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Technology Stocks : People's Choice Tv Corp. (PCTV) -- Ignore unavailable to you. Want to Upgrade?

To: Zorro who wrote (126)	3/13/1998 11:29:00 AM
From: RJD	Read Replies (1) \| Respond to of 176

Tell me if Im wrong but the share price would have to be approx. 2 1/4 to meet the 35 mil. requirement....Thats a hard row to hoe form 3/4. Exception to the rule...??? Jason, you may be right on short term gain..have you heard anything relative to the Detroit offering/project internet. I do like the potential of this technology and their locations/markets are also attractive... What the hell if I can get back in at say 1/2 to 5/8 I'll take the gamble ..........................Luck to us all ..............RJD

To: Zorro who wrote (126)	4/13/1998 7:11:00 PM
From: Zorro	Read Replies (2) \| Respond to of 176

People's Choice TV Announces Resignation of Two Directors Monday April 13, 4:53 pm Eastern Time Company Press Release SOURCE: People's Choice TV Corp. biz.yahoo.com SHELTON, Conn., April 13 /PRNewswire/ -- People's Choice TV Corp. (Nasdaq SmallCap Market: PCTV - news) today reported that on April 8, 1998, James J. Mossman and Anthony Grillo resigned from the Board of Directors of People's Choice TV Corp. (the ''Company''). As a result of these two resignations, the Board of Directors of the Company now consists of three members. The Company has commenced a search for new board member candidates but has not selected any nominees at this time. Messrs. Mossman and Grillo are affiliated with Blackstone Capital Partners II Merchant Banking Fund L.P. and two affiliated companies (the ''Blackstone Companies'') which companies hold all of the outstanding shares of the Convertible Cumulative Pay-in-Kind Preferred Stock issued by the Company (the ''Preferred Stock''). Pursuant to the instruments related to the Preferred Stock, the Blackstone Companies are entitled to appoint two directors to the board of directors of the Company. Messrs. Mossman and Grillo were the current board member designees of the Blackstone Companies. While the Blackstone Companies have not appointed two director designees to replace Messrs. Mossman and Grillo, they retain the right to make such appointments at any time in the future. The Nasdaq Stock Market, Inc. (''Nasdaq'') recently informed the Company that Nasdaq has determined that the Company is not in compliance with a market capitalization maintenance standard with respect to the listing of the Company's Common Stock on the Nasdaq SmallCap Market. Nasdaq further advised the Company that its Common Stock was scheduled for delisting from the SmallCap Market. Pursuant to Nasdaq procedures, the Company has appealed this determination and has requested a ninety-day temporary exception to the market capitalization maintenance standard. This appeal is pending. To remain listed on the Nasdaq SmallCap Market, the Company must also have two independent directors on its board of directors. As a result of the resignations of Messrs. Mossman and Grillo, the Company does not currently satisfy this requirement. While the Company is seeking independent director nominees, the Company's lack of two independent directors may be an additional factor preventing the Company from successfully appealing Nasdaq's delisting determination. All statements contained herein that are not historical fact are based on current expectations. These statements are forward-looking in nature and involve a number of risks and uncertainties. Actual results may differ materially. All such statements should be considered with regard the risk factors described in the Company's report filed with the Securities and Exchange Commission. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and as such, speak only as of the date made. People's Choice TV Corp. is a wireless communications company with wireless transmission capacity in nine major cities located in the southwest and midwest. The Company provides wireless cable television service in Chicago, Houston, Phoenix, Detroit, St. Louis and Tucson and provides wireless high speed internet access service marketed under the name of SpeedChoice(TM) in the Detroit and Phoenix markets. SOURCE: People's Choice TV Corp.