Ambient Corporation Holds 2004 Annual Stockholder Meeting; Annual Meeting Highlights Transformation.Energy Editors/Business Editors/High-Tech Writers NEWTON, Mass.--(BUSINESS WIRE)--June 10, 2004 Ambient Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABTG ABTG AquaBio Tech Group ), a leader in Power Line Communications (PLC) technology, announced today that it held its 2004 annual stockholder meeting on Friday, June 4, 2004, as scheduled. A quorum A majority of an entire body; e.g., a quorum of a legislative assembly. A quorum is the minimum number of people who must be present to pass a law, make a judgment, or conduct business. of stockholders was present in person or by proxy. All proposals submitted to the stockholders were overwhelmingly approved and the stockholders re-elected John J. Joyce, Chief Executive Officer, Michael Widland, Michael Braunold and Henry Seduski to the Board. Stockholders also approved an increase in the number of authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. of the Company's common stock and the appointment of Rotenberg Meril Solomon Bertiger & Guttilla, PC, as Ambient's auditors for fiscal 2004. During the annual meeting, Mr. Joyce reviewed Ambient's accomplishments in 2003 and 2004 year-to-date and outlined the strategy for the future. "2003 proved to be an excellent year for Ambient. We were successful in raising over $5.3 million and established the financing framework that enabled us to raise an additional $4.7 million in 2004," commented John J. Joyce, President & 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. . "These resources allowed us to strengthen our technical staff and implement our patent management strategy. With the success of our latest funding plan we will aggressively pursue our business strategy and complete the design and implementation and eventual commercialization, of our PLC technology," continued Mr. Joyce. About Ambient Corporation Ambient Corporation (OTCBB:ABTG) is a development stage company engaged in the design, development and marketing of equipment and technologies that utilize existing electrical power medium voltage and low voltage Low voltage is an electrical engineering term that broadly identifies safety considerations of an electricity supply system based on the voltage used. While different definitions exist for the exact voltage range covered by "low voltage", the most commonly used ones include "mains distribution lines as a medium for the delivery of broadband and other communication services. The use of an electric power distribution system as a high-speed communication medium is commonly referred to as "power line communications" or "broadband over power lines Using the electric utility to provide Internet access. Also called "power line communications" (PLC), high-frequencies carrying data are superimposed over the low-frequency waves on the electrical transmission lines. ." Visit us at www.ambientcorp.com. This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Ambient Corporation with the SEC, including the company's most recent report on Form 10-KSB and 10-QSB, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Ambient is a trademark of Ambient Corporation registered in the U.S. Patent and Trademark Office. |
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