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Usurf America ( USUR ) .10 // Unique Situation
On March 10, 2004 Usurf was de-listed from the AMEX because of their failure to meet minimum bid requirements of $1.00 per share. Prior to being de-listed the stock was traded under the symbol UAX, and was trading around .20 per share.
The new symbol USUR is temporarily being traded on the pinks while a list of participating market makers can be arranged.
The Situation: Usurf is selling at a 50% discount while its trading on the pinks, and this is the only reason why it is trading at these levels. The business is still the same, there have been no fundamental changes.
Once the company announces that it will be listed on the OTCBB the price is likely to run up, as with most companies that make the move from pinks to the OTCBB.
DENVER, Mar 10, 2004 /PRNewswire-FirstCall via COMTEX/ -- USURF America, Inc. today announced that the Company has been notified by the American Stock Exchange ("AMEX") that as of Sept. 30, 2003, it did not meet the minimum standards for listing on the AMEX. As such, effective March 10, 2004, the company's common stock will be suspended from trading on the AMEX. The Company is taking steps to initiate trading of its common stock on the Over-The-Counter market. In the interim, the Company's common stock will be quoted on the Pink Sheets Electronic Quotation Service.
[This message has been edited by cabbage22 (edited March 15, 2004).]
[This message has been edited by cabbage22 (edited March 15, 2004).]
They have filed for listing on the OTCBB and should be completed this week
There may or may not be a symbol change from USUR
There will be a PR this week about contracts with 3 additional RV parks in Arizona, and 2 more MDU's in Denver. The way the CEO was speaking leads me to believe there will be more developments very soon.
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USURF America Closes $3,100,000 in Private Placement PR Newswire - March 16, 2004 09:00 Broadband Provider Continues on Course with Aggressive Plan
DENVER, Mar 16, 2004 /PRNewswire-FirstCall via COMTEX/ -- USURF America, Inc. (Pink Sheets: USUR), a provider of wireless, high-speed broadband communications services, announced today that the Company has completed the closing of a private placement totaling $3,100,000. The placement consists of $1,000,000 in common stock at $0.10 per share, $2,100,000 in convertible debentures at $0.10 per share, and 125% warrant coverage at $0.12. Atlas Capital Service, LLC acted as placement agent for the financing.
"By completing this transaction, we can continue with our network construction and customer acquisition activities, as well as the pursuit of other promising business opportunities," said Douglas McKinnon, CEO of USURF. "Having a substantial cash position will allow us to quickly take advantage of existing opportunities."
USURF had previously announced that it was notified by the American Stock Exchange (AMEX) that as of Sept. 30, 2003, it did not meet the minimum standards for listing on the exchange. As such, effective March 10, 2004, the Company's common stock was suspended from trading on the AMEX.
USURF is taking steps to initiate trading of its common stock on the Over-The-Counter market (OTC). In the interim, USURF's common stock will be quoted on the Pink Sheets Electronic Quotation Service under the symbol USUR.PK.
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The technicals sure don't like this stock. What the heck happened to this one? It's a .07 and I am not sure where the floor is at looking at the charts. Cabbage, you are a T/A guy, what's your take on this one right now? I am inclined to let it find support (maybe .065 or .06)....could be a great play if the charts start looking favorable. It's way oversold, but the RSI is starting to stabilize somewhat. Do you know how many shares are outstanding for this one? Thanks, M&M
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