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Airborne Wireless Network Issues Update
Airborne Wireless Network Issues Update.
About this update from Airborne Wireless Network
[{"type":"text","content":"\n\n\n\nAirborne Wireless Network Issues Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAirborne Wireless Network Issues Update\nPR Newswire\nSIMI VALLEY, Calif., June 21, 2018\n\n\n\nSIMI VALLEY, Calif., June 21, 2018 /PRNewswire/ -- Airborne Wireless Network (\"Airborne Wireless\" or the \"Company\") (OTCQB: ABWN) is today delivering a message to its stockholders.\n\n\n \n \n\n \n\"I understand your frustration with the recent declines in the trading price of our stock, and I am obviously frustrated as well as a shareholder and the CEO,\" explained Michael Warren, the Company's Chief Executive Officer.  \"As you know, we do not control the trading price of our common stock, which trades freely on the OTCQB Marketplace.  As previously disclosed, we recently raised $8 million in the form of convertible preferred stock.  We believe conversions by the investors in our convertible preferred stock have put downward pressure on our stock price, but as we previously explained, the structure of the offering has the potential to generate significant additional proceeds.\"\n\nAs a result of the recent capital raise, and because of the Company's confidence in its underlying business plan and the transformative potential of our technology, the Company is continuing to operate its business in the ordinary course, and will communicate any new material information to investors in a timely manner, compliant with our obligations under the law.\n\nAbout Airborne Wireless Network\n\nThe Company intends to create a high-speed broadband airborne wireless network by linking commercial aircraft in flight. It is projected that each aircraft participating in the network will act as an airborne repeater or router, sending and receiving broadband signals from one aircraft to the next and creating a digital information superhighway in the sky. The Company intends the network to be a high-speed broadband internet pipeline to improve coverage and connectivity. The Company does not intend to provide retail customer coverage to end users but, instead, act as a wholesal...