Exhibit 99.1
FOR: GoAmerica, Inc.
CONTACTS: Investor Relations
201-996-1717
investors@goamerica.com
GOAMERICA RECEIVES EXTENSION THROUGH MAY 2004 OF
TEMPORARY EXEMPTION FROM NASDAQ'S $1 MINIMUM BID PRICE
LISTING REQUIREMENT
* * *
Hackensack, NJ--January 13, 2004-- GoAmerica, Inc. (NASDAQ: GOAM) today
announced that it received a notice from the Nasdaq Listing Qualifications Panel
extending until May 31, 2004 GoAmerica's temporary exemption from the $1.00
minimum closing bid price per share requirement for continued listing on The
Nasdaq SmallCap Market (pursuant to Nasdaq's newly amended Marketplace Rule
4310(c)(8)(D) as approved by the Securities and Exchange Commission (the "SEC")
on December 23, 2003).
In providing such additional time, the Nasdaq Listings Qualifications Panel
noted that the Company is in compliance with all other Nasdaq listing
requirements and that GoAmerica filed a preliminary proxy statement with the SEC
on December 24, 2003, pursuant to which the Company will be seeking shareholder
approval of, among other things, granting GoAmerica's Board of Directors the
discretion to implement a reverse stock split if such action is required to
maintain the Company's listing on the Nasdaq SmallCap Market.
The Company has not yet announced the date of a special meeting of stockholders
to vote on the matters presented, although it is anticipated that the meeting
will be held in mid-February. Stockholders of record as of the close of business
on December 31, 2003 will be entitled to receive notice of and vote at such
special stockholders meeting. A proxy statement will be mailed to stockholders
of record prior to the special meeting.
About GoAmerica
GoAmerica, Inc.'s aim is to improve the quality of life for people who are deaf
or hard of hearing by being their premier provider of innovative communication
services. These technology-based services are delivered through GoAmerica's
wholly owned subsidiaries, including Wynd Communications Corporation, the
leading provider of wireless telecommunications services for people with hearing
loss. Wynd Communications is a winner of the California Governor's Award for
Excellence in Universal Design and Technology and has been recognized by both
the Clinton and Bush Administrations for its commitment to Americans with
disabilities. For more information, visit www.goamerica.com or contact GoAmerica
directly at TTY 800-549-2800, voice 805-781-6000.
The statements contained in this news release that are not based on historical
fact -including the statements regarding 2003, 2004 and 2005 revenues and
profitability, subscriber metrics, the Company's plans and strategies, market
opportunities, anticipated service offerings and other future plans and
objectives, are "forward-looking statements" within the meaning of Section 21E
of the Securities Exchange Act of 1934, as amended. Forward-looking statements
may be identified by the use of forward-looking terminology such as "may",
"will", "expect", "estimate", "anticipate", "continue", or similar terms,
variations of such terms or the negative of those terms. Such forward-looking
statements involve risks and uncertainties, including, but not limited to: (i)
our limited operating history; (ii) our reduced capital resources and need for
additional liquidity; (iii) our ability to fund our operating needs through
available cash reserves; (iv) our ability to raise additional equity and
renegotiate liabilities before our cash resources are fully depleted; (v) the
impact on our business from our receiving a "going concern" opinion from our
independent auditors; (vi) our ability to successfully implement our strategic
alliance with EarthLink; (vii) our dependence on EarthLink to provide billing,
customer and technical support to our subscribers; (viii) our ability to respond
to the rapid technological change of the wireless data industry and offer new
services; (ix) our dependence on wireless carrier networks; (x) our ability to
respond to increased competition in the wireless data industry; (xi) our ability
to integrate acquired businesses and technologies; (xii) our ability to leverage
strategic alliances to generate revenue growth; (xiii) our ability to increase
or maintain gross margins, profitability, liquidity and capital resources; (xiv)
our ability to manage our remaining operations; and (xv) difficulties inherent
in predicting the outcome of regulatory processes. Such risks and others are
more fully described in the Risk Factors set forth in our filings with the
Securities and Exchange Commission. Our actual results could differ materially
from the results expressed in, or implied by, such forward-looking statements.
Each reference in this news release to "GoAmerica", the "Company" or "We", or
any variation thereof, is a reference to GoAmerica, Inc. and its subsidiaries.
"GoAmerica", "Go.Web", "Go.Web Enterprise Server", "Mobile Office", and "OnPrem"
are trademarks or service marks of GoAmerica, Inc. "WyndTell", "Deafwireless",
and "Deafwireless Superstore" are trademarks or service marks of Wynd
Communications Corporation. Other names may be trademarks of their respective
owners.
This press release is not a proxy statement and the Board of Directors of the
Company is not soliciting any proxy pursuant to this press release. The Board of
Directors presently intends to solicit proxies from the Company's stockholders,
by filing a proxy statement with the SEC and delivering the proxy statement to
the stockholders. If the Board of Directors does so, please read it carefully,
because it will contain important information about the Company and the matters
that the Board will ask the stockholders to consider and act upon. A description
of the interests of the members of the Board of Directors in the Company is set
forth in the proxy statement filed by the Company in connection with its
December 19, 2003 annual meeting of stockholders.
GoAmerica files reports, proxy statements and other information with the SEC
under the Securities Exchange Act of 1934, as amended. The SEC maintains an
Internet world wide web site at http://www.sec.gov, that provides access,
without charge, to such reports, proxy statements and other information. You can
also obtain such reports, proxy statements and other information, without
charge, from GoAmerica, by contacting Investor Relations, telephone:
201-996-1717, facsimile: 201-996-1772.
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