Airnet Communications (NASDAQ:ANCC)
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AirNet Communications Corporation (NASDAQ:ANCC), the
technology leader in base station products for wireless
communications, today announced that it has received a notice dated
February 10, 2006 from the Listing Qualifications Department of The
Nasdaq Stock Market confirming that for the last thirty consecutive
business days, the bid price of AirNet's common stock has closed below
the $1.00 minimum per share requirement for continued inclusion under
Marketplace Rule 4450(a)(5) (the "Rule"). AirNet will be provided with
180 calendar days or until August 9, 2006 to regain bid price
compliance. If at any time before August 9, 2006, the bid price for
AirNet's common stock closes at $1.00 per share for a minimum of ten
consecutive business days, the Nasdaq staff will provide notification
that it has regained compliance with the Rule.
If AirNet does not regain compliance by August 9, 2006, the Nasdaq
staff will provide AirNet with another written notification that its
common stock will be delisted. At that time, AirNet may appeal the
Nasdaq staff's determination to a Listing Qualifications Panel.
Alternatively, AirNet also has the option of applying to transfer its
common stock to the Nasdaq Capital Market if it satisfies the
requirements for initial inclusion set forth in Marketplace Rule
4310(c). If its application is approved, AirNet would then be afforded
the remainder of this market's second 180 calendar day compliance
period in order to regain compliance while on the Nasdaq Capital
Market. AirNet may also submit an application at any time during the
initial 180 day compliance period to transfer its listing to the
Nasdaq Capital Market.
About AirNet
AirNet Communications Corporation is a leader in wireless base
stations and other telecommunications equipment that allow service
operators to cost-effectively and simultaneously offer high-speed
wireless data and voice services to mobile subscribers. AirNet's
patented broadband, software-defined AdaptaCell(R) SuperCapacity(TM)
adaptive array base station solution provides a high-capacity base
station with a software upgrade path to high-speed data. The Company's
RapidCell(TM) base station provides government communications users
with up to 96 voice and data channels in a compact, rapidly deployable
design capable of processing multiple GSM protocols simultaneously.
The Company's AirSite(R) Backhaul Free(TM) base station carries
wireless voice and data signals back to the wireline network,
eliminating the need for a physical backhaul link, thus reducing
operating costs. AirNet has 69 patents issued or filed and has
received the coveted World Award for Best Technical Innovation from
the GSM Association, representing over 400 operators around the world.
More information about AirNet may be obtained by visiting the AirNet
Web site at http://www.airnetcom.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
Certain statements in this news release may constitute
forward-looking statements within the meaning of the United States
Private Securities Litigation Reform Act of 1995 (the Reform Act),
Section 27A of the United States Securities Act of 1933 and Section
21E of the United States Securities and Exchange Act of 1934. These
forward-looking statements may relate to anticipated financial
performance, management's plans and objectives for future operations,
business prospects, market conditions, financial forecasts and other
matters. All statements contained in this news release that do not
relate to matters of historical fact should be considered
forward-looking statements, and are generally identified by words such
as "anticipate", "believe", "hope", "estimate", "expect",
"intend", "plan", and "objective" and other similar expressions.
Readers should not place undue reliance on the forward-looking
statements contained in this news release. Such statements are based
on management's beliefs and assumptions and on information currently
available to management and are subject to risks, uncertainties and
changes in condition, significance, value and effect. Such risks
include the risk that AirNet may not be able to regain compliance with
minimum bid price requirements of the Nasdaq; AirNet may become
non-compliant with other Nasdaq Marketplace rules regarding continued
listing, including stockholders' equity requirements; and that AirNet
may not be able to successfully transfer to the Nasdaq Capital Market
if it does not meet initial inclusion requirements. If we are unable
to raise sufficient new additional capital or to generate sufficient
new sales, we may not be able to operate as a going concern. These and
other risks are detailed in reports and documents filed by AirNet the
United States Securities and Exchange Commission. Such risks,
uncertainties and changes in condition, significance, value and
effect, many of which are beyond AirNet's control, could cause
AirNet's actual results and other future events to differ materially
from those anticipated. AirNet does not, however, assume any
obligation to update these forward-looking statements to reflect
actual results, changes in assumptions or changes in other factors
affecting such forward-looking statements.
The stylized AirNet mark, AirNet, AdaptaCell and AirSite are
registered trademarks with the U.S. Patent and Trademark Office.
SuperCapacity(TM), RapidCell(TM) and Backhaul Free(TM) are trademarks
of AirNet Communications Corporation. Other names are registered
trademarks or trademarks of their respective companies or
organizations.