ATLANTA, March 23 /PRNewswire/ -- Preferred Networks, Inc. (Nasdaq: PFNT)
(PNI), a leading outsourcing services provider to the wireless industry, today
announced that it has been notified by The Nasdaq Stock Market that effective
with the close of business March 22, 1999, the company's common stock was
delisted. The delisting is a consequence of the company's failure to meet
certain standards for continued listing, including the net tangible assets and
minimum bid price requirements for the Nasdaq National Market.
The company's securities are now trading on the OTC Bulletin Board. The
OTC Bulletin Board is a regulated quotation service that displays real-time
quotes and last-sale price and value information in over-the-counter (OTC)
equity securities. Information about the OTC Bulletin Board is available on
the Internet at http://www.otcbb.com .
Mark H. Dunaway, CEO of PNI, said, "We do not believe that the move from
the Nasdaq Market will have an impact on the buying and trading of PNI stock.
We will continue to implement our business strategy and newly developing
service offerings."
Preferred Networks, Inc., headquartered in metropolitan Atlanta, provides
outsourcing solutions to the wireless industry which allow companies to offer
branded wireless services directly to subscribers, while relying on PNI to
provide high-quality network, technical, and product services. PNI offers its
services through its Access Services Division, a provider of wholesale paging
network services and information services technical support, and through its
wholly owned subsidiaries: Preferred Technical Services, Inc., a provider of
paging network equipment installation, maintenance and engineering services;
and EPS Wireless, Inc., a national provider of paging and cellular product
repair services, sales of new, used and refurbished paging and cellular
products and inventory management services. PNI's address on the World Wide
Web is http://www.pni.net .
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: The statements contained in this release which are not historical
facts, such as those concerning future financial performance and growth, are
forward-looking statements that are subject to risks and uncertainties that
could cause the actual results to differ materially from those projected,
including those risks identified in the Company's 1997 Annual Report on Form
10-K and in its September 30, 1998 10-Q, and actual results could differ
materially from those anticipated in the forward-looking statements. PNI
assumes no obligation to update the information in this release.
SOURCE Preferred Networks, Inc.
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Related links:
http://www.pni.net
Company News On-Call:
http://www.prnewswire.com/comp/109794.html or fax,
800-758-5804, ext. 109794
CONTACT:
David Sullivan, Director of Corporate
Relations of Preferred Networks, Inc., 770-582-3590
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