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CONTACT: Steven B. Solomon, President & CEO CT
Holdings, Inc. 214-521-3443
p 214-520-0034
f CT
Holdings Receives Additional Nasdaq Delisting Notice DALLAS,
TX - April 25, 2001 -- CT Holdings, Inc. (Nasdaq: CITN) today announced
that it received an additional Nasdaq Staff Determination on April 18,
2001 indicating that the Company fails to comply with the net tangible
assets/market capitalization/net income requirement for continued listing
set forth in Marketplace Rule 4310(c)(2)(B), and that its securities are,
therefore, subject to delisting from The Nasdaq SmallCap Market. As
previously announced by the Company on December 27, 2000 and March 23,
2001, it is also not currently in compliance with Nasdaq's minimum bid
price requirement. Any
delisting action, however, has been stayed pending the outcome of an oral
hearing before the Nasdaq Listing Qualifications Panel ("Panel")
requested by the Company. The
hearing is to be held on April 26, 2001 in Washington, D.C. In
the event the Panel determines to delist the Company's common stock, the
Company's common stock will trade on the OTC Bulletin Board's electronic
quotation system. About
CT Holdings CT
Holdings, Inc. (NASDAQ: CITN), is an incubator of early stage Internet
companies. (www.ct-holdings.com).
About
Parago Parago's
patent-pending technology platform and processes represent an innovative
approach designed to improve the promotional marketing industry.
Parago provides a range of Internet-based customer relationship
management products, PromoCenter, ValueRewards and KnowledgeCenter, that
are created to increase sales, reduce costs, enhance customer retention
for its clients, and improve loyalty. These products comprise Parago's
Continuous Customer InteractionSM model, which helps retailers,
manufacturers and service organizations reduce the cost of conducting
promotions and drive incremental revenue by cross-selling and upselling
new products and services. During
the relationship management process, Parago captures fresh, accurate, and
usable transaction and buyer demographic data that can be used by its
clients to improve their promotional marketing programs.
Parago, Inc. is a subsidiary of CT Holdings, Inc. (NASDAQ: CITN)
and maintains a web site at www.parago.com.
A
bout River Logic River
Logic, Inc. develops and supports 3rd Generation Internet Network
Solutions customized for vertical market segments. Network Solutions
contain a suite of value-added applications, management tools, and
standard network components that connect domain experts and end-users to
premium expertise knowledge that allow organizations to optimally leverage
their intellectual assets to gain decisive competitive edge. River Logic
is headquartered at 800 Cummings Center, Suite 355W, Beverly, MA 01915 and
has just added an office in Atlanta, GA located at 100 Mansell Center
East, Suite 225, Roswell, GA 30076. More information is available at www.riverlogic.com
or via email at info@riverlogic.com, or at
(978)753-5029. For
more information on CT Holdings, its Internet subsidiaries, and its
Citadel Technology line of security software products, please visit our
Web site at www.ct-holdings.com.
For information on purchasing products, contact us directly by writing or
calling: CT Holdings, 3811 Turtle Creek Blvd., Suite 770, Dallas, Texas
75219; phone: 214/520.9292; fax: 214/520.9293. Forward-Looking Statements This news release contains forward-looking statements, which involve risks and uncertainties. Accordingly, no assurances can be given that the actual events and results will not be materially different that the anticipated results described in the forward-looking statements. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statement made by us. These factors include the Company's failure to comply with Nasdaq's listing requirements, the Company's decision not to pursue continued listing on the Nasdaq SmallCap Market, a decision by the Nasdaq Listing Qualifications Panel to delist the Company's common stock from the Nasdaq SmallCap Market, and, in the event of delisting, a decision by the Company not to attempt to have its common stock traded on the OTC Bulletin Board, there may not be market makers for the shares of common stock and an active market may not continue to exist, as well as other risk factors. Investors are also encouraged to read the "Risk Factors" section of the Company's Annual Report on Form 10-KSB for the ten months ended December 31, 2000, and the Company's other filings, which are on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. #
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