON THE AMERICAN STOCK EXCHANGE
Company to Initiate Trading Under “XFN” Effective June 8, 2005
June 3, 2005
LONDON –- (PR Newswire) – June 3, 2005 - XFONE, Inc. (OTCBB:XFNE), a provider of international voice and data communications services, today announced that its common stock will commence trading on the American Stock Exchange effective June 8, 2005 under the trading symbol “XFN”.
The Company was approved for listing on the American Stock Exchange based upon a review by an Exchange Listing Qualifications Panel, which authorized approval of the listing pursuant to Section 1203(c)(i)(A) of the Amex Company Guide, notwithstanding the fact that XFONE does not fully satisfy the Exchange’s regular initial listing standards with respect to earning pre-tax income from continuing operations of at least $750,000 in its last fiscal year, or in two of its last three fiscal years. The Panel’s decision was based upon its determination that the Company satisfies the minimum Alternative Listing Standards and its affirmative finding that mitigating factors warrant listing pursuant to the Alternative Listing Standards.
Specifically, the Panel noted the Company’s consistent long term history of operations and growth, its sound and conservative management and the likelihood, based on the Company’s plans for this year (including, in particular, the development of its Israeli operations) that the Company would meet the initial listing standards in Section 101 of the Amex Company Guide.
This approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if the Company is not in compliance with such standards.
“This marks yet another significant milestone for XFONE. Being welcomed onto the American Stock Exchange is a significant step forward in the full implementation of our business strategy and should help to attract additional institutional and retail interest in our Company and stock,” stated Guy Nissenson, Chief Executive Officer of XFONE.
About XFONE, Inc.
A U.S.-domiciled corporation, XFONE, Inc. is an international voice, video and data communications services provider with operations in the United Kingdom, the United States and Israel that offers a wide range of services, which include: local, long distance and international telephony services; prepaid and postpaid calling cards; cellular services; Internet services; messaging services (Email/Fax Broadcast, Email2Fax and Cyber-Number); and reselling opportunities. The Company serves customers across Europe, Asia, North, Central and South America, Australia and Africa.
This press release contains forward-looking statements.
The words or phrases "should," "would
be," "will allow," "intends to,"
"will likely result," "are expected to,"
"will continue," "is anticipated,"
"estimate," "project," or similar
expressions are intended to identify "forward-looking
statements." The Company's financial results reflected
above should not be construed by any means as representative
of the current or future value of its common stock.
All information set forth in this press release, except
historical and factual information, represents forward-looking
statements. This includes all statements about the company's
plans, beliefs, estimates and expectations. These statements
are based on current estimates and projections, which
involve certain risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements. These risks and uncertainties
include issues related to rapidly changing technology
and evolving standards in the industries in which the
Company and its subsidiaries operate; the ability to
obtain sufficient funding to continue operations, maintain
adequate cash flow, profitably exploit new business,
and license and sign new agreements; the unpredictable
nature of consumer preferences; and other factors set
forth in the Company's most recently filed annual report
and registration statement. Readers are cautioned not
to place undue reliance on these forward-looking statements,
which reflect management's analysis only as of the date
hereof. The Company undertakes no obligation to publicly
revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof. Readers
should carefully review the risks and uncertainties
described in other documents that the Company files
from time to time with the Securities and Exchange Commission.
| For More Information, Please Contact: |
 |
| U.S.
IR Contact |
John Nesbett/Jennifer Beloeau
Institutional Marketing Services (IMS)
Phone: 1.203.972.9200.
E-mail: jnesbett@institutionalms.com |
|
| Xfone Contact |
|
Niv Krikov
Chief Financial Officer
Phone: + 972.39254446 (Israel)
E-mail: E-mail: niv@xfone.com |
|
RETURN TO PRESS RELEASES MAIN
PAGE
|
