Eagle Broadband to Trade on the OTC Market
March 28 2007 - 4:06PM
Business Wire
Eagle Broadband, Inc. (AMEX: EAG), a leading national provider of
broadband, Internet protocol (IP) and communications technology and
services, today announced that the company�s Board of Directors has
determined not to pursue the hearing before the Listing
Qualifications Panel of the American Stock Exchange (the �Amex�)
regarding the continued listing of the company�s stock, which was
scheduled for March 29, 2007. The company notified the Amex of the
Board�s determination on March 27, 2007 and anticipates that its
stock will be removed from listing on the Amex effective Monday,
April 9, 2007. The company expects its stock to begin trading on
the over-the-counter market at market open on Monday, April 9,
2007. The company anticipates that its stock will be quoted on the
Over-the-Counter Bulletin Board, provided that a market maker in
the common stock files the appropriate application with, and such
application is cleared by, the NASD. Quotations should continue to
be available on financial websites such as Yahoo! Finance and
Google Finance. The company will announce the new trading symbol
for its common stock once it has been assigned. Jim Reinhartsen,
Eagle�s Chairman said, �Following a careful analysis, we believe it
is the best interest of the company and its shareholders that we
not pursue the delisting hearing. Having the stock trade on the
over-the-counter market will have no effect on our operations, and
we�ll also realize significant cost savings. Eagle will continue to
file all required SEC reports and remain a fully reporting
company.� About Eagle Broadband, Inc. Eagle Broadband is a
technology company that develops and delivers products and services
in three core business segments: IPTV -- Eagle Broadband�s
IPTVComplete� provides direct access to more than 250 channels of
high-demand programming from popular entertainment providers, often
using Eagle�s high-definition, set-top boxes. SatMAX� -- Eagle
Broadband�s SatMAX provides indoor/outdoor communications utilizing
the global Iridium-based (www.iridium.com) satellite communications
system. It offers both fixed and mobile solutions, including the
emergency first responder SatMAX Alpha �SatMAX-in-a-suitcase�
technology. IT Services - Eagle Broadband's IT Services Group is a
full-service integrator offering a complete range of network
technology products including VoIP, remote network management,
network implementation services and IT project management services.
For more information on Eagle Broadband, visit
www.eaglebroadband.com. EAGG Forward-looking statements in this
release regarding Eagle Broadband, Inc., are made pursuant to the
�safe harbor� provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties,
including, without limitation, the company�s ability to continue as
a going concern, the company�s liquidity constraints and ability to
obtain financing and working capital on favorable terms, the
continued acceptance of the company�s products, increased levels of
competition, new products and technological changes, the company�s
dependence upon third-party suppliers, intellectual property
rights, and other risks detailed from time to time in the company�s
periodic reports filed with the Securities and Exchange Commission.
Eagle Broadband (AMEX:EAG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Eagle Broadband (AMEX:EAG)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about American Defense Systems, Common Stock (American Stock Exchange): 0 recent articles
More Eagle Broadband, Inc. News Articles