Proshares Ultrashort Telecommunications (AMEX:TLL)
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From Jul 2019 to Jul 2024
Teletouch Communications, Inc. (AMEX:TLL) reconfirmed
its prior guidance that the Company will amend and restate its
financial statements for the fiscal years ended May 31, 2002 and 2003,
respectively, consistent with its understanding with the SEC staff.
Specifically, the Company expects to file its Form 10-K for the fiscal
year ended May 31, 2004 containing its amended and restated
Consolidated Statement of Operations for the years ended May 31, 2002
and 2003, and Consolidated Balance Sheet as of May 31, 2002 and 2003
on or soon after the end of September 2005. The Company further
restated that it appeared that there would be no impact on the
Company's results of operations, financial position or cash flows for
the years ended May 31, 2004 and 2005, respectively.
In the interim, the Company urged investors and other users of the
Company's SEC filings not to rely on the Company's financial
statements for the years ended May 31, 2002 and 2003, to the extent
they are affected by the previously announced accounting issues. Also,
as previously announced, the Annual Report on Form 10-K for its fiscal
year ended as of May 31, 2005, has not been filed due to the
anticipated restatement of the Company's Consolidated Statement of
Operations for the years ended May 31, 2002 and 2003 and its
Consolidated Balance Sheet as of May 31, 2002 and 2003.
The readers of this press release are urged to read carefully the
Company's previous public announcements and regulatory filings with
the Securities and Exchange Commission, including the press release
and a Current Reports on Form 8-K filed with the Securities and
Exchange Commission, both dated September 2 and 7, 2005 respectively.
About Teletouch
Teletouch Communications, Inc., a proven U.S. leader in wireless
messaging and related network management, provides a complete suite of
mobile asset tracking solutions using sophisticated, yet
cost-effective GPS-based hardware and software products for fleets,
hazardous materials and "worker-down" emergency notification
applications. In addition to its telemetry business, Teletouch offers
two-way radio communications, cellular and wireless messaging services
throughout the United States. Teletouch's common stock is traded on
the American Stock Exchange under stock symbol: TLL. Additional
product, business and financial information for Teletouch is available
at www.Teletouch.com.
This release contains certain "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Exchange Act, as amended, that are based on
management's exercise of business judgment as well as assumptions made
by and information currently available to management. When used in
this document, the words "may," "will," "anticipate," "believe,"
"estimate," "expect," "intend" and words of similar import, are
intended to identify any forward-looking statements. You should not
place undue reliance on these forward-looking statements. Negotiations
with respect to the transaction that are the subject of this release
are ongoing and may result in significant modifications to the
transaction. There can be no assurance that the transaction that is
the focus of this release will be concluded, or if concluded that it
will be concluded on terms currently contemplated. These statements
reflect our current view of future events and are subject to certain
risks and uncertainties as noted in our securities and other
regulatory filings. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, our
actual results could differ materially from those anticipated in these
forward-looking statements. We undertake no obligation and do not
intend to update, revise or otherwise publicly release any revisions
to these forward-looking statements to reflect events or circumstances
after the date hereof or to reflect the occurrence of any
unanticipated events. Although we believe that our expectations are
based on reasonable assumptions, we can give no assurance that our
expectations will materialize. Many factors could cause actual results
to differ materially from our forward-looking statements.