Key Developments: Ambient Corp (AMBT.OQ)
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Latest Key Developments (Source: Significant Developments)
Ambient Corp Announces Delay In Filing Form 10-Q For June 2012
Ambient Corp announced by its filing of Form 12b-25 with the Securities and Exchange Commission the delay of the filing of its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2012. The delay in filing the 10-Q for the second quarter is due to the Company's determination that certain previously filed financial statements of the Company did not properly account for embedded derivative features of certain stock warrants previously issued by the Company. The Company had previously classified the value of these warrants to purchase common stock as equity. After further review, the Company determined that these instruments should have been classified as liabilities. To correct the accounting classification errors noted above, the Company will amend and restate its Annual Report on Form 10-K for the year ended December 31, 2011, and its quarterly report on Form 10-Q for the quarter ended March 31, 2012. As a result, the Company is unable to provide complete financial results for the quarter ended June 30, 2012, until that restatement process is complete. The Company is working diligently to properly value the warrants and complete the restatements. Amended filings are expected to be made within the next 15 days. Full Article
Ambient Corporation Files Registration Statement For Public Offering Of Common Stock
Ambient Corporation announced that it has filed a Form S-1 registration statement with the Securities and Exchange Commission for a proposed public offering of its common stock. Stifel Nicolaus Weisel will act as book-running lead manager for the proposed offering. Needham & Company, LLC and ThinkEquity LLC will serve as co-managers. Full Article
Ambient Corporation Announces Appointment Of Chief Financial Officer
Ambient Corporation announced the appointment of Mark Fidler as Chief Financial Officer (CFO). Mr. Fidler joined the Company as Principal Financial Officer and Vice President in June 2011 and became Chief Financial Officer, effective August 4, 2011, upon the listing of the Company's common stock on the NASDAQ Capital Market. Full Article
Ambient Corporation Issues FY 2011 Revenue Guidance
Ambient Corporation announced that for fiscal 2011, it expects total revenue to be approximately $50-$55 million. Full Article
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