For Further Information Contact:
Proxim Wireless
David Renauld
Vice President, Corporate Affairs
(413) 584-1425
ir@proxim.com
Proxim Wireless Announces Change in Independent Registered Public Accounting Firms
Silicon Valley, August 21, 2009 - Proxim Wireless Corporation (OTCQX:PRXM) today announced it has decided to change its independent registered public accounting firm.
Effective August 20, 2009, the Audit Committee of Proxim’s Board of Directors decided to engage Rowbotham & Company as the company’s auditors for fiscal year 2009 and to dismiss the company’s former auditors Mark Bailey & Company, Ltd., which was the company’s auditor for fiscal year 2008.
The decision was made as part of Proxim’s ongoing efforts to reduce costs. The report of Mark Bailey & Co., Ltd. on Proxim’s financial statements for fiscal year 2008 did not contain an adverse opinion or disclaimer of opinion and was not modified as to uncertainty, audit scope, or accounting principles. There were no disagreements with Mark Bailey & Co., Ltd., whether or not resolved, on any matter of accounting principles or practices, financial disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of Mark Bailey, would have caused it to make reference to the subject matter of the disagreement in connection with its report. Mark Bailey & Co., Ltd. did not advise Proxim of any of the following: (a) that internal controls necessary to develop reliable financial statements did not exist; (b) that information has come to the attention of Mark Bailey that made Mark Bailey unwilling to rely on management’s representations or unwilling to be associated with the financial statements prepared by management; or (c) that the scope of the audit shall be expanded significantly, or information has come to Mark Bailey’s attention that Mark Bailey has concluded will, or if further investigated may, materially impact the fairness or reliability of a previously issued audit report or the underlying financial statements, or the financial statements issued or to be issued covering the fiscal period(s) subsequent to the date of the most recent audited financial statements (including information that might preclude the issuance of an unqualified audit report), and the issue was not resolved to Mark Bailey’s satisfaction prior to its dismissal.
About Proxim Wireless
Proxim Wireless Corporation (OTCQX: PRXM) is a leading provider of end-to-end broadband wireless systems that deliver the quadruple play of voice, video, data and mobility to all organizations today. Our systems enable a variety of wireless applications including security and surveillance, VoIP, last mile access, enterprise LAN connectivity and Point-to-Point wireless backhaul. We have shipped more than 1.8 million wireless devices to more than 235,000 customers in over 65 countries worldwide. Proxim is ISO-9001 certified. Information about Proxim can be found at www.proxim.com. For investor relations information, e-mail ir@proxim.com or call +1 413-584-1425.