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Letter to the Editor
Tuesday January 2
driversshield.com Receives Notification of Delisting From Nasdaq and Signs Pilot Program Agreement With One of the Nation's Top Ten Insurers
PLAINVIEW, N.Y. -- driversshield.com Corp., formerly First Priority Group, has announced that it has received notification from NASDAQ that it has failed to maintain a minimum bid price of at least $1.00 for 30 consecutive trading days as required by the Marketplace Rules. Therefore, in accordance with the Marketplace Rules, the Company will be provided 90 days, or until March 27, 2001 to regain compliance. If at any time before March 27, 2001, the bid price of the Company's stock is at least $1.00 for a minimum of 10 consecutive trading days, NASDAQ staff will determine if the Company complies with the rules. However, if the Company is unable to demonstrate compliance with the rules on or before March 27, 2001, NASDAQ staff will provide the Company with written notification pursuant to the Marketplace Rules that NASDAQ staff has determined to delist its common stock. At that time the Company may request a review of NASDAQ staff's determination pursuant to the Marketplace Rules.
The Company's Board of Directors will meet before the end of January to determine its ability to regain compliance.
driversshield.com Corp. also has announced that it signed an agreement on December 15 to begin a regional pilot program with one of the nation's largest and best-known insurers. Because of a non-disclosure clause in the agreement, the Company is prohibited from releasing the name of the insurer at this time. The Company believes it will be able to release the name of the insurer after the pilot program gets under way by the end of January.
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