February 15, 2001 |
Mcglen Internet Group Inc., a Tustin specialty technology company, was granted its request for a hearing before the Nasdaq listing qualifications panel in its effort to remain on the Nasdaq SmallCap Market. The hearing is scheduled for March 16. The company requested the hearing last week after receiving notification that it didn't meet minimum bid requirements and that it failed to hold an annual shareholder meeting last year and to provide proxy materials to its shareholders.
February 9, 2001 |
Mcglen Internet Group Inc., a Tustin specialty technology company, said Thursday that its stock may be removed from Nasdaq and that it has requested an oral hearing before a Nasdaq National Market panel to halt the delisting. The company said in a press release that it has been notified that it didn't meet minimum bid price requirements for continued listing on the Nasdaq SmallCap market.
January 26, 2001 |
Mcglen Internet Group Inc., a Tustin specialty technology company, said Thursday that it expects revenue for the fourth quarter to be about $5.6 million, up slightly from third-quarter revenue of $5.5 million. In a press release, the company said it expects to report annual revenue of about $31 million for last year.
December 7, 2000
Mcglen Internet Group Inc. said it has entered an interim operating agreement with Lan Plus Corp. to cut costs before the pending merger of the companies, which was announced in October. Mcglen, a Tustin Internet electronic commerce company, said the companies will, to varying degrees, share such functions as purchasing, credit card processing, marketing and customer call center operations. Certain facilities also will be consolidated.
October 25, 2000
Mcglen Internet Group Inc., a Tustin Internet electronic commerce company, said Tuesday it has raised $1 million in a private sale of 1.33 million shares from a previously announced founder's pool of stock. Mcglen said in a news release that using stock from the pool of 10 million shares does not result in any dilution to shareholders. Lan Plus Corp., which recently agreed to merge with Mcglen, provided $500,000 of the investment.
September 26, 2000
The Mcglen Internet Group Inc., a Tustin electronic commerce company, said Monday its founders have agreed to provide up to 10 million shares of their stock, or about half of their holdings, to help the company raise funds. The stock from founders Alex Chen, Mike Chen and George Lee will be used to create a financing pool for such purposes as capital creation, mergers or acquisitions, business development, management incentives and growth-related activities.