Triton Network Systems Announces Intent with Respect to Future Distributions to Stockholders.
Triton previously made a cash distribution to its stockholders of $0.77 per share in cash to stockholders of record on Jan. 31, 2002. Triton currently has a cash and marketable securities of approximately $1.3 million (or approximately $0.037 per share common share of stock) to pay for estimated ongoing expenses and remaining contingent liabilities. The timing and amount of any additional cash distributions will be dependent on, among other things, the amount of ongoing expenses and the ultimate resolution of the remaining contingent liabilities.
Triton also announced that Stanley Arthur has resigned from the Board of Directors. Ken Vines and Howard "Skip" Speaks will remain as directors and Ken Vines will remain as the sole officer of Triton.
Statements contained in this press release related to Triton that are not historical facts may be forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" and other words and terms of similar meaning in connection with any discussion of the future. The forward-looking statements contained in this press release include, among other things, statements relating to the resolution of the IPO laddering Class Action claims and the timing and amount of any additional cash distributions to stockholders.
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|Date:||Jan 31, 2005|
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