Omni Moved from NASDAQ to the Pink Sheets

NEW YORK--Omni Nutraceuticals (OTC BB:ZONE) has been de-listed from the NASDAQ National Market System for failing to file its late annual report (10-K) for 1999, as well as a "technical nonconformity" with a NASDAQ rule related to documents concerning Omni's recent private placement. NASDAQ had halted trading on Omni shares on Nov. 7 and de-listed the stock seven days later. The stock was sent to the minor leagues, the Over-The-Counter Bulletin Board (OTC BB), for trading as a pink sheet stock. At the time NASDAQ halted trading of ZONE, the share price was $1-5/16. On Nov. 20, ZONE shares traded at $0-6/16 on the OTC BB.

The company has 15 days to appeal the decision, which it reported it would do, but the appeal does not serve to halt the de-listing. Meanwhile, Omni vowed to file its delayed amended 10-K report as well as its delayed 10-Q (quarterly report), and promised take any other steps necessary to regain its previous listing on the NASDAQ.

For more information, call John Liviakis at (415) 389-4670.