SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
April 22, 2003
EasyLink Services Corporation
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(Exact name of registrant as specified in its charter)
Delaware 000-26371 13-3787073
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
33 Knightsbridge Road
Piscataway, NJ 08854
(Address of principal executive offices)
Registrant's telephone number, including area code (732) 652-3500
N/A
Former Name or Former Address, if Changed Since Last Report
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ITEM 5. OTHER EVENTS
NASDAQ Hearing
EasyLink Services Corporation today announced that the Nasdaq Listing
Qualifications Panel has scheduled an oral hearing on May 15, 2003 to consider
EasyLink's request for continued listing on the Nasdaq National Market. At the
hearing, the Company intends to submit a plan that it believes will demonstrate
its ability to regain compliance with the Nasdaq requirements. There can be no
assurance the Panel will grant the Company's request for continued listing. A
decision by the Panel is typically provided within four weeks of the hearing.
EasyLink stock will continue to be listed on the Nasdaq National Market pending
the final decision of the Qualifications Panel.
The Company received a Nasdaq Staff Determination on April 8, 2003 indicating
that the Company has failed to regain compliance with Nasdaq's Marketplace Rules
4350(c) and (d)(2) which require listed companies to maintain an audit committee
of at least three members, comprised solely of independent directors. Its common
stock is therefore subject to delisting from the Nasdaq National Market. The
Company has also received notification from Nasdaq that it fails to meet the $10
million minimum stockholders equity requirement contained in Marketplace Rule
4450(a)(3) and the $1 minimum bid price requirement contained in Marketplace
Rule 4450(a)(5). The Company received an extension until June 23, 2003 to regain
compliance with the minimum bid price requirement.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: April 22, 2003
EASYLINK SERVICES CORPORATION
By: /s/ Thomas Murawski
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Thomas Murawski, Chief Executive Officer and President
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