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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..]
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To: transmission who wrote (1751)4/2/2001 8:45:28 AM
From: transmission  Read Replies (1) of 1860
 
April 2, 2001 WSJ


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Technology Briefs

Teligent Doubts Its Ability to Remain Afloat

Teligent Inc., Vienna, Va., said in an annual report for 2000 filed Friday with the Securities and Exchange Commission that there is "substantial doubt about the company's ability to continue as a going concern." Teligent, which must raise additional funds to remain in operation beyond the current second quarter, said it could be delisted by the Nasdaq National Market by April 24 if it remains unable to meet Nasdaq listing standards for minimum share price or net tangible assets. It said it would request an extension and appeal any delisting. Teligent sells phone and data service in competition with the regional Bells. Like other so-called competitive local exchange providers, known as CLECs, Teligent has posted large losses and had difficulty raising needed capital from investors who have soured on CLECs. Teligent had $194 million in cash, cash equivalents and short-term investments as of March 26, according to the SEC filing. Chairman and Chief Executive Alex Mandl, a former president of AT&T Corp., has said he hopes to have an additional funding package in place by later this month. On Friday, Teligent shares fell nine cents to 59 cents in 4 p.m. Nasdaq Stock Market trading.
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