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NewMarket Technology, Inc. Releases First Letter in Series of Updates on Acquisitions, Subsidiary Listings, Dividends and Move to a National Exchange
2/22/2008
DALLAS, TX, Feb 22, 2008 (MARKET WIRE via COMTEX News Network) --
NewMarket Technology, Inc. (OTCBB: NMKT) today released a letter from CEO Philip M. Verges. The letter is the first in a series of letters to be released over the next few weeks to provide detailed updates on the Company's plans for acquisitions after a two year hiatus, to continue with the independent listing of subsidiaries, to issue dividends and to move to a national exchange. Highlights of NewMarket related transactions have recently been released involving the company's two subsidiaries, NewMarket China, Inc. and NewMarket Latin America, Inc. , and digiMedical Solutions, Inc., Alternet Systems, Inc. (OTCBB: ALYI), Worldwide Strategies, Inc. (OTCBB: WWSG), Pegasus Wireless Corporation (OTCBB: PGSW), and Enable IPC Corporation. The upcoming series of letters will elaborate on more details related to these transactions.
The letter is included in its entirety below:
Dear Stakeholders and All Whom Have Interest in the Small Business Market:
We launched a crusade here at NewMarket over five years ago and many of you reading this letter have played an essential role in the NewMarket crusade. After creating a technology start-up ten years ago, the NewMarket founders suffered the fate of most early stage technology companies -- a severe lack of available investment capital. By 2002, after the "dotcom bubble" burst, most early stage technology companies launched within the preceding five years closed their doors. That same year, NewMarket otherwise decided to launch our crusade to change the market's perception of investments in early stage technologies by building an entirely new business model designed to build investor confidence by improving the predictability of investment performance. NewMarket's vision is to establish a recognized, respectable and repeatable early stage technology investment scenario. NewMarket is in the business of continuously introducing new technologies to new markets.
13,000 Stakeholders Contribute to NewMarket Early Stage Technology Vision
Over 13,000 retail investors have become stakeholders in the NewMarket crusade. Over 13,000 individuals have purchased and are holding stock in NewMarket. I use the word stakeholder because purchasing stock in NewMarket makes a retail investor much more than just a shareholder in another public company. We meet with hundreds of investors and shareholders every year in public forums NewMarket conducts or participates in to share what we have learned along the crusade trail and to present the map of where we plan to go next. We publish volumes of letters, emails and press releases to reach thousands more with our message. The participation of those 13,000 stakeholders has been the heart and soul of the NewMarket crusade over the past five years.
Stakeholder Frustration; Stakeholder Passion
I have the privilege of speaking with many stakeholders every year. Sometimes the conversation is initiated around a stakeholder's frustration. NewMarket has fought numerous battles along the way. Some of which we have won and some of which we have lost. While we are winning the early stage technology investment war, we are not without our causalities and injuries from lost battles. The stakeholder frustrations I encounter almost always stem from the passion that stakeholder has for the NewMarket vision and their sense that the Company could be doing more or doing something better to realize that vision. The frustrations I encounter are more than the usual shareholder frustration resulting from less than desirable stock price performance.
NewMarket stakeholder frustrations are perhaps the best measure of NewMarket's success. Stakeholders have made the Company's vision their own. They are expressing to management what management can do to be a better custodian of the vision. I too have my own frustrations and when I hear the frustrations of another stakeholder I am delighted by the passion I know we share for the NewMarket vision.
Fundamental Financial Performance Measures of Success
In addition to the stakeholders' passion for the NewMarket vision, the Company has many additional measures of success. The Company has enjoyed tremendous growth from $1 million in reported revenue in 2002 to approximately $100 million in annualized revenue today. Unlike many early stage, fast growth technology companies, NewMarket has even managed to maintain profitability throughout its rapid growth. NewMarket's growth has been recognized by being named near the top of the Deloitte Technology Fast 500 for three years running.
Globally Positioned to Flourish Through Down Economy in North America
Futhermore, notably, NewMarket has established operations in two of the world's high growth areas, namely Latin America and Asia. NewMarket began operations overseas several years ago and has core, regional systems integration businesses well established in each of those markets. NewMarket China reported $29.5 million in revenue in 2006 and has already reported $27.9 million through the first three quarters of 2007. Latin American operations had approximately $16.5 million in revenue through the first three quarters as well. Now that China's annual GDP growth of over 10% annually and Brazil's position in the world as a prime investment area are now being recognized, NewMarket is well positioned to take advantage of the regional growth with established, core systems integration businesses in each country.
Higher Purpose; Higher Profit
Additional measures of success include NewMarket's "higher purpose" contributions to the world's developing economic regions laboring against basic resource constraints to simply establish a universal standard of living. In the course of NewMarket's crusade to build a recognized, respectable and repeatable early stage technology investment scenario, the Company has discovered the opportunity to expand this crusade into the world's developing economic regions. The world's developing economic regions regularly provide retail investors better return on investment prospects, while at the same time supporting job creation where it has otherwise been difficult. The majority of NewMarket's revenue growth has come from developing economic regions in Asia and South America where the Company has likewise created hundreds of jobs.
The OTCBB as a Pioneer in the Global Small Business Market
NewMarket has great confidence in the future of the micro-cap public markets. The Over-the-Counter Bulletin Board (OTCBB) market is a pioneer in the micro-cap public world. The OTCBB is only ten years old. While other "penny" markets may have existed before to trade the stocks of small businesses, start-ups or distressed companies, the OTCBB set out to legitimize the "penny" market through standardization, regulation, and oversight. The financial market is experiencing a global proliferation of "penny" exchanges today with initiatives underway in England, France, Germany, Singapore and China, to name only a handful of more notable markets. This proliferation is in response to the financial market's increasing awareness of the return potential from small business investments. Small business accounts for the majority of the global gross domestic product (GDP) and the majority of global employment. Even in the United States, over fifty percent (50%) of domestic GDP and employment comes from small business. The small business market space has always been a vital market segment, rich with investment potential. Now, the OTCBB is pioneering the opportunity for middle income investors to participate in and benefit from the small business market space. The rest of the world's financial markets are following the OTCBB's lead. Investment in publicly listed small businesses is growing rapidly every year.
Overcoming the Pitfalls of the OTCBB; Improving the Caliber of Participants
The OTCBB is not without its pitfalls. Most investors with experience involving OTCBB listed companies have had one or more unfortunate experiences. The potential of the OTCBB to grow into a globally recognized premier small business exchange is often masked by those unfortunate experiences. The success of the OTCBB and the public small business market at large will depend not only on the regulators ability to improve the oversight process, but even more importantly on the increased caliber of small business issuers, institutional investors, and retail investors. Any place money is exchanged will inevitably attract its fair share of society's thieves attempting to profit through deceit and scam. As the benefits of any environment where money is exchanged become more recognized, the caliber of new participants improves and in turn mitigates the efforts of society's thieves.
NewMarket's Lessons Learned and Contributions to the OTCBB
NewMarket and its 13,000 stakeholders are an example of the increasing caliber of small business public market participants. The NewMarket crusade has been active for half the life of the OTCBB. Not only are we an example of the increasing caliber of participants, we are making a contribution to the overall improvement of the market. The approximate median market cap of OTCBB listed companies is $8 million and the approximate median revenue of OTCBB listed companies is $5 million. When NewMarket started on the OTCBB over five years ago, the Company's market cap and revenue were well below the OTCBB's medians. Today, the Company's approximate $40 million market cap and $100 million in annualized revenue is well above the OTCBB medians. That progress has taught the Company many lessons about the OTCBB environment. We are making a contribution by
sharing those lessons with other retail investors and other OTCBB issuers.
NewMarket's Lessons Learned and Contributions to its Stakeholders
The lessons learned are of course improving NewMarket's prospects in addition to making an overall contribution to the OTCBB at large. The specifics of NewMarket's vision to establish a recognized, respectable and repeatable early stage investment scenario include building the Company into a national exchange listed company managing a portfolio of micro-cap listed subsidiaries where subsidiary stock produces dividends for NewMarket shareholders. NewMarket's vision has never changed, though the challenges of realizing the vision have become more clear. The challenges are not insurmountable, but do require management to modify plans.
National Exchange Listing, Independent Subsidiary Listing and Dividends
NewMarket has approached a national exchange listing from a few different perspectives, to include direct listings and reverse mergers. Some of these efforts have been publicly disclosed. The Company has also approached the independent listing of subsidiary operations from a few different perspectives. We have learned a number of lessons about the complexities of consolidating the financial statements of multiple public companies, in addition to the challenges of listing foreign operations on a US exchange. We are better prepared now, more than ever before, to move forward with additional independent listings. In conjunction with the challenges of executing on plans to independently list subsidiary operations, we have faced issues with plans to issue dividends to NewMarket shareholders in conjunction with the independent listing of subsidiary operations. Again, we are better prepared now, more than ever before, to move forward with issuing dividends in conjunction with the independent listing of subsidiary operations.
A Milestone Investment and the Next Step Toward the NewMarket Vision
After five years of entrepreneurial growth, funded primarily through cash produced by operations and supplemented by ongoing founder investment, NewMarket established its first institutional investment relationship in the fourth quarter of last year. In conjunction with that investment, the Company recently filed its first registration statement in five years. The institutional investment is serving as a platform for the Company's next step toward realizing its vision.
First Edition in a Series of Stakeholder Letters
Over the next few weeks, I will release a series of letters to elaborate on the Company's updated plans to continue the independent listing of subsidiary companies in addition to expanding the portfolio of subsidiary companies through acquisition.
Highlights regarding NewMarket's Mobility Computing expansion and independent listing in addition to our attempt to acquire the operational assets of Pegasus Wireless Corporation have already been disclosed. Further details will be released within the upcoming series of letters elaborating on the Company's updated growth plans. Additional acquisition initiatives and independent listing initiatives will also be released. The series of letters will include an update on the Company's plans to list on a national exchange and the Company's updated dividend plan.
NewMarket Gratitude and Commitment to Stakeholders
All of us working here at NewMarket are excited about the Company's progress to date and enthusiastic about our anticipated progress in 2008. We are grateful for the patience, feedback and support of our stakeholders. With a market capitalization value less than the book value of the Company, we understand the frustration expressed by some of our stakeholders. We welcome that frustration as an expression of every stakeholder's commitment to the NewMarket vision and corresponding desire to see the vision realized. I have every confidence that with the execution of the updated plan, every NewMarket stakeholder will enjoy the benefit of the Company's fundamental financial value aligning with the market capitalization value. Even more substantially, I have every confidence NewMarket will continue to exemplify the best potential of the public small business marketplace through the Company's ongoing revenue growth and ongoing profitability leading to the establishment of a regular and continuous issue of shareholder dividends.
A Call to Action
I am sure many of you are investors in other publicly listed small companies. As part of NewMarket's vision and commitment to a higher purpose, I ask that you consider forwarding our letter on to the management of the other publicly listed small companies in which you invest and encourage them to contact NewMarket so we can start a dialogue to share lessons learned from our respective experiences and combine efforts to improve the market place in which we all participate.
Believe in the Small Business Marketplace,
Philip Verges
CEO
NewMarket Technology, Inc.
To be added to NewMarket's corporate e-mail list for shareholders and interested investors, please send an e-mail to ir@newmarkettechnology.com
About NewMarket Latin America, Inc. (www.newmarketlatinamerica.com)
NewMarket Latin America is a consolidated subsidiary of NewMarket Technology providing world class systems integration services through relationships with Hyperion, Oracle, SAP, SSA Global, Microsoft and many more. NewMarket Latin America has major customers in various sectors such as Oil and Gas, Consumer Products, Financial Services, and Pharmaceuticals Industries.
NewMarket Latin America deliver solutions to regional customers in addition to specializing in helping US clients expand their businesses and operations into one of the fastest growing economic regions in the world. NewMarket Latin America has offices and operations throughout Latin America.
NewMarket Latin America also identifies emerging technologies developed within the region and brings those latest technologies to market worldwide. These innovations help clients grow their businesses and gain a new competitive advantage.
About NewMarket China, Inc. (www.newmarketchina.com)
NewMarket China, Inc. is a technology leader in the rapidly developing Chinese market specializing today in software engineering, high quality software development and digital multimedia outsourcing services delivered to customers globally. At the same time, the firm is a systems integrator and value added reseller of major global hardware brands in the Chinese domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, NewMarket China bridges the gap between Western and Eastern business cultures to assist western clients in realizing the advantages of the high quality, low cost technology products and services available from China. NewMarket China also assists Western clients in localizing products and services to realize the tremendous growth potential available by expanding into the Chinese Market.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket helps clients maintain the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions such as Microsoft, Oracle, SAP, Siebel and Sun Microsystems. Concurrently, NewMarket continuously seeks to acquire emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions. Some emerging technology solutions NewMarket provides include VoIP, Broadband Wireless and Security.
NewMarket delivers its portfolio of products and services through its network of Solution Integration subsidiaries in North America and the leading emerging markets around the world to include, Latin America, China and Singapore.
NewMarket ranked Number One in Texas, Number Three in the United States and Number Five in North America on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001-2005. The Company grew from less than $1 million in revenue in 2001 to over $50 million in profitable revenue in 2005. In 2006, the company continued its rapid growth, reporting $77.6 million in revenue with a net income of $5.8 million.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause NewMarket's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com www.newmarkettechnology.com
SOURCE: NewMarket Technology, Inc.
mailto:ir@newmarkettechnology.com http://www.newmarkettechnology.com
Copyright 2008 Market Wire, All rights reserved.
Optionen
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277 Royal Poinciana Way, Suite 153
Palm Beach, FL 33480
Phone: (510) 490-8288
Fax: (561) 881-9886
Email: jayknabb@hotmail.com
Incorporated in Nevada
Entity Name: Pegasus Wireless Corporation
Entity Number: C9474-2000
Source: http://tinyurl.com/2yndm4
SEC Filings: http://www.sec.gov/cgi-bin/...-edgar?action=getcompany&CIK=0001126752
Daily Chart: 6 Months
Weekly Chart: 1 Year
Company Summary
Pegasus Wireless Corporation is a leading provider of advanced wireless solutions. Pegasus creates hardware and software solutions for broadband wireless networking and Internet access applications through its manufacturing facilities located in China and Taiwan. Pegasus' patented 802.11 technology is the platform for Wi-Fi technology, and the company offers cutting edge wireless products used in computer networking, industrial data transmission, and multimedia applications. Pegasus pioneered the industry's first driver-less, truly plug-and-play wireless Ethernet bridge, and the company's wireless networking products allow a higher user capacity per base station as compared to the competition. These products also offer advanced security, easy true plug-n-play installation, dynamic load balance, non-interrupting real-time roaming connectivity, e.g. VOIP, and fail-safe, self-healing mesh networking capability. Products are distributed through the company's facility located in California.
Outstanding Shares: 1.2 billion (2008 per Transfer Agent)
Authorized Shares: 3 billion (increased Dec 26, 2007)
Check Corporate Changes Here:
https://esos.state.nv.us/SOSServices/...ss/CorpSearch/CorpSearch.aspx
Entity Name: Pegasus Wireless Corp
Nevada Corp Number: C9474-2000
Stock Transfer Agent
Olde Monmouth Stock Transfer Company, Inc.
200 Memorial Parkway
Atlantic Highlands, NJ 07716
Phone: (732) 872-2727
Fax: (732) 872-2728
Additional Info
Yahoo: http://finance.yahoo.com/q?s=PGSW.OB
Google: http://finance.google.com/finance?q=OTC:PGSW
OTCBB.com: http://www.otcbb.com/asp/quote_module.asp?qm_page=32245&symbol=PGSW
Pinksheets.com: http://www.pinksheets.com/pink/quote/quote.jsp?symbol=PGSW
Pegasus Wireless Files For Chapter 11 Bankruptcy (January 28, 2008)
U.S. Bankruptcy Court
Southern District of Florida
West Palm Beach Division
Bankruptcy Petition #: 08-10924-PGH
Assigned to: Paul G Hyman Jr
Type: Chapter 11 - Voluntary
Date Filed: 01/28/2008
Debtor
Pegasus Wireless Corporation
277 Royal Poinciana Way, Suite 153
Palm Beach, FL 33480
Tax id: 52-2273215
Debtor Representation
Kevin C Gleason, Esq
4121 N 31 Ave
Hollywood, FL 33021
(954) 893-7670
Email: kgpaecmf@aol.com
U.S. Trustee
Office of the US Trustee
51 S.W. 1st Ave.
Suite 1204
Miami, FL 33130
(305) 536-7285
Chapter 11 Case Management Summary: http://www.4shared.com/file/37931094/146e8835/...uptcy_Statement.html
Hearing Location and Date: http://www.4shared.com/file/36611379/dbfb8d5e/...cation_and_date.html
Creditors Seeking Money: http://www.4shared.com/file/36526201/c740c95b/...tcy_w_creditors.html
Creditor Matrix: http://www.4shared.com/file/36549732/a48cec3f/...Creditor_Matrix.html
Bankruptcy Deadlines: http://www.4shared.com/file/36525951/a4d77d11/...uptcy_deadlines.html
Pegasus Wireless Requests Shareholder Vote on Restructuring Plan (July 30, 2007, Market Wire)
Pegasus Wireless announced today that a preliminary Proxy Statement was filed with the SEC on Friday, July 27, 2007. This Proxy Statement requests stockholders vote on the Company's restructuring plan, which has all the details currently available. Stockholders who hold physical shares may request to receive their Proxy electronically, once finalized, by forwarding an email to Pegasus14C@yahoo.com, with name, address, and the number of shares owned as of August 1, 2007.
Stockholders holding shares in street name must obtain the Proxy from their broker/dealer. Once finalized, Proxies of those stockholders holding physical certificates may be submitted prior to the Special Meeting (no later than 20 days after the final Proxy Statement is filed with the SEC) to the Company.
Email: PegasusProxy@yahoo.com
Fax: (561) 881-9886
Mail: 277 Royal Poinciana Way, Suite 153, Palm Beach, FL 33480
Web site: www.pegasuswirelesscorp.com
Email: Pegasus14C@yahoo.com
Source: http://biz.yahoo.com/iw/070730/0283967.html
Pegasus Wireless Files SEC Schedule 14-A: Preliminary Shareholder Proxy Statement (July 27, 2007)
"To the Shareholders:
Notice is hereby given that the 2007 Special Meeting of shareholders of Pegasus Wireless Corp., a Nevada corporation, (the "Company"), will be held at the Hilton Palm Beach Airport, 105 Australian Ave., West Palm Beach, FL 33406 (561-684-9400), on August __, 2007 (a date at least 20 days after the notice is to be forwarded) at 10:00 a.m. for the following purposes:
1. Ratification of the Amended and Restated Articles of Incorporation of the Company, as attached as an Exhibit to this Proxy Statement; and Approval of the Company's Restructuring Plan as more fully described in this Proxy Statement; and,
2. To transact any and all other business that may properly come before the Meeting.
All shareholders of record at the close of business on August 1, 2007 are entitled to notice of this special meeting and to vote.
WE ARE ASKING YOU FOR A PROXY AND YOU ARE REQUESTED TO SEND US A PROXY (SEE EXHIBIT D) TO REQUEST TO RECEIVE THIS PROXY STATEMENT ELECTRONICALLY PLEASE EMAIL THE COMPANY AT: Pegasus14C@yahoo.com
TO PROVIDE YOUR PROXY VOTE ELECTRONICALLY, PLEASE FORWARD IT VIA EMAIL TO THE COMPANY AT: PegasusProxy@yahoo.com
By order of the Board of Directors,
Jasper Knabb, Chief Executive Officer
Stephen Durland, Secretary, Chief Financial Officer
The Restructuring Plan:
The Company has closed its manufacturing facility in Freeport, Grand Bahama, The Bahamas and relocate all manufacturing to its subsidiaries, Cnet in the Peoples Republic of China and SKI in the Republic of China.
The Company will sell its 51% ownership of the AMAX companies, Cnet and SKI, to three separate publicly traded companies in a stock for stock exchange and subsequently issue as a property dividend to the Pegasus shareholders the shares received in each of these three transactions. The dividend dates and ratios of shares distributed for Pegasus shares owned for these distributions will be declared within a reasonable time frame prior to the actual distribution dates.
Pegasus is seeking a buyer for its intellectual property at this time.
Pegasus is also seeking management teams for each of these spin-off entities.
Current Pegasus management and directors do NOT intend to remain with these spun off entities.
Current Pegasus management and directors are also seeking a Management team for Pegasus to assume control subsequent to the completion of this restructuring.
The Board of Directors has determined that it is in the best interest of the stockholders to cancel the 2006 warrants, because it is highly unlikely that any will ever be exercised and the Company has received conflicting opinions as to the effect of the December 2006 reverse split upon these warrants.
Pegasus management has not at this time identified the corporations which will be utilized to spin off subsidiaries, nor the ratios of spin off entity shares to Pegasus shares held at dividend dates. In addition, current management is
evaluating issues related to regulatory and tax implications and ramifications related to this restructuring.
The Company has no employment agreements with its executive officers.
Source: http://www.sec.gov/Archives/edgar/data/1126752/...07-000100-index.htm
Company Flagship Product: Cynalynx
PC Magazine - Cynalynx Product Review (May 3, 2007): http://www.pcmag.com/article2/0,1895,2123912,00.asp
PC Magazine - Comparison of Cynalynx to Other Wireless Media Devices: http://www.pcmag.com/category2/0,1874,924250,00.asp
Cynalynx Distributor: http://www.ramelectronics.net/html/WiJet-Cynalynx.htm
Pending Lawsuits Against Pegasus Wireless
Mitchell vs. Pegasus Wireless: http://securities.stanford.edu/1036/PGWC_01/
Pournaras vs. Pegasus Wireless: http://dockets.justia.com/docket/court-candce/...04600/case_id-195607
Keller vs. Pegasus Wireless: http://tinyurl.com/yotfsb
Tsao vs. Pegasus Wireless: http://www.sccaseinfo.org/pa5.asp?full_case_number=1-06-CV-070797
Court docs: http://i273.photobucket.com/albums/jj226/albinocat55
Convertible Debt and Share Dilution Issue
Company officers issued shares to pay 2-year convertible notes entered in 2003 and matured in 2005.
The convertible notes were allegedly acquired from a shell company that has not been disclosed to date.
2006 Q3: 26,380,080 shares (pre-split) issued for $263,800.80 convertible debt (See 10-Q report filed Nov 22, 2006)
2006 Q4: 10,500,000 shares (pre-split) issued for $105,000.00 convertible debt (See 10-K report filed April 3, 2007)
2007 Q1: 13,000,000 shares (post-split) issued for $130,000.00 convertible debt (See 10-Q report filed May 21, 2007)
2007 Q2: 7,300,000 shares (post-split) issued for $70,300.00 convertible debt (See 10-Q report filed August 15, 2007)
2007 Q3: 5,000,000 shares (post-split) issued for $50,000.00 convertible debt (See 10-Q report filed November 19, 2007)
Total shares issued to pay convertible debt to date: 32,676,016 shares (post-split figure); 163,380,080 shares (pre-split figure)
Total outstanding shares (as of November 19, 2007): 46,908,848 shares (post-split figure); 234,544,240 shares (pre-split figure)
Share dilution due to convertible debt: 32,676,016 shares / 46,908,848 shares = 70% of outstanding shares (as of November 19, 2007)
Summary
Approximately 70% of the outstanding shares at the end of Q3-2007 (46,908,848 shares) were issued by company officers to pay a convertible debt of $621,800.80 at a rate of $0.01 per share.
Company officers have not disclosed the name of the convertible note holder or which acquired shell company had taken on this convertible debt.
Company officers have not informed shareholders of any attempt on their part to disqualify the convertible debt since it was not disclosed at time of settlement when a shell company was acquired.
Note: Company officers approved a 5-for-1 reverse share split effective on December 11, 2006. The stock was voluntarily de-listed from the NASDAQ Exchange on this date and the stock symbol was changed from PGWC to PGSW for unknown reasons.
Stock listed on NASDAQ Exchange on April 21, 2006
http://www.nasdaq.com/reference/200607/market_open_072106.stm
Note: Pegasus Wireless (PGSW, formerly PGWC) was a NASDAQ-listed company from April 21, 2006 to December 11, 2006
NASDAQ CEO Signature Series Video Interview with Jasper Knabb, CEO (July 21, 2006)
* http://www.nasdaq.com/investorscenter/ceodefault.stm
* Windows Player: http://origin.vcall.com/console/getStream.asp?ID=109178
* Real Player: http://origin.vcall.com/console/getStream.asp?ID=109179
NASDAQ Listing Timeline and Events
Apr 21, 2006: Pegasus Wireless begins trading on the NASDAQ Exchange under symbol PGWC.
June 30, 2006: Russell 2000/3000 Index funds automatically purchase shares of PGWC.
July 20, 2006: PGWC rings the opening bell at the NASDAQ Exchange
Aug 28, 2006: Russell 2000/3000 Index fund re-balancing.
Sep 25, 2006: Pegasus Wireless releases PR (8-K not filed) to announce plans to voluntarily de-list from the NASDAQ Exchange.
Oct 17, 2006: Pegasus Wireless files SEC Form 25 to end listing from NASDAQ Exchange.
Dec 11, 2006: Pegasus Wireless is voluntarily de-listed from NASDAQ Exchange at end of trading day. Stock symbol changed from PGWC to PGSW.
Amax Engineering Corporation (Fremont, CA)
Pegasus Wireless acquired a 51% controlling interest of Amax Engineering on December 22, 2005.
Amax Engineering Corporation
1565 Reliance Way
Fremont, CA 94539, USA
Phone: (510) 651-8886
Fax: (510) 651-4119
Toll free: (866) 626-2948
E-mail: aitsales@amax.com
Web site: http://www.amax.com/amaxres/home.asp (Engineering)
Web site: http://www.amaxit.com (Information Technology)
Amax in the news: http://www.crn.com/white-box/202101618
Sources:
http://www.sec.gov/Archives/edgar/data/1126752/...05-000301-index.htm
http://www.sec.gov/Archives/edgar/data/1126752/...s-8k_122005ex99.txt
~ Fair Winds and Following Seas ~
http://www.browniedive.com/pdf/magazine_articles/showboats_0107_e.pdf
