After review of the available options, the Company's board of directors concluded that current negotiations for investment capital would, if consummated quickly, provide sufficient capital to put T3 Motion, Inc. in compliance with the Exchange's listing standards and allow T3 Motion, Inc. to retain its NYSE MKT listing. The marginal costs of the appeal and of continuing ongoing negotiations create a positive cost/benefit tradeoff. However, there can be no guarantee of finalizing a transaction or, if such a transaction is completed, of retaining the Exchange listing even if the Company improves its financial condition. In any scenario, T3 Motion, Inc. intends to remain as a fully reporting, current SEC filer with transparent accounting and proper corporate governance.
The Company will continue to update its stockholders on its progress, including, but not limited to, the status of its NYSE MKT listing. The Company's trading symbol will bear the "BC" indicator until the Company is either delisted or regains compliance with the Exchange's continued listing requirements.
About T3 Motion, Inc.
T3 Motion, Inc. (AMEX: TTTM) Headquartered in Orange County, California, T3 Motion, Inc. is dedicated to raising the bar on environmental standards and law enforcement and security capabilities in personal mobility technology. More than 3,000 T3 Series vehicles have been deployed in over 30 countries worldwide. For more information, visit www.t3motion.com."Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding T3 Motion's business, which are not historical facts, are "forward-looking statements" that are not guarantees of future performance. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, among others, factors associated with market conditions and the satisfaction of customary closing conditions related to the proposed public offering. For additional information concerning these and other factors that may cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Registration Statement filed on Form S-1, as amended, and in the periodic reports the Company files from time to time with the Securities and Exchange Commission. Company Contact Rod KellerT3 Motion, Inc.(714) 619-3600 firstname.lastname@example.org Investor Relations ContactDJ CarneyT3 Motion, Inc.(714) 619-3600 email@example.com SOURCE T3 Motion, Inc.