VitalStream Holdings Not to Effect Reverse Split by Year End
December 02 2004 - 7:30AM
PR Newswire (US)
VitalStream Holdings Not to Effect Reverse Split by Year End
IRVINE, Calif., Dec. 2 /PRNewswire-FirstCall/ -- VitalStream(R)
Holdings, Inc. (OTC:VSTH) (BULLETIN BOARD: VSTH) , the parent
company of VitalStream, Inc., a global provider of integrated
content delivery and streaming media services, said today that it
will not effect a reverse split of its common stock in December
2004. The Company's current authorization to enact a reverse split
was approved by the Company's shareholders at the Annual Meeting of
Shareholders held on June 28, 2004, and expires on December 31,
2004. "The Company has not acted upon the authorization and does
not intend to do so prior to its expiration at year-end," said
Phillip N. Kaplan, president and chief operating officer. "Based on
our continuing revenue growth, including a 51 percent increase in
year-over-year revenues in the third quarter, we believe that the
Company has a promising future through both growing demand for our
products and services, and through strategic M&A opportunities.
We are confident that the market will recognize the value of our
Company in the months ahead, and we intend to achieve listing on
the NASDAQ Small Cap Market or another national exchange in the
second quarter of 2005," Kaplan added. About VitalStream, Inc.
VitalStream, Inc., a wholly-owned subsidiary of VitalStream
Holdings, Inc. (OTC:VSHT) (BULLETIN BOARD: VSHT) , is a global
provider of integrated content delivery services that enable
businesses to broadcast their digital media and communications to
worldwide audiences via the Internet. The Company provides complete
solutions, including audio and video streaming, live event
broadcasting, media asset management, integrated web hosting and
consulting services, that seamlessly integrate with today's leading
streaming media technologies. To ensure a worldwide reach,
VitalStream engineered its award- winner content delivery network
certified for quality delivery in the United States, Europe and
Asia. For more information, call 800-254-7554, or visit
http://www.vitalstream.com/. Forward-Looking Statements This news
release may contain certain "forward-looking statements" within the
meaning of Sections 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These statements are
based on management's current expectations and are subject to
uncertainty and changes in circumstances. Actual results may vary
materially from the expectations contained in the forward-looking
statements. Forward-looking statements may include statements
addressing future financial and operating results of the company.
The following factors, among others, could cause actual results to
differ materially from those described in any-forward looking
statements: The risk that the Company's revenue may decrease on a
year over year basis because of a slower than projected growth in
the demand for digital broadcast and streaming services; the risks
that the Company's existing customers may cease to use the
Company's services and/or may not use the Company's services at the
projected rate; uncertainties regarding the future demand for the
Company's products and services generally; the risks that the trend
toward increasing broadband penetration may not continue; the risk
that the Company may not satisfy the minimum bid requirement or
other listing requirements for Nasdaq or an exchange or may
otherwise be prohibited from listing its common stock; the risk
that the Company may not be able to find suitable acquisition or
other business combination transactions, or upon completing such
transactions, successfully integrate the acquired businesses; the
risk that the Company may be unable to obtain additional capital
necessary to continue operations and fuel growth or obtain it at
favorable rates; and/or uncertainties regarding our ability to
pursue our proposed business strategy. More detailed information
about these factors and others is set forth in the Company's
filings with the Securities and Exchange Commission, including its
most recent Annual Report on Form 10-K and Quarterly Report on Form
10-Q. Such forward- looking statements speak only as of the date of
this release. The Company is under no obligation (and expressly
disclaims any obligation) to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise. Vital Stream is a registered trademark of VitalStream,
Inc. All other trademarks are property of their respective holders.
For further information please contact Mark Belzowski of
VitalStream, Inc., +1-949-743-2000, ; or Neal Rosen of Kalt Rosen
& Co. LLC, +1-415-397-2686, , for VitalStream Holdings, Inc.
DATASOURCE: VitalStream Holdings, Inc. CONTACT: Mark Belzowski of
VitalStream, Inc., +1-949-743-2000, ; or Neal Rosen of Kalt Rosen
& Co. LLC, +1-415-397-2686, , for VitalStream Holdings, Inc.
Web site: http://www.vitalstream.com/
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