Transcrypt escapes financial penalty in SEC ruling
Transcrypt International, Lincoln, NE, has settled with the Securities and Exchange Commission in the SEC’s investigation into errors in some of the company’s 1996 and 1997 quarterly and annual financial reports.
Under the the terms of the settlement, the SEC has imposed a cease-and-desist order that precludes any future violations of SEC rules and regulations. The settlement does not, however, require Transcrypt to pay a penalty.
The SEC began its investigation in April 1998. According to the current SEC report, Transcrypt published false and misleading financial statements in press releases and public filings with the commission, including a registration statement for an October 1997 second offering of stock.
As a result, Transcrypt had to restate its financial reports for 1996 and 1997. Although the company resolved the associated class action lawsuits filed on behalf of shareholders in 1999, the SEC investigation had continued during 2000.
“Resolving the SEC litigation is a major milestone for Transcrypt, and it represents the final chapter of the problems inherited by this current management,” Michael E. Jalbert, chairman of Transcrypt, said. “Our efforts can now be 100% focused on shifting our emphasis from legacy products to new products that fully exploit the benefits of digital technologies.”
According to the SEC, Transcrypt consented to the order without admitting to or denying the commission’s findings.
RF Industries acquires Bioconnect RF Industries, San Diego, has acquired Biconnect, a Lake Elsnore, CA-based manufacturer of interconnect products for the Healthcare Industry. The acquisition was completed for about $400,000.
“Bioconnect has a 10-year history of profitably manufacturing and marketing molded cables to connect electronic monitoring equipment used by healthcare professionals,” said Howard Hill, president of RF Industries. “This acquisition is an excellent fit with our rapidly growing cable assembly division, as the product and manufacturing process is essentially identical.”
Hill noted that RFI plans to transfer the bulk of its existing coaxial cable assembly operations to Bioconnect.
“With cable assembly sales doubling last year to $1 million, we need the additional manufacturing capacity,” Hill said. “The cable division’s continued growth, combined with Bioconnect’s manufacturing and marketing skills, will enable us to increase production, reduce costs and expand Bioconnect’s interconnect product offerings to the Healthcare Industry.”
FCC picks Project 25 for 700MHz standard In its Fourth Report and Order and Fifth Notice of Proposed Rulemaking released on Jan. 11, the FCC established a framework for allowing public safety officials throughout the country to communicate with each other on designated channels in the 700MHz band.
Interoperability has been a popular buzzword associated with the development of new public safety communications protocols, specifically Project 25. In adopting P25 Phase I as the voice standard for the 700MHz interoperability channels, the FCC ensured that all radios with 700MHz voice capability will have the ability to communicate with each other.
The interoperability framework proposed by P25 and pushed forward by the FCC also includes a standard for ds on the 700MHz band that will allow public safety entities, such as police and fire departments, to send status messages or short emails to each other.
The Public Safety National Coordination Committee recommended the adoption of Project 25.
ITA to increase membership benefits The Industrial Telecommunications Association has changed its membership benefits to include free contour analysis and licensing for all trunked and conventional systems below 800MHz. The beneficiary of this member benefit must be the applicant for the license, not an intermediate service provider.
“We believe that this will be a valuable benefit to member applicants seeking trunked FB8/TG frequencies,” said Andre F. Cote, ITA’s chief technology officer. ITA credits the efficiencies of its automated frequency coordination process for permiting it to make the fee changes.
Fees for frequency coordination, form preparation and other engineering services remain the same.
Arch Wireless merges with PageNet Arch Wireless, Westborough, MA, has merged with PageNet, Dallas.
Enhanced resources of the combined company include a large customer base comprising more than 13 million messaging units in service, a nationwide 1,600-person direct sales force, and established alliances with several Internet service and content providers.
“With a comprehensive two-way wireless network providing coverage in all 50 states, a strong presence in all major distribution channels and millions of customers throughout the United States, we believe Arch Wireless now has the assets to successfully compete in the changing world of wireless services,” said C. Edward Baker Jr., chief executive officer of Arch Wireless.
Lyndon Daniels, president of Arch Wireless, said the company is already moving to integrate operations of the two companies.
“While we do not underestimate the challenge of integrating the two companies, we do expect a smooth integration for our customers,” Daniels said.
The combined company will retain the name Arch Wireless and have headquarters in Westborough, MA.
ATSG strikes deal with COMTECH Advanced Technologies, Owings Mills, MD, has signed an agreement with COMTECH Mobile Datacom, Germantown, MD, to resell its movement tracking system – a satellite communications system that enables users to track vehicles and communicate while on and off the road.
ATSG will use COMTECH’s equipment and communications services to develop custom applications for monitoring and tracking fixed or mobile assets and provide application hosting if desired.
Nextel Communications, Reston, VA, acquired certain assets of Kelley Communications. The transaction includes Kelley’s SMR business covering the Indianapolis market.
The Washington Metropolitan Area Transit Authority agreed to install a new Astro voice radio communications system from Motorola, Schaumburg, IL, for its police, bus, rail and maintenance departments. The system is scheduled to be in place by the end of 2002. A data communications system will also be provided.
Digital Dispatch Systems, Richmond, British Columbia, Canada, signed a $1.4 million deal with Big Apple Car/Cloverdale Car, New York, to supply its limousine fleet with Pathfinder dispatching software. Pathfinder automatically dispatches the optimum car for every job, resulting in more trips per car.
Mobile phones sold in the United Kingdom during the Christmas shopping season carried a governmental health warning advising cellphone users of the potential risks created by RF radiation. It also pointed out the greater vulnerability of children to the radiation. The government is considering whether to require carriers to send similar warnings to existing users.
SCC Communications, Boulder, CO, has contracted to provide SOL Communications, Phoenix, with its 9-1-1 Connect service. Under the system, anytime a customer of SOL’s wireless services calls 9-1-1, SCC will provide the caller’s phone number and location to the appropriate PSAP.
Pacific Ventures, Dublin, CA has agreed to represent Gabriel Electronics’ Wireless Broadband point-to-point and point-to-multipoint antenna products, transmission line systems and pressurization equipment.