Broadband Wireless Access [WCII, NXLK, WCOM, satellite..] Message Board

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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..]

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To: transmission who wrote (1738)	3/30/2001 6:02:23 AM
From: transmission	Read Replies (1) of 1860

March 29, 2001 -------------------------------------------------------------------------------- Advanced Radio Dn 50% Amid Concern Over Need For Capital By ELLEN SHENG Of DOW JONES NEWSWIRES NEW YORK -- Advanced Radio Telecom Corp. (ARTT) shares set a 52-week low after closing down 50% Thursday amid a cacophony of market talk about the company's need to raise capital. After-hours trading was halted for news at 5:33 p.m. EST. Company officials didn't immediately return calls to Dow Jones Newswires. Analysts were at a loss to explain the skyrocketing volume, but pointed to the broadband service provider's urgent need to raise capital. Jim Friedland, analyst at Robertson Stephens, calculated that the company is down to its last three months of cash. "If Advanced Radio doesn't raise cash soon, they will have to file for bankruptcy," he said. A month ago, the company said that a number of shareholders could start selling up to 9.1 million shares. The shareholders listed include Commco Technology LLC, Commco LLC, Wireless Facilities Inc. (WFII), ELAR Cellular, and individual stockholder Paul Bachow. The analyst said Advanced Radio hasn't yet reported earnings results for the fourth quarter ended December 31. In the absence of any announcements from the company, online chat boards were rife with rumors about the company's financial weakness. Advanced Radio shares closed at 28 cents, down 28 cents, on volume of 3.5 million shares. Average daily volume is 326,700 shares. The previous 52-week low of 53 cents a share was set on March 21. The stock reached a high of $39 on March 29, 2000.

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