UniTek Global Services Inc fka UNTKQ

[Renee]

UNTKQ: BK Plan effective. All shares cancelled.

http://otce.finra.org/DailyList

[Renee]

UNTK changed to UNTKQ, bankruptcy:

http://www.otcbb.com/asp/dailylist_detail.asp?d=11/03/2014&mkt_ctg=NON-OTCBB

[sandtrap246]

Probably can't even afford chap 11

[willlbone]

Chapter 11. Going under 1 cent.

[Grim]

18 positions just posted on career builder. Sales rep and IT.

[wilburb]

I bought KIOR .11 sold .35 in 2 wks, I bought UNTK here .11 today

[Grim]

Directors purchased share back in spring 2014 in the 1.60 range. Why would they have done this if they knew the company shares would dive much lower? Or maybe they did not know. Is this company a takeover target?

[sandtrap246]

Yeah, good luck with that.

[Daytrade96]

We not strangers of otc. Money os green. Trading will continue. I believe in this stock. This is cheap. Good entry point.

I always say buy low and sell high. Buy when they don't want it and then sell it when they can't get enough of it.

[Daytrade96]

This will rebound. Way over sold territory. Has to bounce up a bit. Always does.

[troubadour84]

So why did this pos get delisted? Can someone explain in laymans sp? terms?

[Renee]

UNTK delisted from Nasdaq to OTC:

http://www.otcbb.com/asp/dailylist_detail.asp?d=08/20/2014&mkt_ctg=NON-OTCBB

[tamby1]

news?
The Company is considering an appeal of the Staff's determination, which appeal must be filed with NASDAQ by no later than August 19, 2014.
surprise..

[George1234]

Nasdaq minimum listing requirements are not met.
No capital to operate into Q3.
Capital infusion is more likely. This got value alive than dead.

[sandtrap246]

What exactly killed this, and why the dump, do you know? You really think this is bottom? Or is there more selling ahead?

Just curious. NASDAQ dropped them, hard to believe they were at $1.50 in May.

Strange because Blue Bell, PA is about 5 miles from where I grew up. Haven't been there in over a decade though.

Just curious.

[George1234]

buy out or cash infusion happens soon

[troubadour84]

This feels like a bottom to me right now..

[George1234]

back to 50C next week upon re-appeal to Naz

[willlbone]

UNTucKed up.

[la migra]

I just received a packet in the mail, what happened here? Sued? I'm gonna fill it out and maybe get some money back, but I think I made money off this ticker not lost? Should I send it in if I did?

[Penny Roger$]

~ $UNTK ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!

$UNTK has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~







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~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~


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Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "UNTK": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=UNTK ~
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c

[gmoneymachine]

Good news on Unitek. Solid company that will rebound eventually imo.

http://online.wsj.com/article/PR-CO-20130702-908694.html?mod=googlenews_wsj

[$hylo]

UNTK. $2.00 today. Slowly climbing back to $3.00. My $1.35 buy is looking very green so far. Patience is such a wonderful virtue...

[$hylo]

UniTek Global Services, Inc. Provides Update on Master Services Agreement With DIRECTV.
http://ih.advfn.com/p.php?pid=nmona&article=57612429&symbol=UNTK

[$hylo]

UNTK..Price Target $2.50.

April 15, 2013 9:12 AM EDT: Janney Montgomery Scott downgraded UniTek Global Services (NASDAQ: UNTK) from Buy to Sell with a price target of $2.50.
http://www.streetinsider.com/Downgrades/Janney+Montgomery+Scott+Downgrades+UniTek+Global+Services+%28UNTK%29+to+Sell/8252287.html

[$hylo]

UNTK..$1.49..On Strong Bounce Alert:

IMO, company will get through this and will be able to recoup most of the PPS decline. UNTK is a solid company with a very impressive customer base such as Direct TV, AT&T, Comcast and several other Blue Chip companies.

Company is very transparent with its ongoing audit and has already gotten rid of all the culprits within it's system.

[$hylo]

UniTek Global Services, Inc. Receives NASDAQ Notice of Non-Compliance.
http://finance.yahoo.com/news/unitek-global-services-inc-receives-202000621.html

The Company did not timely file its Annual Report on Form 10-K for the year ended December 31, 2012. The notification of non-compliance has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Global Market.

The Nasdaq letter stated that the Company has until May 1, 2013 to submit a plan to regain compliance. The Company intends to submit such a plan to Nasdaq in advance of that date. If Nasdaq accepts the plan of compliance, it can grant an exception of up to 180 days after the applicable due date for the filing of the Form 10-K. The Company believes it would be able to file the Form 10-K well within such a 180-day period.

[$hylo]

UNITEK GLOBAL SERVICES, INC. Files SEC form 8-K, Notice of Delisting or Failure to Satisfy a Continued Listing Rule o
http://biz.yahoo.com/e/130417/untk8-k.html

[$hylo]

UniTek's Law Violation to be Probed.
http://finance.yahoo.com/news/uniteks-law-violation-probed-195002033.html

Law firm Glancy Binkow & Goldberg LLP is investigating potential claims on behalf of investors of UniTek Global Services, Inc. (UNTK) regarding the possible breach of federal securities laws by the company.

The probe looks into allegations levelled by UniTek’s investors that certain statements issued by the company related to its business, operations and financial condition were false and misleading. The statements misrepresented the company’s operations and financial performance.

UniTek, on Apr 12, 2013, revealed its estimated preliminary financial results for 2012. The company also disclosed that it will restate the financial results for the interim periods ended Mar 31, 2012, Jun 30, 2012, and Sep 29, 2012, the fiscal year ended Dec 31, 2011, and the interim period ended Oct 1, 2011, resulting in the initiation of investigation process. Consequently, the filing of the company's annual report on Form 10-K for the year ended Dec 31, 2012, will be further delayed.

An ongoing internal investigation, conducted by the Audit Committee with the assistance of an outside independent counsel and a forensic accounting firm, determined that several employees of UniTek's Pinnacle Wireless subsidiary were engaged in fraudulent activities, which resulted in improper revenue recognition.

UniTek has decided to sack the CFO (Chief Financial Officer) and Treasurer, Ronald Lejman, as well as Kevin McClelland, controller and chief accounting officer of the company, based on the recommendation of the Audit Committee.

Blue Bell, Pa.-based UniTek, a provider of engineering, construction management, installation and technical services to the wireless and wireline telecommunications, satellite television, and broadband cable industries in the U.S. and Canada, is now focusing to complete its financial reporting obligations.

UniTek currently retains a short-term Zacks Rank #3 (Hold).

[$hylo]

UNTK closed at $3.00 just last Friday, April 12. 2013 and then company released this PR after hours that caused a 50% drop.

UniTek Global Services, Inc. Announces Selected Estimated Preliminary 2012 Financial Results:
http://finance.yahoo.com/news/unitek-global-services-inc-announces-210756106.html

BLUE BELL, Pa., April 12, 2013 (GLOBE NEWSWIRE) -- UniTek Global Services, Inc. ("UniTek" or the "Company") (UNTK), a premier provider of permanently outsourced infrastructure services to the telecommunications, broadband cable, wireless, transportation, public safety and satellite television industries, today announced estimated preliminary financial results for the year ended December 31, 2012.

For the year ended December 31, 2012, UniTek estimated preliminary revenue of approximately $442.5 - $447.0 million, adjusted EBITDA1 of approximately $45.0 - $48.2 million and net loss of approximately $48.2 - $41.4 million. The estimated 12-month backlog2 as of December 31, 2012 totaled approximately $510 million.

Restated Financial Results

The Company also announced that it will restate its financial results for the interim periods ended March 31, 2012, June 30, 2012 and September 29, 2012, the fiscal year ended December 31, 2011 and the interim period ended October 1, 2011. As a result of an ongoing internal investigation being conducted by the Audit Committee of the Company's Board of Directors, with the assistance of outside independent counsel and a forensic accounting firm, it was determined that several employees of the Company's Pinnacle Wireless subsidiary engaged in fraudulent activities that resulted in improper revenue recognition.

Since the Company's acquisition of the legacy Pinnacle business in April 2011, that business has comprised less than 10% of UniTek's consolidated revenues.

The Company plans to amend its Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2012, June 30, 2012 and September 29, 2012 (the amended Form 10-Q for the quarter ended September 29, 2012 also will include restated consolidated financial statements for the comparative three and nine month periods ended October 1, 2011), as well as its Annual Report on Form 10-K for the year ended December 31, 2011.

In light of these events, the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2012 will be further delayed. During the ongoing process of preparing restated financial statements, if it is determined that other adjustments are appropriate, the restated consolidated financial statements will reflect such adjustments.

Executive Update

The Company also announced that Ronald J. Lejman, Chief Financial Officer and Treasurer, has been terminated, effective immediately. UniTek has engaged Kenneth J. Cichocki, CPA, of Pillar Solutions Group, to serve as the Company's interim Chief Financial Officer, effective April 15, 2013.

In connection with the internal review and based on the recommendation of the Audit Committee, the Company also announced the termination of Kevin McClelland, Controller and Chief Accounting Officer, as well as the terminations of Michael Hayford, President of the Pinnacle Wireless division, several other employees of Pinnacle Wireless and an employee of the UniTek finance department. None of the terminated individuals will receive severance.

The Company has commenced a search for permanent replacements for the Chief Financial Officer and Controller positions. UniTek Chief Operating Officer Donald W. Gately will serve as acting President of Pinnacle Wireless.

[$hylo]

UniTek Global Services, Inc. (UNTK) -NasdaqGM
http://www.unitekglobalservices.com/

UniTek Global Services is a provider of engineering, construction management and installation fulfillment services to companies specializing in the telecommunications, broadband cable, wireless, two-way radio, transportation, public safety and satellite industries. UniTek has created a scalable operating platform, enabling each UniTek subsidiary to deliver quality services to its Fortune 200 customers. UniTek, based in Blue Bell, PA, utilizes a diverse workforce of over 6,500 deployed in over 108 locations in the United States and Canada.








http://files.shareholder.com/downloads/ABEA-5F72PQ/2428431672x0x647075/3C00E0E5-47B8-4020-8FD8-23D4ABDB1FD3/2013.03.19_UniTek_Overview_Final.pdf