Maryland-based Ace*Comm Corp. proceeds with its proposed $4.2M
Daily Record, The (Baltimore), May 31, 2007 by Maryland
Ace*Comm Corp., of Gaithersburg, a telecommunications and Internet service company, said negotiations on its proposed $4.2 million convertible debt financing are proceeding, and that it expects to sign a contract in the next several days. The financing, originally announced in the company's May 15 third-quarter earnings report, will provide Ace*Comm with working capital to continue to penetrate the wireless market with its Patrol Suite product line.
On Wednesday, Ace*Comm said it received a notification letter from Nasdaq warning that its stock faces possible delisting because it has failed to meet Nasdaq's financial requirements.
Copyright 2007 Dolan Media Newswires
Provided by ProQuest Information and Learning Company. All rights Reserved.
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