GigaBeam Receives NASDAQ Notice of Noncompliance for the Quarter Ended
September 30, 2007.
Receives NASDAQ Notice of Noncompliance for the Quarter Ended September 30,
NC., December 6, 2007 - GigaBeam Corporation (NASDAQ: GGBM), deploying WiFiber®
“wireless fiber optics” technology to economic centers across the globe, today
announced that it received a Notice of Noncompliance from the NASDAQ on November
30, 2007 indicating the Company is not in compliance with the continued listing
standards. This letter was sent in response to the Company’s failure to have a
minimum of $2,500,000 in stockholders’ equity or $35,000,000 market value of
listed securities or $500,000 of net income from continuing operations for
most recently completed fiscal year or two of the three most recently completed
fiscal years, as required by Nasdaq Marketplace Rule 4310(c)(3).
WiFiber technology is similar to terrestrial fiber in terms of speed and
reliability. WiFiber has a substantial advantage over terrestrial fiber because
it can be rapidly deployed and costs significantly less to deploy than
terrestrial fiber. Terrestrial fiber can take months to deploy and also require
significant regulatory and environmental approvals prior to
WiFiber products operate in the 71-76 GHz and 81-86 GHz upper millimeter wave
spectrum bands. The Federal Communications Commission and the European
Conference of Postal and Telecommunications Administrations (CEPT) and certain
other countries have authorized this portion of the spectrum for licensed
wireless commercial use.
WiFiber® product ushers in a new era of communications by allowing customers to
bypass the restrictive telecom oligopoly and connect directly to any city's
fiber optics hub or Point-of-Presence (POP). The transformative impact of an
easily deployable, low cost alternative to fiber optics cables is difficult
overestimate, especially since WiFiber's point-to-point high-speed units
transmit data via the highest approved radio frequency at speeds equal to 647
lines or 1000 DSL lines.
GigaBeam partners, customers, and end-users include Google, Sprint, The
Department of Defense, as well as several cities and universities such as San
Francisco and Boston University. The company has implemented a strategy to
expand into major metropolitan areas around the world.
management team, which pioneered rule making in the 70GHz and 80GHz spectrum,
fully committed to augmenting current revenues through a network of authorized
dealers and resellers across North America, South America, Europe, Africa,
Middle East, India and Asia that have local expertise and established contacts.
GigaBeam is a company with market transformative wireless technology, a
pioneering management team and a worldwide network dedicated to penetrating
major metropolitan markets around the globe.
more about GigaBeam's revolutionary wireless technology, please visit
press release contains forward-looking statements that involve risks and
uncertainties. We generally use words such as "believe," "may," "could," "will,"
"intend," "expect," "anticipate," "plan," and similar expressions to identify
forward-looking statements, including statements regarding our expansion plans.
You should not place undue reliance on these forward-looking statements. Our
actual results could differ materially from those anticipated in the
forward-looking statements for many reasons, including the risks described
this press release, our annual report on Form 10-KSB and other filings we made
from time to time filed with the Securities and Exchange Commission. Although
believe the expectations reflected in the forward-looking statements are
reasonable, they relate only to events as of the date on which the statements
are made, and our future results, levels of activity, performance or
achievements may not meet these expectations. We do not intend to update any
the forward-looking statements after the date of this prospectus to conform
these statements to actual results or to changes in our expectations, except
required by law.