MIDDLETOWN, R.I., March 20 /PRNewswire-FirstCall/ -- Towerstream (BULLETIN BOARD: TWER) .
On March 19, 2007, the Company filed a Current Report on Form 8-K/A (the "Form 8-K/A") (File No. 333-131087) reporting full-year results for the 2006 and 2005 fiscal years for its newly-acquired Towerstream business through December 31.
During January 2007 the Company acquired its present operations and completed a $15 million financing and began trading under the symbol "TWER" on the OTC Bulletin Board. In addition, the Company previously changed its fiscal year-end to December 31 from November 30. On March 13, 2007, the Company filed its Annual Report on Form 10-KSB for the period ended November 30, reporting its operations prior to the acquisition of the business of Towerstream. The per share year-end information reported in the Form 8-K/A filed March 19, 2007 for the acquired business excludes adjustments that would have reflected the subsequent recapitalization since the Company's acquisition occurred following the fiscal year end. The current per share information has been reflected in the Company's prior earnings release dated March 20, 2007.
About Towerstream
Towerstream (BULLETIN BOARD: TWER) is a leading fixed wireless service provider in the U.S., delivering high-speed Internet access to businesses. Founded in 1999, the company has established networks in markets such as New York City, Los Angeles, Chicago, San Francisco, Seattle, Miami, the greater Boston area, and Providence and Newport, R.I., and continues to expand coverage throughout the country. The company was the first carrier selected to join the WiMAX Forum to assist leading vendors in establishing industry compliance with international broadband wireless access standards and cross- vendor interoperability. For more information on Towerstream, please visit the website at: http://www.towerstream.com/.
Safe Harbor
Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The company undertakes no obligation to publicly release statements made to reflect events or circumstances after the date hereof.
