Network Installation Founder & Former CEO Retires 6 Million Shares
June 22 2005 - 8:00AM
PR Newswire (US)
Network Installation Founder & Former CEO Retires 6 Million
Shares IRVINE, Calif., Jun 22 /PRNewswire-FirstCall/ -- Network
Installation Corp. (OTC:NWKI) (BULLETIN BOARD: NWKI) a
communications solutions provider, today announced that its founder
and former CEO Michael Cummings has returned 6 million shares of
the Company's common stock which will be retired into treasury
pursuant to his severance agreement. As a result of the retirement,
the current total shares outstanding shall be reduced to
approximately 16 million. Network Installation CEO Jeffrey R.
Hultman stated, "This action plain and simple is a significant
event. We are currently pursuing acquisitions on a number of fronts
and are seeking to minimize any dilution from these transactions
while increasing their accretive value. We believe that the steps
we are taking will add measurably to our growth and presumably to
our shareholder value." About Network Installation Network
Installation Corp. provides communications solutions to the Fortune
1000, Government Agencies, Municipalities, K-12 and Universities
and Multiple Property Owners. These solutions include the design,
installation and deployment of data, voice and video networks as
well as wireless networks including Wi-Fi applications and
integrated telecommunications solutions including Voice over
Internet Protocol (VoIP) applications. To find out more about
Network Installation Corp. (OTC:NWKI) (BULLETIN BOARD: NWKI) ,
visit our corporate website at
http://www.networkinstallationcorp.net/. The Company's public
financial information and filings can be viewed at
http://www.sec.gov/. Forward-Looking Statements This release
contains forward-looking statements, including, without limitation,
statements concerning our business and possible or assumed future
results of operations. Our actual results could differ materially
from those anticipated in the forward-looking statements for many
reasons including: our ability to continue as a going concern,
adverse economic changes affecting markets we serve; competition in
our markets and industry segments; our timing and the profitability
of entering new markets; greater than expected costs, customer
acceptance of wireless networks or difficulties related to our
integration of the businesses we may acquire; and other risks and
uncertainties as may be detailed from time to time in our public
announcements and SEC filings. Although we believe the expectations
reflected in the forward-looking statements are reasonable, they
relate only to events as of the date on which the statements are
made, and our future results, levels of activity, performance or
achievements may not meet these expectations. We do not intend to
update any of the forward-looking statements after the date of this
document to conform these statements to actual results or to
changes in our expectations, except as required by law. For further
information, please contact: Michael Novielli, Chairman, Network
Installation Corp., , ph (845) 575-6770. DATASOURCE: Network
Installation Corp. CONTACT: Michael Novielli, Chairman of Network
Installation Corp., +1-845-575-6770, Web site:
http://www.networkinstallationcorp.net/
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