For Velocity Express: 71 New Sites and a NASDAQ De-Listing Letter
Velocity Express, Inc., Minneapolis, Minn., announced Tuesday it has completed a program to open 71 new service parts locations in North America
Velocity Express, Inc., Minneapolis, Minn., announced Tuesday it has completed a program to open 71 new service parts locations in North America.
However on Monday, Velocity Express issued a release saying it had received notice from Nasdaq that the company's common stock is subject to delisting from the Nasdaq Small Cap Market for failure to file a 10-K Annual Report. According to the announcement, the stock will be delisted on November 1 unless the company requests a hearing on the matter before a Nasdaq Listing Qualifications Hearings Panel by October 28, 2004.
Velocity Express in its release said it will submit such request on or before the Thursday deadline. The company's stock will remain listed on the Nasdaq Small Cap Market pending that hearing.
Velocity Express provides a nationwide network for customers desiring same day service throughout the United States. The 71 new locations will support particular Velocity Express customers. According to Tuesday’s announcement, Velocity now operates 179 service parts locations throughout North America supporting the technology, telecommunication, and material management industries.
For more information, visit www.velocityexpress.com.
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