PGWC

[hawk]

after falling down ,this one is giving reverse signals.

come on guys, give some opinions.

[kslifka]

Sorry Hawk...I don't see much for reverse signals.

That is one ugly looking chart.

[sanmiguelarcangel]

Hi  , I think it is going to be headed down a little bit more. This is one to keep on the watch list for sure. A lot of naked shorting from which was going on has crippled this stock. This one will reverse soon !! This one will surprise you kslifka.

[sanmiguelarcangel]

we need to take back this stock from those naked short seller devils !!!!! 

[sanmiguelarcangel]

first day of reversal .

[sanmiguelarcangel]

This is truely a chart reversal imo. I strongly believe that the shorts are covering,28 days almost up. At the same time every month stock goes up. Its that time!!

[setravis]

Press Release Source: Pegasus Wireless Corp.


Pegasus Wireless to Move from Nasdaq
Monday September 25, 7:39 pm ET 
Company Will Continue to Comply With All SEC Reporting Obligations


FREMONT, Calif.--(BUSINESS WIRE)--Pegasus Wireless Corp. (Nasdaq:PGWC - News), a leading provider of advanced wireless solutions, today announced that it has applied to withdraw its securities from listing on the Nasdaq Global Market by October 26, 2006, at which time the

(((Company expects Pegasus Wireless stock to immediately begin trading on another listed exchange or the OTC Bulletin Board))).


In a letter to Nasdaq the Company said, "Over the preceding two months, the common stock of PGWC has experienced significant volume increases, price reductions and volatility. PGWC believes that it is in its shareholders' best interest" to take this action.

The Company noted that it is in compliance with all the Nasdaq Global Market listing requirements.

Commenting on the decision, Pegasus Wireless CEO Jasper Knabb stated, "Taking into consideration current market environments and trading patterns over the last six months, the Board has determined that maintaining the listing of Pegasus Wireless' common stock on Nasdaq no longer serves the best interests of the Company and its stockholders."

The Company said that it will continue to comply with its obligations under the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder, including filing annual reports on Form 10-KSB and quarterly reports on Form 10-QSB. The Company said that it also intends to maintain internal control and governance procedures in line with the Sarbanes-Oxley Act of 2002.

"The Board of Directors considers it critical to maintain a viable market for the Company's common stock. For this reason we are working to ensure a smooth transition to another listed exchange or the OTC Bulletin Board. Moreover, we believe that by withdrawing from Nasdaq the Company will be able to expend more of its time and resources on growing the Company and manufacturing and marketing wireless products which in turn will be more beneficial to our shareholders," Mr. Knabb concluded.

About Pegasus Wireless Corp.

Pegasus Wireless Corp. is a leading provider of advanced wireless solutions. Pegasus creates hardware and software solutions for broadband wireless networking and Internet access applications through its manufacturing facilities located in China and Taiwan. Pegasus' patented 802.11 technology is the platform for Wi-Fi technology, and the company offers cutting edge wireless products used in computer networking, industrial data transmission, and multimedia applications. Pegasus pioneered the industry's first driver-less, truly plug-and-play wireless Ethernet bridge, and the company's wireless networking products allow a higher user capacity per base station as compared to the competition. These products also offer advanced security, easy true plug-n-play installation, dynamic load balance, non-interrupting real-time roaming connectivity, e.g. VOIP, and fail-safe, self-healing mesh networking capability. Products are distributed through the company's facility located in California. Pegasus Wireless Corp. can be contacted at 510-490-8288 or by visiting their website at http://www.pegasuswirelesscorp.com/.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. These forward-looking statements, which include, without limitation, the Company's expectation that its securities will trade on another listed exchange or on the OTC Bulletin Board and the Company's intent to comply with certain provisions of the Sarbanes-Oxley Act of 2002, involve known and unknown risks, uncertainties and other factors. Such uncertainties and risks include, among others, success in reaching target markets for services and products in a highly competitive wireless technology market, the ability to maintain existing and attract future customers; the ability to finance and sustain operations, including the ability to comply with the terms of working capital facilities and/or other term indebtedness of the Company, and to extend such obligations when they become due, or to replace them with alternative financing; the ability to raise equity capital in the future; the ability to achieve and sustain profitability; the ability to maintain business relationships with product vendors and service providers; the ability to retain a skilled professional staff and certain key executives; and such other risks and uncertainties included in the Company's Annual Report on Form 10-KSB and other filings with the Securities and Exchange Commission. The Company has no obligation to publicly release the results of any revisions, which may be made to any forward-looking statements to reflect anticipated or unanticipated events or circumstances occurring after the date of such statements.



Contact:
Sitrick And Company
Mark Saylor or Maya Pogoda, 310-788-2850

--------------------------------------------------------------------------------
Source: Pegasus Wireless Corp.

[setravis]

Hi  , I think it is going to be headed down a little bit more. This is one to keep on the watch list for sure. A lot of naked shorting from which was going on has crippled this stock. This one will reverse soon !! This one will surprise you kslifka.

The surprise is there.....   

[la-onda]

A)

Attack On Pegasus
Liz Moyer, 10.03.06, 6:00 AM ET
There's a hit out on Pegasus Wireless.
As if a 95% plummet in its stock price since May weren't enough, signs of trouble were already popping up before the Fremont, Calif., wireless equipment maker moved its stock from the over-the-counter bulletin boards to the Nasdaq national market in April.
In March, Pegasus Chief Executive Jasper Knabb began getting e-mails from individuals in Europe who said they had questions about a private placement in Pegasus. Trouble is, Pegasus had not arranged a private placement.
Instead, a Nevis-based advisory firm called Oxbridge International had arranged it without the knowledge or authorization of Pegasus. According to e-mails and other records, Oxbridge representatives cold-called the investors and got them to invest amounts in the range of $1,700 to $2,800 each by wiring money to bank accounts in Spain or the U.S. and filling out a few forms.
"How stupid I have been," writes one U.K. investor. (See: "Oxbridge Scams Pegasus.")
What took place during the following six months would become a source of increasing alarm inside Pegasus.
It all started in April, when Pegasus listed on Nasdaq. An increase in trading volume was to be expected, as Pegasus shares got wider scrutiny and as they were added to the Russell 2000 index. Institutions stepped in to buy shares. By the end of June, top institutional holders included Goldman Sachs Group, Vanguard and the Ohio Public Employees Retirement System.
But the volume continued to accelerate beyond what some thought was normal-- beyond 1 million shares a day--and the stock, which peaked at $18.90 a share in late May, began a precipitous collapse.
Negative news reports started appearing, even as the company reported positive earnings and made plans to unveil its promising new technology that allows video streaming from a home computer to television sets throughout a house. In late August, Pegasus customers and suppliers began getting strange e-mails attempting to warn them away from Pegasus, claiming mismanagement in one of its majority-owned subsidiaries.
Records held by Pegasus' transfer agent indicated there may be as many as 30 million more shares out there than it has on record. That suggests that short-sellers have been selling shares without actually borrowing them--a controversial practice known as naked short-selling.
Knabb says he pleaded with market regulation officials at Nasdaq to look into the seemingly unusual activity, but it continued. The unrelenting pressure prompted Knabb to make a critical decision a week ago: he would voluntarily de-list his company from the Nasdaq rather than stick around.
"The fight is just beginning," Knabb said in an interview last month. "But I can't win a battle in this market when no one is willing to help us."

Knabb has reluctantly joined a group of companies and individuals who are contending that loopholes in the financial system are giving manipulators wide latitude with which to operate, under the not so watchful eye of regulators and largely outside the knowledge of small-time investors, who won't realize what hit them until it's too late.

Of course it could be that Pegasus is just a poor investment, as some have asserted. At $18.90 a share, the valuation was rich. Revenues are on a trajectory to hit $100 million this year, up from $3 million last year, but a good portion of the growth came from acquisitions. Margins are improving, and sales are set to increase once new products hit the shelves, but they haven't hit the shelves yet.

Pegasus shares have fallen from $18.90 to about 61 cents. They were trading at $13 a share on April 21, the day of the Nasdaq listing.

Pegasus, best known for its wireless Ethernet bridges, is the amalgamation of several reverse mergers and several partial acquisitions in the last few years. Last week, it unveiled what it considers to be its most exciting product yet, a device that allows consumers to wirelessly stream DVD-quality video from a computer or a camera to any television in their home. TV production company Boxx Communications won a technical Emmy Award this year using the technology.

It's the same type of product virtually all of Pegasus' rivals are developing, including Apple Computer, Intel, Hewlett-Packard and smaller companies like NetGear. Pegasus claims to be the first out with its version, however.

The technology is the next evolution in a market that has seen an explosion in the popularity of devices for downloading music or real-time news broadcasts. "This is a chance where smaller, more nimbly fitted companies can step out of the shadow" of behemoths like Cisco Systems and Apple, says Robert Egan, a consultant at Tower Group.

But while it was gearing up for market, Pegasus found itself mired in something largely out of its control. An official at the U.S. Securities and Exchange Commission wouldn't confirm whether any investigation was taking place. Nasdaq also won't comment on whether an investigation had been opened.

But a market regulator, speaking on background, said, "It's clear that there are certainly some red flags" here.

Published accounts about the company focus on Knabb's prior business history, and allege that Pegasus is a scam run by a penniless snake oil salesman. One article called him a "self-promotional huckster" and concluded that the company was "doomed under his leadership."

Much of what has been written is a distortion or an outright fabrication, Knabb says. At least to the point of his financial condition, a review of his personal bank accounts shows Knabb invested more than $16 million of his own money in Pegasus over the last year, all of it in cash, in exchange for restricted shares.
And the records show Knabb has plenty more cash available to invest in the company.
The steepest drop in Pegasus came after the company laid out the terms of a warrant issue in early August. Knabb says he wanted to reward investors for sticking around while the stock dropped, and he wanted to do so without diluting the shares.

The warrant was payable only to beneficial owners, however, meaning brokerages holding shares in street name for investors would have to report to the transfer agent who owned what and how many shares they had. Some brokers resisted.

The episode raised a fresh round of criticism directed at Knabb, who was accused of trying to manipulate his share price up by forcing short-sellers to cover their positions.
It remains to be seen whether the attack on the stock will make it harder for Pegasus to get its product on store shelves. Costco representatives attended an event last Thursday in New York when the new video-streaming technology was unveiled. Best Buy, which had also been invited, pulled out.
Knabb says that there are five more products in the pipeline and that the company is exploring a number of opportunities, including a licensing arrangement with Microsoft.
Just because the stock is down doesn't mean he's going away. "We're going to survive this," says Knabb. "Hopefully, if we've done everything right, our numbers will reflect what we've put in our business."

http://www.forbes.com/2006/10/02/pegasus-attacks-shorts-biz-cx_lm_1003pegasus_print.html

B)
Insider are buying:
http://206.222.29.162/history/company.jsp?company=PGWC

C)
2nd story from forbes:
Oxbridge Scams Pegasus
Liz Moyer, 10.03.06, 6:00 AM ET

Oxbridge International portrays itself as a provider of structured financial services and expert advice whose primary aim "is to help our clients become financially independent."
That's what it says on its Web site, anyway.
But the Financial Services Authority, the British version of the U.S. Securities and Exchange Commission, has been warning consumers about Oxbridge since last fall. The Nevis-based advisory company is not authorized to do business in the U.K., the FSA said, and it was believed to be targeting individuals in the U.K. with various financial schemes.
One such scheme appears to have been a phony private placement in Fremont, Calif.-based Pegasus Wireless. (For a broader look at the attacks on Pegasus shares, see: "Attack On Pegasus.")
In March, Pegasus Chief Executive Jasper Knabb began getting e-mails from individuals in the U.K. who were inquiring about their shares from a private placement organized by Oxbridge.
One participant was instructed to wire her payment to an account in the name of Delaware Escrow Co., which turns out to be run by L. Van Stillman, a disbarred Florida attorney who had been one of the targets of a 2000-2001 pump and dump scheme that resulted in SEC sanctions. A telephone number listed for Stillman in Florida has been disconnected, and other efforts to locate him for comment were not successful.
The street address given for Delaware Escrow turns out to be a private residence with a backyard pool in Las Vegas.
The would-be investor, describing herself as a pensioner, laments her decision to participate, telling Knabb, "All along I have had the feeling that something was not right with these shares."
Oxbridge International solicited an individual in Scotland by telling him that Pegasus was the likely subject of a takeover by a much bigger tech firm, Cisco Systems. No such takeover happened.
A spokeswoman for the FSA said that such schemes had been popping up with increasing frequency.
Messages left with a receptionist at Oxbridge's offices in Nevis went unreturned by any of the executives at the firm.
Knabb says the unauthorized placement of stock in his company was reported to the SEC and to Nasdaq, as part of the process of moving Pegasus from the over-the-counter bulletin boards to the Nasdaq in April.

[la-onda]

Pegasus Clips Its Own Wings

http://www.fool.com/news/commentary/2006/commentary06092616.htm

By Seth Jayson (TMF Bent)
09/26/2006

Hobbling your own horse
It's no surprise to me that Pegasus Wireless(Nasdaq: PGWC) is delisting from the Nasdaq. The novelty is that it seems to have made the decision to do so on its own. Normally, getting tossed off the Naz onto the Amex, or the OTC Bulletin Board, would be a mark of shame, but Pegasus CEO Jasper Knabb claims that this move is "in the best interests" of the company or shareholders. Read a bit more of the press release and you'll see why.

Knabb is, once again, trying to fight the shorts. He's dismayed at the volume of trading on his stock, the release says, and even worse, the price decline.

Why Knabb, or anyone, for that matter, believes that moving the stock to a less liquid market can possibly help with volatility is beyond comprehension. I can't believe he could even make that argument with a straight face, but I'm sure it will play well with the message-board peanut gallery, which has been screaming about shorting (and alleged naked shorting) for weeks now.

Me, I like to savor the hypocrisy: Neither Knabb nor his cheerleading shareholders seemed so concerned about the volume and price increases that occurred earlier in the year. Let's be clear here. The run-up was completely unwarranted. The move tripled the stock of this marginally profitable company -- an outfit that has sported negative free cash flow since 2004. At $18 a share back in May, Pegasus was worth nearly $1.5 billion, or about 18 times trailing revenues. In other words, this thing was horrendously overvalued.

Wait, stocks can go down, too?
But, hey, no one cares about crazy trading when the stock goes up. When things turn the other way, though, watch out. The first hint that Knabb was concerned about the share price was probably the warrant scheme, which was an attempt to pull borrowed shares back from shorts by promising shareholders a warrant only if they took their stock out of street name. The next was the abrupt halt of Knabb's previously well-publicized "insider buying" campaign.

The warrant scheme was the catalyst that convinced me to dig a lot more deeply into the histories of Knabb and CFO Stephen Durland, and what I found was pretty ugly. Overhyped companies that rise and fall to near zilch. Penny stocks galore. Lawsuits. Paid promoters. Disbarred lawyers. Get the full story here.

Short story, tall tale
But in this day and age, even a CEO and CFO with an amazing record of microcap tomfoolery can find a sympathetic ear out there -- at least if they've got a market story with sufficient nudity.

Enter Forbes' Liz Moyer, who seems to have swallowed the Pegasus peanut gallery's short story hook, line, and sinker. Worse yet, she believes the Pegasus corporate party line -- that an unproven outfit like Pegasus is going to outmaneuver Apple(Nasdaq: AAPL), Hewlett-Packard(NYSE: HPQ), Cisco(Nasdaq: CSCO), and everyone else playing in the hotly contested PC-to-TV video-streaming market. I'm not kidding. She opens her Monday night article with this line, "Jasper Knabb and his streaming video technology is [sic] about to beat Steve Jobs to the punch."

Beat Steve Jobs to the punch? Trust me, they're not quaking in Cupertino. Nor is anyone else. That's because Pegasus isn't beating anyone to the punch on this. PC-to-TV streaming products already exist. Among current providers is a little company called Microsoft(Nasdaq: MSFT), which already sells two separate systems that can stream video from a PC to a TV, one of them being the very popular Xbox 360.

Down the rabbit hole
Pegasus is already 50 shades of weird, but it gets crazier all the time. Recently, I've noticed that one of the biggest message-board knuckleheads out there, a guy who pumps Pegasus relentlessly at Yahoo! Finance, seems remarkably well informed about Pegasus' upcoming press. I mean, he sometimes seems to know what's going to happen before it happens. I normally don't pay too much attention to the rantings of folks like this, but recently I've had to wonder. How does a guy who can't find and deactivate his caps lock key know this stuff?

In the past, he's told me about Pegasus PR hours before it hit the wires. And over the past few days, he's been promising a sympathetic article from a well-known business magazine. Was he talking about the Moyers piece for Forbes?

Is management feeding him this info, or is this all just a lucky coincidence?

Hey, maybe it's nothing, but it sure looks strange, and it doesn't do anything to instill my confidence in Pegasus' management.

Foolish bottom line
As I've noted before, battling the shorts via warrant grants or other manipulative means is not likely to be a successful approach. (The research is here.) Shareholders take note: According to that research paper, investing in companies that battle shorts is a good way to generate returns of -2% per month.

In fact, I'm convinced that Knabb brought most of the recent downward pressure on himself. His short-sighted crusade against the shorts certainly made headlines, but of the wrong kind, alas. Smart shorts out there know that CEOs with something to bring to the table -- for instance, sustainable growth and earnings -- would just shut up and bury the shorts with results.

Trying to fight shorts by releasing short-busting PR is like trying to restore your severed finger by dipping your bleeding hand in a shark tank.

Adding it all up, things look pretty bad for anyone with faith in Pegasus. The stock has dropped as much as 28% already today. And if the price history of other companies fronted by Knabb and Durland is any indication, I wouldn't be surprised to see Pegasus trading for even fewer pennies very soon.

Don't be suckered in by Knabb's exchange-swaps or Forbes' reassurances, Fools. Moyer is just plain wrong on this one. There are plenty of good reasons for Pegasus' huge fall, and unless Knabb can deliver something other than gimmicks and PR, Pegasus will be no phoenix.

At the time of publication, Seth Jayson was long Microsoft common and calls but had no positions in any other company mentioned here. View his stock holdings and Fool profile here. See what he's Digging these days. Microsoft is a Motley Fool Inside Value pick. Fool rules are here.

Forbes vs. Motley Fool; very interesting IMO !

[la-onda]

just on fire today 
on no news

[gjramayya]

Hello,
Updated news with income statement Dec 5th:
http://finance.yahoo.com/q/is?s=pgwc.ob
Dec 1st:
http://biz.yahoo.com/pz/061201/109658.html

It has hit the bottom on no news today...lower than the previous low of $0.49 or $0.40
Expecting to have an upward swing tomorrow...$$$
Adding 530 shares at $0.32
George

[gambler2075]

bottom play, imo... now at 32c... bought 11k for the double. new pr's are coming out about cynalynx...

g

[gambler2075]

Not bad... nice volume coming in at the close today...
tomorrow should be interesting.

(new symbol pgsw.ob)

the runup from 5 days ago essentially coincides with this article..

http://www.gearlog.com/2007/03/the_pegasus_mediastreaming_giz.php

[labatts6254]

gambler,

This looks like an interesting play...

"It streams anything off your desktop and onto your TV, including commercial DVDs, and it sends a 5.1-channel audio signal to boot."

How cool is that?  Who doesn't want one?

"And none of 'em can send the contents of an ordinary DVD across the airwaves. Except the Pegasus Cynalynx.  Which didn't really exist until a few days ago."

"Pegasus recently opened a manufacturing plant in The Bahamas (of all places!), where it seems to have finally resolved its financial and manufacturing difficulties and is hard at work making and shipping products to the world. "

This is very good news.  What do we have to lose at 35 cents?

Cheers,