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ARC Wireless Solutions, Inc.: NASDAQ Issues Staff Deficiency Letter to ARC Wireless

^{Published on 2008-12-23 13:27:10, Last Modified on 2008-12-23 13:27:55 - Market Wire}
 

WHEAT RIDGE, CO--(Marketwire - December 23, 2008) - ARC Wireless Solutions, Inc. ("ARC") (NASDAQ: [ ARCW ]) today announced that on December 16, 2008, ARC Wireless Solutions, Inc. (the "Company") received a letter from the NASDAQ Stock Market ("NASDAQ") indicating that the Company does not have a majority of independent directors and a minimum of three independent audit committee members as required for continued listing on the NASDAQ under NASDAQ Marketplace Rules 4350(c)(1) and 4350(d)(2), respectively. At the present time, one of the Company's three Board members is independent. The Company has informed NASDAQ that it is finalizing arrangements with one individual who is anticipated to join the Board as a second independent director in January 2009 and that it is interviewing other candidates to become a third independent director as soon as possible.

About ARC Wireless Solutions, Inc.

ARC Wireless Solutions, Inc. is involved in selective design, manufacturing, marketing and selling of a broad range of wireless components and network products and accessories. The Company develops, manufactures and markets proprietary products, including Wi-Fi® and WiMAX™ panel antennas, mobile GPS, and cellular antennas, as well as base station antennas (for cellphone towers), through its Wireless Communications Solutions Division; it designs, manufactures and distributes cable assemblies for cable, satellite and other markets through its Starworks Wireless Inc. subsidiary; and it negotiates and manages its contract manufacturing relationships through its ARC Wireless Hong Kong Ltd. subsidiary. The Company's products and systems are marketed through the Company's internal sales force, OEMs, reseller distribution channels, retail, and the Internet. ARC Wireless Solutions, Inc., together with its Wireless Communications Solutions Division and its Starworks Wireless Inc. subsidiary, are headquartered in Wheat Ridge, Colorado. The Company's Hong Kong subsidiary is located in Central, Hong Kong. For more information about the Company and its products, please visit our web sites at [ www.arcwireless.net ], [ www.antennas.com ], [ www.starworkswireless.com ] and [ www.arcwirelesshk.net ]

This is not a solicitation to buy or sell securities and does not purport to be an analysis of the Company's financial position. This Release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in the forward-looking statements and assumptions upon which forward-looking statements are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. See the Company's most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K for additional statements concerning important factors, such as demand for products, manufacturing costs, and competition, and the Company's ability to successfully utilize its cash, that could cause actual results to differ materially from the Company's expectations. The Company does not intend (and is not obligated) to update publicly any forward-looking statements.