Wegener Corporation to Terminate Registration as a Public Company
(Marketwire Via Acquire Media NewsEdge) JOHNS CREEK, GA -- (Marketwire) -- 11/19/12 --
Wegener Corporation (OTCQB: WGNR) (the "Company"), a provider of equipment for digital signage, television, audio, and data distribution networks worldwide, today announced that it will be terminating its registration as a public company.
The Company's Board of Directors has unanimously determined that termination of the Company's registration as a public company under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), is in the Company's best interests. The Board reached its determination after a careful analysis of the benefits of public registration versus the significant on-going costs of registration, particularly for smaller registrants such as the Company. Accordingly, the Company will be filing a Certification and Notice of Termination of Registration on Form 15 with the Securities and Exchange Commission ("SEC") on Monday, November 19, 2012. Upon such filing, the Company's duty to file any reports required under Section 13(a) of the Exchange Act with the SEC shall be suspended immediately. Official termination of the Company's registration shall take effect 90 days after such filing, or such shorter period as the SEC may determine.
"We are continuing to pursue all booking opportunities as we seek additional financing for the Company," stated Troy Woodbury, President and CEO of Wegener Corporation. "We believe there are good domestic and international opportunities for Wegener products and services in the radio, broadcast television, business networks, and digital signage markets. Our goals are to focus on business opportunities and keep a tight control on expenses as we move forward as a non-reporting company."
WEGENER® (Wegener Communications, Inc.), a wholly-owned subsidiary of Wegener Corporation (OTCQB: WGNR), is an international provider of digital video and audio solutions for broadcast television, radio, telco, private and cable networks. With over 30 years experience in optimizing point-to-multipoint multimedia distribution over satellite, fiber, and IP networks, WEGENER offers a comprehensive product line that handles the scheduling, management and delivery of media rich content to multiple devices, including video screens, computers and audio devices. WEGENER focuses on long- and short-term strategies for bandwidth savings, dynamic advertising, live events and affiliate management.
WEGENER's product line includes: iPump® media servers for file-based and live broadcasts; COMPEL® Network Control and COMPEL® Conditional Access for dynamic command, monitoring and addressing of multi-site video, audio, and data networks; and the Unity® satellite media receivers for live radio and video broadcasts. Applications served include: digital signage, linear and file-based TV distribution, linear and file-based radio distribution, Nielsen rating information, broadcast news distribution, business music distribution, corporate communications, video and audio simulcasts.
WEGENER® can be reached at (770) 814-4000 or at www.wegener.com.
WEGENER is on Twitter. Sign up to follow @WEGENER at http://twitter.com/wegener.
WEGENER, COMPEL, COMPEL CONTROL, iPUMP, MEDIAPLAN, UNITY, ASSURED FILE DELIVERY, PROSWITCH, VIDATA, the stylized W-design logo (for WEGENER®), and the stylized C-design logo (for Compel®) are all registered trademarks of WEGENER®. 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 2013 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.
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Source: Wegener Corporation
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