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.
September 21, 2000
Mcglen Internet Group Inc., a Tustin e-commerce company, said it has hired Josephthal & Co. Inc. as its financial and investment banking advisor. Josephthal will advise the company on such matters as financing strategies and mergers and acquisitions, Mcglen said. In return, Josephthal will receive warrants to purchase shares of Mcglen's common stock as well as consulting fees, the company added.