Johns Creek, Georgia–(Newsfile Corp. – July 27, 2021) – Wegener Corporation (OTC Pink: WGNR) (“Wegener”), a provider of equipment for digital signage, television, and broadcast radio, today is addressing concerns over the recent sharp increase in the trading volumes and stock price of WGNR.

Wegener does not normally comment on market activity or market rumors but feels it is appropriate to issue the following remarks in light of the recent unusual activity related to its common shares.

“Since June 4, 2021, the trading volumes and the stock price of WGNR have increased significantly,” stated Troy Woodbury, President & CEO of Wegener Corporation. “We are very concerned about this significant volatility in the stock and believe that it is not supported by any fundamental change or improvement in Wegener bookings, revenue, secured and other debt, or earnings. Our current secured and other debt balances are considerable and significant. We urge shareholders to use extreme caution at this time when trading the WGNR stock as the real reason and driving force behind this stock volatility is not clear.”

ABOUT WEGENER

WEGENER® (Wegener Communications, Inc.), a wholly-owned subsidiary of Wegener Corporation (OTC Pink: WGNR), is a provider of equipment for digital signage and broadcast radio. With over 30 years of experience in optimizing point-to-multipoint multimedia distribution over satellite and IP networks, WEGENER offers a comprehensive product line that handles the scheduling, management and delivery of media rich content to multiple devices, including video screens, computers and audio devices. WEGENER focuses on long- and short-term strategies for bandwidth savings, dynamic advertising, live events and affiliate management.

WEGENER’s product line includes: Audiocaster audio receiver, iPump® media servers for file-based and live broadcasts; COMPEL® Network Control and COMPEL® Conditional Access for dynamic command, monitoring and addressing of multi-site video, audio, and data networks; and the Unity® satellite media receivers for live radio and video broadcasts. Applications served include: digital signage, linear and file-based TV distribution, linear and file-based radio distribution, broadcast news distribution, business music distribution, corporate communications, video and audio simulcasts.

WEGENER® can be reached at (770) 814-4000 or at www.wegener.com.

WEGENER, COMPEL, COMPEL CONTROL, iPUMP, UNITY, the stylized W-design logo (for WEGENER®), and the stylized C-design logo (for Compel®) are all registered trademarks of WEGENER®. All Rights Reserved.

This news release may contain forward-looking statements within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995, and the Company intends that such forward-looking statements are subject to the safe harbors created thereby. Forward-looking statements may be identified by words such as “believes,” “expects,” “projects,” “plans,” “anticipates,” and similar expressions, and include, for example, statements relating to expectations regarding future sales, income and cash flows. Forward-looking statements are based upon the Company’s current expectations and assumptions, which are subject to a number of risks and uncertainties including, but not limited to: customer acceptance and effectiveness of recently introduced products, development of additional business for the Company’s digital video and audio transmission product lines, effectiveness of the sales organization, the successful development and introduction of new products in the future, delays in the conversion by private and broadcast networks to next generation digital broadcast equipment, acceptance by various networks of standards for digital broadcasting, the Company’s liquidity position and capital resources, general market conditions which may not improve during fiscal year 2021 and beyond, and success of the Company’s research and development efforts aimed at developing new products. All statements and comments involve risks and uncertainties and are subject to change at any time. The Company’s actual results could differ materially from expected results. Forward-looking statements speak only as of the date the statement was made. The Company does not undertake any obligation to update any forward-looking statements.

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INVESTOR RELATIONS CONTACT:
Troy Woodbury- Investor Relations
WEGENER
(770) 814-4015
Email: [email protected]

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91343

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