Multiband Retains Genesis Select to Maximize Shareholder Value
3/3/2005 9:25:00 AM
MINNEAPOLIS, Mar 3, 2005 (BUSINESS WIRE) -- Multiband Corp. (MBND), a leading provider of voice data and video systems to multi dwelling units (MDU's), today announced that it has retained Genesis Select Corporation to initiate a comprehensive institutional investor relations program. Based in Boulder, Colorado, Genesis Select will work closely with Multiband management to attract portfolio managers, buy- and sell-side analysts and the investment community at large, to the company's compelling story. Genesis will communicate to Wall Street the valuation differences between Multiband and its comparable peers that include other MDU operators and the larger cable operators and satellite service providers.
"Genesis Select has demonstrated the ability to generate significant investor interest in micro cap companies as measured by both increased institutional ownership and research coverage for their clients," said James Mandel, CEO of Multiband. "We have worked hard to create critical mass from a subscriber acquisition standpoint and grow our company. We feel that it is time to now simultaneously focus on educating Wall Street about the opportunity that exists in what we believe is an undervalued equity situation and Genesis Select is a great partner in doing that," added Mandel.
"Multiband has been able to assemble a critical mass of subscribers in Multi Dwelling Units around the country where the Company controls the "right of way" access into these facilities on a contractual basis for an extended period of time," said Budd Zuckerman, President of Genesis Select. "From our perspective the Company already trades at a substantial discount to comparable players in their respective universe. And as Multiband further demonstrates their ability to deliver the triple play and up sell their combined video, data and voice offerings by increasing the average revenue per user (ARPU), we intend to communicate this valuation difference and position the Company to obtain the proper value of subscriber holdings that we believe it deserves." added Zuckerman.
About Multiband Corporation
Multiband Corporation, formerly Vicom, Incorporated, formed in 1975, provides voice, data and video systems and services to business and government clients, and to multiple dwelling units (MDUs), including apartment buildings and time share resorts. The Company's products and services are sold to clients located throughout the United Sates. The Company has two operating divisions, Multiband Business Solutions and Multiband Subscriber Services. Multiband, with locations throughout the United States, has subscriber concentrations in California, Colorado, Illinois, Texas, Florida and New York. Multiband has offices in Fargo, Minneapolis, Rochester, Los Angeles, San Francisco, Denver, Chicago and Tampa with satellite facilities through subcontractors in St. Louis, Dallas and New York. For additional information, please go to www.multibandusa.com.
About Genesis Select Corp.
Genesis Select Corporation (www.genesisselect.com) is an independent investment advisory and financial communications firm that specializes in micro through mid-capital public companies. The firm's senior professionals integrate knowledge and expertise gained over 50 years at prominent Wall Street firms. Genesis Select works closely with clients to maximize shareholder value through strategic institutional investor relations and financial communications programs.
SOURCE: Multiband Corporation
Multiband Corporation, Minneapolis
James L. Mandel, 763-504-3000
or
Genesis Select Corp.
Budd Zuckerman, 303-415-0200
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