Speedus Announces Resignation of Director and Extension of Cure Period From Nasdaq
30 December 2008 - 9:00AM
PR Newswire (US)
FREEHOLD, N.J., Dec. 29 /PRNewswire-FirstCall/ -- Speedus Corp.
(NASDAQ: SPDE) today announced that Mr. Christopher Vizas,
previously an independent director and member of the Audit
Committee, has resigned from the Company's Board of Directors
effective December 29, 2008. Mr. Vizas will continue as Executive
Chairman of Density Dynamics Corporation, a recently acquired
majority-owned subsidiary of Speedus and pioneer of Green Solid RAM
memory and processing products. The Company will now have until the
earlier of the Company's next annual shareholders' meeting or
December 2, 2009; or, if the next annual shareholders' meeting is
held before June 1, 2009, June 1, 2009, to regain compliance with
Marketplace Rules of The Nasdaq Stock Market regarding both the
independent director and audit committee requirements. Density
Dynamics can be found on the web at
http://www.densitydynamics.com/. About Speedus Corp. Additional
information on Speedus Corp. may be obtained at
http://www.speedus.com/ or by contacting Peter Hodge at
888-773-3669 (ext. 23) or . Statements contained herein that are
not historical facts, including but not limited to statements about
the Company's product, corporate identity and focus, may be
forward-looking statements that are subject to a variety of risks
and uncertainties. There are a number of important factors that
could cause actual results to differ materially from those
expressed in any forward-looking statements made by the Company,
including, but not limited to, the continuing development of the
Company's sales, marketing and support efforts. DATASOURCE: Speedus
Corp. CONTACT: Peter Hodge, +1-888-773-3669 (ext. 23), Web Site:
http://www.densitydynamics.com/ http://www.speedus.com/
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