Accelerated Networks, Inc. Announces Change in Nasdaq Hearing; Nasdaq Reschedules Hearing for June 8, 2001.Business Editors/High-Tech Writers MOORPARK, Calif.--(BUSINESS WIRE)--May 11, 2001 Accelerated Networks, Inc. (Nasdaq:ACCL ACCL American Canadian Caribbean Line ACCL Acceleration ACCL American College of Construction Lawyers ACCL Accreditation Council for Clinical Lipidology (Allied Health Certification Program) ACCL Amway China Co Limited ), a leading developer of multiservice broadband access See broadband and wireless broadband. solutions for communications service providers A Communications Service Provider or CSP is a company that transports information electronically. The term encompasses public and private companies in the wireline, wireless, Internet, cable, satellite, and managed services businesses. , today announced that its hearing on possible delisting has been rescheduled to June 8, 2001. Nasdaq staff has requested the delay to allow it sufficient time to determine if a hearing will be required prior to allowing the resumption of trading on The Nasdaq National Market. The hearing before the Nasdaq Listing Qualifications Panel regarding the Company's stock listing status was originally scheduled for May 10, 2001. As previously disclosed, the Company received a Nasdaq Staff Determination that, pursuant to Marketplace Rule 4310(c)(14), its common stock is subject to delisting from The Nasdaq National Market because the Company delayed the filing of its Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the period ended December 31, 2000. The Company filed its Form 10-K on May 8, 2001. About Accelerated Networks, Inc. Accelerated Networks, headquartered in Moorpark, designs and develops multiservice broadband access (MSBA MSBA Maryland State Bar Association MSBA Minnesota State Bar Association MSBA Missouri School Boards' Association MSBA Minnesota School Boards Association MSBA Master of Science in Business Administration MSBA Microsoft Security Baseline Analyzer ) products that enable telecommunications service providers A Telecommunications Service Provider or TSP is a type of Communications Service Provider that has traditionally provided telephone and similar services. This category includes ILECs, CLECs, and mobile wireless companies. to bundle voice and data services over a single broadband access network. These products are designed to allow service providers to efficiently and cost-effectively deliver and manage secure multiservice broadband access services using DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary , T1/E1, NxT1/E1, or DS3/OC-3 technologies. Accelerated's products also allow service providers to leverage emerging technologies such as voice over broadband (VoB) and frame relay A high-speed packet switching protocol used in wide area networks (WANs). Providing a granular service of up to DS3 speed (45 Mbps), it has become popular for LAN to LAN connections across remote distances, and services are offered by most major carriers. over DSL (FRoDSL) over a single broadband access network. Accelerated Networks offers all of the components of a complete multiservice broadband access solution: carrier-class voice gateways, central office and multi-tenant unit concentrators, and a broad range of customer premises integrated access devices (IADs). For additional information, please visit www.acceleratednetworks.com. Portions of this press release contain forward-looking statements regarding future events or the future performance of the Company. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from any future performance suggested in such statements. These factors include, but are not limited to, the potential delisting of our common stock from The Nasdaq National Market, the ability of our recently appointed officers, including our CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and CFO See Chief Financial Officer. , to quickly integrate with and manage the Company's personnel and business, general market conditions affecting communications service providers purchase of equipment, in particular, DSL-related equipment, changes in service providers' business models, the rate our customers deploy their networks, our customers' ability to secure financing, the timing of order and shipments of products, mix of products sold, changes in the prices of our components, ability to maintain production volumes and secure key components, and our ability to develop new products to meet market demand. The Company undertakes no obligation to publicly update any forward-looking statements whether or as a result of new information, future events or otherwise. Please refer to the Company's periodic filings with the SEC which contain and identify other important factors that could cause actual results to differ materially from those contained in any forward-looking statements. |
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