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WAM!NET To Delay Filing Quarterly Report, Blames Fund Raising Efforts

Press release from the issuing company

8/16/01 - (WhatTheyThink.com) According to a filing this week with the SEC, WAM!NET has notified investors that they will delay their required 10-Q filing. According to the report, “The registrant has been in active discussions with a financing partner regarding a potential financing transaction. These discussions have required a substantial time commitment from the employees of the registrant. Due to the time spent by such employees working on this potential transaction, the registrants' Form 10-Q for the quarterly period ended June 30, 2001, could not be filed within the prescribed time period without unreasonable effort or expense.” WAM!NET is a global provider of information technology and digital media solutions. WAM!NET's services, which include managed network, data storage, hosting and application services, are delivered in a utility-like model via the company's highly integrated IT platform, enabling commercial and government customers to access the combination of IT services they need on a transactional basis. In doing so, customers are united with their community of interest, which collaborates to specify, create, print, store, broadcast and distribute content within WAM!NET's online, secure digital environment.