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PRESS RELEASES
DULUTH, Ga., Aug. 22 /PRNewswire-FirstCall/ -- Wegener Corporation
(Nasdaq: WGNR) today announced that on August 21, 2008 it received a notice
from Nasdaq indicating that, for the last 30 business days, the bid price of
the Company's common stock has closed below the minimum $1.00 per share
requirement for continued inclusion under Marketplace Rule 4310(c)(4) (the
"Rule"). Therefore, in accordance with Marketplace Rule 4310(c)(8)(D), the
Company will be provided 180 calendar days, or until February 17, 2009, to
regain compliance. If, at any time before February 17, 2009, the bid price of
the Company's common stock closes at $1.00 per share or more for a minimum of
10 consecutive business days, the Company will be provided written
notification that it complies with the Rule.
If compliance with the Rule cannot be demonstrated by February 17, 2009,
the Nasdaq staff will determine whether the Company meets The Nasdaq Capital
Market initial listing criteria as set forth in Marketplace Rule 4310(c),
except for the bid price requirement. If the Company meets the initial
listing criteria, the Nasdaq staff will notify the Company that is has been
granted an additional 180 calendar day compliance period. If the Company is
not eligible for an additional compliance period, the Nasdaq staff will
provide written notification that the Company's securities will be delisted.
At that time, the Company may appeal the Nasdaq staff's determination to
delist its securities to a Listing Qualifications Panel.
ABOUT WEGENER
WEGENER(R) (Wegener Communications, Inc.), a wholly-owned subsidiary of
Wegener Corporation (Nasdaq: WGNR), is an international provider of digital
solutions for video, audio, and IP data networks. Applications include IP data
delivery, broadcast television, cable television, radio networks, business
television, distance education, business music and financial information
distribution. Compel(R), WEGENER's patented network control system, provides
networks with unparalleled ability to regionalize programming and commercials.
Compel(R) network control capability is integrated into WEGENER(R) digital
satellite receivers. WEGENER(R) can be reached at +1.770.814.4000 or on the
World Wide Web at http://www.wegener.com .
WEGENER, COMPEL, COMPEL CONTROL, iPUMP, MEDIAPLAN, UNITY, ASSURED FILE
DELIVERY, PANDA, PROSWITCH, VIDATA, the stylized W-design logo (for
WEGENER(R)), the stylized C-design logo (for Compel(R)) and the stylized PANDA
design logo are all registered trademarks of WEGENER(R). All Rights Reserved.
This news release may contain forward-looking statements within the
meaning of applicable securities laws, including the Private Securities
Litigation Reform Act of 1995, and the Company intends that such
forward-looking statements are subject to the safe harbors created thereby.
Forward-looking statements may be identified by words such as "believes,"
"expects," "projects," "plans," "anticipates," and similar expressions, and
include, for example, statements relating to expectations regarding future
sales, income and cash flows. Forward-looking statements are based upon the
Company's current expectations and assumptions, which are subject to a number
of risks and uncertainties including, but not limited to: customer acceptance
and effectiveness of recently introduced products, development of additional
business for the Company's digital video and audio transmission product lines,
effectiveness of the sales organization, the successful development and
introduction of new products in the future, delays in the conversion by
private and broadcast networks to next generation digital broadcast equipment,
acceptance by various networks of standards for digital broadcasting, the
Company's liquidity position and capital resources, general market conditions
which may not improve during fiscal year 2008 and beyond, and success of the
Company's research and development efforts aimed at developing new products.
Discussion of these and other risks and uncertainties are provided in detail
in the Company's periodic filings with the SEC, including the Company's most
recent Annual Report on Form 10-K. Since these statements involve risks and
uncertainties and are subject to change at any time, the Company's actual
results could differ materially from expected results. Forward-looking
statements speak only as of the date the statement was made. The Company does
not undertake any obligation to update any forward-looking statements.
SOURCE Wegener Corporation
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