NAPLES, FL -- (Marketwired) -- 09/09/14 -- FTE Networks, Inc. (PINKSHEETS: FTNW), a premier provider of solutions services in the telecommunications and technology vertical, today announced that it is formally responding to the SEC Letter received on August 22, 2014 regarding the trading suspension of FTNW.
We want to continuously provide shareholder updates regarding the situation at FTE Networks, Inc. We are currently working with our Audit and SEC Firms to respond to and rectify all issues with the SEC. Our moving forward plan is to expeditiously file a Form 10, reregistering our common shares.
"We believe that our current plan will enable us to become reregistered in the quickest way possible and is in the best interest of our stakeholders," commented Michael Palleschi, CEO of FTE Networks.
As previously stated, as far as the company's business is concerned, this suspension has no effect on our ability to continue our growth. We are operating and moving forward successfully. We will have information as we progress through this situation and will put out releases and 8Ks, as is our normal procedure.
About FTE Networks, Inc.
FTE Networks is a vertically integrated company with an international footprint. Since its inception, FTE Networks has steadily advanced its management, operational and technical capabilities to become a leading provider of services to the telecommunications and wireless sector with a focus on turnkey solutions. FTE Networks provides a comprehensive array of services centered on quality, efficiency and customer service.
Forward Looking Statements
This release may contain forward-looking statements relating to the business of FTNW. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. These statements involve risks and uncertainties that may cause actual results to differ materially from those anticipated, believed, estimated or expected. These risks and uncertainties are described in detail in our filings with the Securities and Exchange Commission. Forward-looking statements are based on FTNW's current expectations and beliefs concerning future developments and their potential effects on FTNW. There is no assurance that future developments affecting FTNW will be those anticipated by FTNW. FTNW undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
FTE Networks, Inc.
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Source: FTE Networks, Inc.
Released September 9, 2014