Geoworks Corporation Press Release Regarding Nasdaq Delisting Notice and Appeal (September 2002)

Summary

Geoworks Corporation announced it received notice from Nasdaq that its securities would be delisted from the Nasdaq Smallcap Market due to non-compliance with minimum bid and net equity requirements. The company has appealed this decision and will propose a plan to delay delisting, but expects its securities will ultimately be delisted after a panel hearing within 30 to 45 days. The press release also provides background on Geoworks and cautions that forward-looking statements are subject to risks and uncertainties.

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EX-10.3 3 d51869_ex10-3.txt PRESS RELEASE Exhibit 10.3 PRESS RELEASE - -------------------------------------------------------------------------------- Tim Toppin Contact ###-###-#### ***@*** - -------------------------------------------------------------------------------- GEOWORKS RECEIVES NOTICE OF NASDAQ DELISTING AND APPEALS EMERYVILLE, Calif., September 4, 2002 -- Geoworks Corporation (Nasdaq Smallcap: GWRX) announced today that on August 29, 2002 it received notice from Nasdaq that its securities would be delisted from the Nasdaq Smallcap Market on September 6, 2002, primarily due to non-compliance with the minimum bid and minimum net equity rules, unless the Company appealed this staff determination. The Company filed an appeal on September 4, 2002. Although the Company will propose a plan to Nasdaq that delays delisting, the Company continues to expect that its securities will be delisted after the Panel hearing, which is anticipated to take place within 30 to 45 days. About Geoworks Geoworks Corporation is a provider of leading-edge software design and engineering services to the mobile and handheld device industry. With nearly two decades of experience developing wireless operating systems, related applications and wireless server technology, Geoworks has worked with industry leaders in mobile phones and mobile data applications including Mitsubishi Electric Corporation and Nokia. Based in Emeryville, California, the company also has a European development center in the United Kingdom. Additional information can be found on the World Wide Web at http://www.geoworks.com. This press release contains forward-looking statements within the meaning of the federal securities laws including statements regarding Geoworks' current expectations. These statements involve risks and uncertainties that could cause actual results and events to differ materially from those currently expected or desired, including risks related to delisting and illiquidity. Additional discussion of these and other factors affecting the Company's business and prospects is contained in the Company's periodic filings with the Securities and Exchange Commission, including its quarterly report on form 10-Q for its first fiscal quarter ended June 30, 2002.