Mark & Paddy...
Well...wonder no more!!! This is the news we have been waiting for!
YES, THIS DÅWG WILL HUNT!!!
FastComm Reports New Hearing Dates
STERLING, Va.--(BUSINESS WIRE)--Jan. 25, 1999--FastComm Communications Corporation announced today that it has reached a tentative agreement with Gary Davison, a former officer, to resolve his claims against the company.
Both sides expect that this favorable development will enable FastComm to emerge from Chapter 11 Bankruptcy protection shortly. The Bankruptcy Court in Alexandria, Va., will hold a hearing to approve the company's disclosure statement on February 8th, 1999, and has scheduled another hearing on confirmation of its plan of reorganization for March 12th, 1999. The company expects that its creditors and shareholders alike will support the plan.
Forward looking statements are made in this release pursuant to the safe harbor provisions of the Private Securities Litigation reform Act of 1995. Investors are cautioned that all forward looking statements are subject to risk and uncertainties, including without limitation, the timing of new announcements or introductions by the company and its competitors, the hiring and retention of key employees, competitive pricing pressure, dependence on third party for components and products, and general economic conditions in the United States and international markets and the risk factors detailed from time to time in the company's periodic reports and registration statements filed with the Securities and Exchange Commission.
FastComm is a designer developer and manufacturer of a complete family of access products which provide a single seamless transport in multi-protocol environments for Voice/Data and Video networking over LAN/WAN and Global networks.
For more information, or to request a data sheet of any FastComm product, contact us via phone 703/318-7750; fax to 703/787-4625; email to info@fastcomm.com; or visit FastComm on the World Wide Web at fastcomm.com.
Our products include the WEB Router(TM) and ECX-Router(TM), EtherFRAD(TM), RingFRAD(TM), VoiceFRAD(TM), QUICK II(TM), Chanlcomm(R), GlobalStack(TM). These products provide routed and switched Voice/Data and Video access solutions that require variable bandwidth from 9.6 Kbps to full T1/E1, over Leased Line, Frame Relay, X.25 and dial-up analog networks.
FastComm, stylized logo, WEB.router, ECX-Router, FrameProtect, LAN+Legacy, MaximumPriority, FastRATE, MonoFRAD, EtherFRAD, RingFRAD, QUICK II, GlobalStack, and SuperView are trademarks of FastComm Communications Corp. FastComm is the exclusive licensee of ChanlComm(R) products by KG Data Corp. All rights reserved.
CONTACT:
FastComm Communications
Mark Rafferty, 703/318-7750
or
Investor Relations
DuBois Consulting Group
Phillip L. Dubois, 757/229-0666
pdubois690@aol.com
KEYWORD: VIRGINIA
BW0471 JAN 25,1999
16:32 PACIFIC
19:32 EASTERN |
