"Safe Harbor" Statement
NOTE: Any statements contained in these slides or made during the oral
presentation that do not describe historical facts are forward-looking
statements as defined under the Federal securities laws. These forward-looking
statements include, but are not limited to, statements regarding: (i) the
Federal Communications Commission (the “FCC”) will issue a Report and Order
that supports the deployment of broadband LTE networks, technologies and
solutions in the 900 MHz band on a timely and economically viable basis; (ii)
the Company’s ability to satisfy the FCC’s future requirements to qualify for
broadband licenses; (iii) the Company’s capital requirements and the timing
and costs of its retuning and spectrum acquisition activities; (iv) the demand
by, and the Company’s potential contractual terms with, electric utilities and
other critical infrastructure providers for the lease of its spectrum assets;
(v) the valuation of the Company’s spectrum assets; and (vi) the Company’s
business model, including the timing and amount of its contract revenues,
operating costs and gross margins. Any such forward-looking statements are
based on the Company’s current expectations and are subject to a number of
risks and uncertainties that could cause its actual future results to differ
materially from its current expectations or those implied by the
forward-looking statements. These risks and uncertainties include, but are not
limited to: (i) the Company’s FCC initiatives may not be successful on a
timely basis or at all, and will continue to require significant time and
attention from the Company’s senior management team and its expenditure of
significant resources; (ii) any final Report and Order issued by the FCC may
differ, possibly significantly, from the Notice of Proposed Rulemaking ; (iii)
even if its FCC initiatives are successful, the Company may not be successful
in commercializing its spectrum assets to its targeted customers and markets;
(iv) the Company has no operating history with its proposed business plan,
which makes it difficult to evaluate its prospects and future financial
results, and its business activities, strategic approaches and plans may not
be successful; (v) the Company will need to secure additional financing to
support its long-term business plans; (vi) the Company may not be able to
correctly estimate its operating expenses or future revenues; (vii) many of
the third parties who have objected to the Company’s FCC initiatives, or with
whom it competes against, have more resources, and greater political and
regulatory influence; (viii) the value of the Company’s spectrum assets may
fluctuate significantly based on supply and demand, as well as technical and
regulatory changes; and (ix) spectrum is a limited resource, and the Company
may not be able to obtain sufficient contiguous spectrum to support its
spectrum initiatives or its planned business operations and future growth.
These and other factors that may affect the Company’s future results of
operations are identified and described in more detail in its filings with the
Securities and Exchange Commission (the “SEC”), including its Annual Report on
Form 10-K for the fiscal year ended March 31, 2019, filed with the SEC on May
20, 2019. You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. Except as
required by applicable law, the Company does not intend to update any of the
forward-looking statements to conform these statements to actual results,
later events or circumstances or to reflect the occurrence of unanticipated
events.