FTE Networks Inc (fka FTNW)

[Ed Ajootian]

Chris, the best I can figure is the following. It seems that FTE management has decided that issuing the annual report with a "going concern" opinion is simply not an option. The only way they can avoid getting a "going concern" opinion on the report is if they get a firm financing commitment. They plan to get financing for the acquisition, which will also probably be enough to fix their balance sheet.

So it boils down to a situation where they can't issue the 10K until they get the financing for the acquisition lined up. As they are finding out, that sort of stuff takes time. This is not like getting a home mortgage.

Hopefully they get everything worked out this week.