Aether (NASDAQ:AETH)
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From Jun 2019 to Jun 2024
Aether Systems, Inc. and Aether Holdings, Inc.
(Nasdaq:AETH) reported today that they have completed the corporate
reorganization first publicly proposed on May 4, 2004, the primary
purpose of which is to help protect the long-term value of its
substantial net operating and capital loss carryforwards. The
reorganization was approved at the 2005 Annual Meeting of Stockholders
on July 12, 2005. As a result of the reorganization, stockholders of
Aether Systems will receive one share of common stock of Aether
Holdings, Inc. in exchange for each share of common stock of Aether
Systems that they own.
The common stock of Aether Holdings, Inc. is listed on the Nasdaq
National Market under the symbol "AETH" - the same symbol under which
the common stock of Aether Systems, Inc. was previously listed. The
common stock of Aether will cease to trade at the close of the market
today.
Aether Holdings said it will shortly mail to all stockholders
instructions regarding the process of exchanging their Aether common
stock for common stock of Aether Holdings. As described in detail in
the proxy statement/prospectus first mailed to stockholders on or
about May 31, 2005, the common stock of Aether Holdings carries the
same rights and obligations as common stock of Aether Systems, except
that the Aether Holdings common stock is subject to certain transfer
restrictions intended to help protect the long-term value of Aether's
tax loss carryforwards.
Aether Systems, Inc. also reported that at its Annual Meeting of
Stockholders, the stockholders reelected each of the seven existing
directors of Aether Systems, Inc. for a one year term and approved the
appointment of KPMG LLP as the company's independent auditor. Aether
Systems also confirmed its previously announced expectation that its
operations for the second fiscal quarter will be cash positive.
Forward-Looking Statement Disclosure
This press release contains "forward-looking statements," as such
term is used in the Securities Exchange Act of 1934, as amended. Such
forward looking statements include those regarding the expectations of
the Company about the future use of tax loss carryforwards and the
effect of the transfer restrictions imposed on the common stock of the
Company. When used herein, the words "anticipate," "believe,"
"estimate," "intend," "may," "will," and "expect" and similar
expressions as they relate to the Company or its management are
intended to identify such forward-looking statements. Forward-looking
statements are based on current expectations and assumptions, which
are subject to risks and uncertainties. They are not guarantees of
future performance or results. The Company's actual results,
performance or achievements could differ materially from the results
expressed in, or implied by, these forward-looking statements. Factors
that could cause or contribute to such differences include: (1) we may
not be able to realize value from our accumulated loss carryforwards,
because of a failure to generate sufficient taxable earnings,
regulatory limits or both, (2) the transfer restrictions applicable to
the common stock of Aether Holdings may not prevent an ownership
change from occurring or may not be considered effective by the
Internal Revenue Service, in which case our ability to use our loss
carryforwards could be substantially limited and (3) other factors
discussed in our filings with the SEC. The Company undertakes no
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.