Global Capacity Changes Stock Symbol and Exchange
Published June 29th, 2009
Global Capacity, Inc. (parent: Capital Growth Systems, Inc. (OTC Pink Sheets: CGSY)), the world’s leading telecommunications information and logistics company, today announced that the Company’s stock has moved to the Pink Sheets pending completion of the Company’s annual 10-K filing for 2008, its 10-Q filing for the first quarter of 2009 and reinstatement of its common stock for trading on the OTC Bulletin Board. The stock is currently trading under the ticker symbol CGSY.PK.
As previously announced in its Form 8-K filings with the SEC, the Company has been delayed in filing financial reports pending completion of its 2008 audit. The Company’s change in independent registered public accountants and the complexity of the technical accounting treatment required with respect to the embedded derivatives resulting from the sophisticated financial instruments used in several of the Company’s financing transactions were factors in the delay, which has resulted in the suspension of trading from the OTC Bulletin Board. Completion of the audit and filing of financials with the SEC is expected during July, at which point the Company plans to apply for reinstatement of trading of its common stock on the OTC Bulletin Board.
More information can be found in the FAQ on the Investor Relations section of the Company’s website, www.globalcapacity.com.
About Global Capacity
Global Capacity (parent: Capital Growth Systems, Inc.) is a telecom information and logistics company providing a fully-integrated telecommunications supply chain management system that streamlines and accelerates the process of designing, pricing, building, optimizing, and managing customized communications networks. It offers a comprehensive suite of services to enterprises, systems integrators, and carrier customers worldwide. Global Capacity is headquartered in Chicago, IL, with operational centers in Waltham, MA and Manchester, England; and offices in Houston, TX; Glastonbury, CT; New York, NY; London, England; and Lisbon, Portugal. For more information, please visit www.globalcapacity.com or contact the Company at 312-673-2400.
