LONGWOOD, Fla., March 07, 2019 (GLOBE NEWSWIRE) -- Spectrum Global Solutions, Inc. (SGSI) (the “Company”), a single-source provider of end-to-end next-generation wireless and wireline network solutions and professional services to the service provider (carrier) and corporate enterprise markets, today announces that in the last two weeks it has received over $1.6 million in new contract awards to support carrier network upgrades.
"These new orders show an acceleration of the growth we have predicted for this year,” stated Spectrum CEO Roger Ponder. “This growth in opportunities, when coupled with the unique solutions and technology brought to market through our pending WaveTech merger has us very excited for the future of our Company.”
The Board approved an amended 14C that provides the current and future Board with the flexibility to address any NASDAQ up listing requirements that are associated with price. It is still the Board’s intention to limit the actual size of the reverse to achieve what is desired for a successful up listing.
As previously announced, Spectrum Global’s and WaveTech Global Inc. will create a consolidated entity valued at more than $130 million and will seek approval for up listing to the Nasdaq as soon as practicable.
About Spectrum Global Solutions
Spectrum Global Solutions operates through its subsidiaries, AW Solutions, ADEX Corp and TNS. The Company is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean. For more information about the Company and its technologies visit the Company’s public filings at www.SEC.gov or the Company’s website at https://SpectrumGlobalSolutions.com/
About WaveTech Global
WaveTech is a global next generation energy management company that specializes in asset lifecycle extension, intellectual property development, and implementation services. The Company offers a global portfolio of end-to-end energy optimization and lifecycle management solutions developed from proprietary intellectual property, engineered systems, and operational expertise. WaveTech’s extensive suite of products include power asset life extension, operational servicing and automation, lifetime cost reduction, and real-time heterogeneous power source switching. Additional information regarding WaveTech may be found on WaveTech’s website at www.WaveTechGlobal.com
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
Spectrum Global Solutions
WaveTech Global, Inc.
New York, New York