(Mark
One)
x
|
QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE
ACT
OF 1934
|
FOR
THE PERIOD ENDING JUNE 30, 2006
|
|
OR
|
|
o
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE
ACT
OF 1934
|
FOR
THE TRANSITION PERIOD FROM ______TO
______
|
|
COMMISSION
FILE NUMBER 0 - 1325
|
|
Internet:
|
www.multibandusa.com
|
Three
Months Ended
|
Six
Months Ended
|
||||||||||||
June
30, 2006
(unaudited)
|
June
30, 2005
(unaudited)
|
June
30,
2006
(unaudited)
|
June
30,
2005
(unaudited)
|
||||||||||
REVENUES
|
$
|
4,501,737
|
$
|
4,183,606
|
$
|
8,905,781
|
$
|
7,890,482
|
|||||
COSTS
AND EXPENSES
|
|||||||||||||
Cost
of products and services (exclusive of depreciation and amortization
shown
separately below)
|
1,937,898
|
1,703,517
|
3,994,425
|
3,583,025
|
|||||||||
Selling,
general and administrative
|
2,909,038
|
2,377,575
|
5,881,261
|
4,524,487
|
|||||||||
Depreciation
and amortization
|
1,308,614
|
1,218,867
|
2,611,070
|
2,367,734
|
|||||||||
Total
Costs and Expenses
|
6,155,550
|
5,299,959
|
12,486,756
|
10,475,246
|
|||||||||
LOSS
FROM OPERATIONS
|
(1,653,813
|
)
|
(1,116,353
|
)
|
(3,580,975
|
)
|
(2,584,764
|
)
|
|||||
OTHER
EXPENSE
|
|||||||||||||
Interest
expense
|
(325,523
|
)
|
(373,013
|
)
|
(630,204
|
)
|
(1,058,714
|
)
|
|||||
Other
income
|
35,949
|
70,120
|
77,386
|
82,292
|
|||||||||
Total
Other Expense
|
(289,574
|
)
|
(302,893
|
)
|
(552,818
|
)
|
(976,422
|
)
|
|||||
LOSS
FROM CONTINUING OPERATIONS
|
(1,943,387
|
)
|
(1,419,246
|
)
|
(4,133,793
|
)
|
(3,561,186
|
)
|
|||||
INCOME
(LOSS) FROM DISCONTINUED OPERATIONS
|
-
|
122,892
|
2,200
|
(318,376
|
)
|
||||||||
NET
LOSS
|
(1,943,387
|
)
|
(1,296,354
|
)
|
(4,131,593
|
)
|
(3,879,562
|
)
|
|||||
Preferred
Stock Dividends
|
2,522,342
|
669,634
|
2,785,448
|
1,600,718
|
|||||||||
LOSS
ATTRIBUTABLE TO COMMON STOCKHOLDERS
|
$
|
(4,465,729
|
)
|
$
|
(1,965,988
|
)
|
$
|
(6,917,041
|
)
|
$
|
(5,480,280
|
)
|
|
BASIC
AND DILUTED - LOSS PER COMMON SHARE
|
|||||||||||||
Loss
from continuing operations
|
(.06
|
)
|
(.05
|
)
|
(.13
|
)
|
(.13
|
)
|
|||||
Income
(loss) from discontinued operations
|
.00
|
.00
|
.00
|
(.01
|
)
|
||||||||
Net
Loss
|
(.06
|
)
|
(.05
|
)
|
(.13
|
)
|
(.14
|
)
|
|||||
LOSS
ATTRIBUTABLE TO COMMON STOCKHOLDERS
|
(.13
|
)
|
(.07
|
)
|
(.21
|
)
|
(.20
|
)
|
|||||
WEIGHTED
AVERAGE SHARES OUTSTANDING - BASIC AND DILUTED
|
33,515,351
|
28,634,502
|
32,839,367
|
27,929,454
|
June
30, 2006
(unaudited)
|
December
31, 2005
(audited)
|
||||||
CURRENT
ASSETS
|
|
|
|||||
Cash
and cash equivalents
|
$
|
1,443,584
|
$
|
3,100,427
|
|||
Accounts
receivable, net
|
2,047,929
|
2,367,864
|
|||||
Inventories
|
222,279
|
241,015
|
|||||
Prepaid
expenses and other
|
175,092
|
216,885
|
|||||
Current
portion of notes receivable
|
6,000
|
11,316
|
|||||
Total
Current Assets
|
3,894,884
|
5,937,507
|
|||||
PROPERTY
AND EQUIPMENT, NET
|
5,159,762
|
5,247,240
|
|||||
OTHER
ASSETS
|
|||||||
Goodwill
|
954,871
|
954,871
|
|||||
Intangible
assets, net
|
12,247,710
|
13,923,542
|
|||||
Notes
receivable - long-term, net
|
65,324
|
61,341
|
|||||
Other
assets
|
110,916
|
146,904
|
|||||
Total
Other Assets
|
13,378,821
|
15,086,658
|
|||||
TOTAL
ASSETS
|
$
|
22,433,467
|
$
|
26,271,405
|
CURRENT
LIABILITIES
|
|||||||
Checks
issued in excess of cash in bank
|
$
|
281,854
|
$
|
93,005
|
|||
Current
portion of long-term debt
|
463,530
|
616,260
|
|||||
Current
portion of note payable - stockholder
|
30,000
|
32,837
|
|||||
Current
portion of capital lease obligations
|
224,755
|
179,932
|
|||||
Accounts
payable
|
1,973,881
|
1,761,249
|
|||||
Accrued
liabilities
|
2,399,437
|
2,741,054
|
|||||
Customer
deposits
|
62,011
|
64,161
|
|||||
Current
liabilities of discontinued operations
|
375,000
|
500,000
|
|||||
Deferred
service obligations and revenue
|
635,346
|
587,093
|
|||||
Mandatory
redeemable preferred stock, 28,000
and
33,334 Class F preferred shares
|
280,000
|
333,334
|
|||||
Total
Current Liabilities
|
6,725,814
|
6,908,925
|
|||||
LONG-TERM
LIABILITIES
|
|||||||
Long-term
debt, net
|
3,556,047
|
3,816,536
|
|||||
Capital
lease obligations, net of current portion
|
591,204
|
452,649
|
|||||
Long-term
liabilities of discontinued operations
|
—
|
125,000
|
|||||
Total
Liabilities
|
10,873,065
|
11,303,110
|
|||||
COMMITMENTS
AND CONTINGENCIES
|
|||||||
STOCKHOLDERS'
EQUITY
|
|||||||
Cumulative
convertible preferred stock, no par value:
|
|||||||
8%
Class A (27,151 and 27,931 shares issued and outstanding, $285,086
and
$293,276 liquidation preference)
|
411,952
|
419,752
|
|||||
10%
Class B (8,070 and 8,390 shares issued and outstanding, $84,735 and
$88,095 liquidation preference)
|
55,700
|
58,900
|
|||||
10%
Class C (124,730 and 125,050 shares issued and outstanding, $1,247,300
and
$1,250,500 liquidation preference)
|
1,604,405
|
1,607,605
|
|||||
10%
Class F (150,000 shares issued and outstanding, $1,500,000 liquidation
preference)
|
1,500,000
|
1,500,000
|
|||||
8%
Class G (45,245 shares issued and outstanding, $452,450 liquidation
preference)
|
179,897
|
179,897
|
|||||
6%
Class H (2.0 shares issued and outstanding, $200,000 liquidation
preference)
|
—
|
—
|
|||||
Variable
rate % Class I (65,000 and 90,000 shares issued and outstanding,
$6,500,000 and $9,000,000 liquidation preference)
|
—
|
—
|
|||||
Common
stock, no par value (34,306,865 and 32,134,558 shares issued and
outstanding)
|
25,782,328
|
22,801,405
|
|||||
Stock
subscriptions receivable
|
(270,288
|
)
|
(297,105
|
)
|
|||
Options
and warrants
|
44,745,287
|
44,259,540
|
|||||
Unamortized
compensation
|
—
|
(29,861
|
)
|
||||
Accumulated
deficit
|
(62,448,879
|
)
|
(55,531,838
|
)
|
|||
Total
Stockholders' Equity
|
11,560,402
|
14,968,295
|
|||||
TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY
|
$
|
22,433,467
|
$
|
26,271,405
|
|||
SIX
MONTHS ENDED JUNE 30,
|
|||||||
2006
|
2005
|
||||||
(unaudited)
|
(unaudited)
|
||||||
OPERATING
ACTIVITIES
|
|||||||
Net
loss
|
$
|
(4,131,593
|
)
|
$
|
(3,879,562
|
)
|
|
Adjustments
to reconcile net loss to net cash flows from operating
activities
|
|||||||
Depreciation
and amortization
|
2,709,244
|
2,521,933
|
|||||
Amortization
of deferred compensation
|
29,480
|
50,930
|
|||||
Amortization
of original issue discount
|
246,818
|
667,350
|
|||||
Gain
on sale of business segment
|
—
|
(103,491
|
)
|
||||
Warrants
issued for services
|
607
|
—
|
|||||
Common
stock issued for services
|
1,156
|
20,580
|
|||||
Loss
on sale of property and equipment
|
2,859
|
—
|
|||||
Change
in allowance for doubtful accounts receivable
|
(173,200
|
)
|
—
|
||||
Change
in reserve for stock subscriptions and interest receivable
|
21,434
|
—
|
|||||
Stock
based compensation expense
|
485,521
|
—
|
|||||
Changes
in operating assets and liabilities:
|
|||||||
Accounts
receivable
|
493,135
|
908,785
|
|||||
Inventories
|
18,736
|
(371,461
|
)
|
||||
Prepaid
expenses and other
|
40,929
|
13,735
|
|||||
Other
assets
|
35,988
|
—
|
|||||
Wholesale
line of credit
|
—
|
(1,000,987
|
)
|
||||
Accounts
payable and accrued liabilities
|
(143,701
|
)
|
(1,612,842
|
)
|
|||
Deferred
service obligations and revenue
|
48,253
|
65,092
|
|||||
Liabilities
of discontinued operations
|
(250,000
|
)
|
(125,000
|
)
|
|||
Customer
deposits
|
(2,150
|
)
|
2,439
|
||||
Net
cash flows from operating activities
|
(566,484
|
)
|
(2,842,499
|
)
|
|||
INVESTING
ACTIVITIES
|
|||||||
Purchases
of property and equipment
|
(580,049
|
)
|
(415,065
|
)
|
|||
Purchases
of intangible assets
|
(10,750
|
)
|
(209,225
|
)
|
|||
Purchase
of Ultravision
|
—
|
(287,050
|
)
|
||||
Proceeds
from sale of business segment
|
—
|
1,682,184
|
|||||
Collections
on notes receivable
|
1,859
|
—
|
|||||
Net
cash flows from investing activities
|
(588,940
|
)
|
770,844
|
||||
FINANCING
ACTIVITIES
|
|||||||
Checks
issued in excess of cash in bank
|
188,849
|
(37,773
|
)
|
||||
Payments
on short-term debt
|
-
|
(3,971,099
|
)
|
||||
Payments
on long-term debt
|
(460,037
|
)
|
(2,248,204
|
)
|
|||
Payments
on capital lease obligations
|
(75,742
|
)
|
(44,836
|
)
|
|||
Payments
on note payable to stockholder
|
(2,837
|
)
|
(51,964
|
)
|
|||
Payments
on mandatory redeemable preferred stock
|
(53,334
|
)
|
—
|
||||
Payments
for debt issuance costs
|
—
|
(25,000
|
)
|
||||
Proceeds
from issuance of stock and warrants
|
—
|
11,090,843
|
|||||
Proceeds
from issuance of long-term debt
|
—
|
2,000,000
|
|||||
Exercise
of warrants
|
—
|
6,960
|
|||||
Payments
received on stock subscriptions receivable
|
5,721
|
66,399
|
|||||
Redemption
of preferred stock
|
(14,200
|
)
|
(2,000
|
)
|
|||
Preferred
stock dividends
|
(107,839
|
)
|
(31,224
|
)
|
|||
Exercise
of stock options
|
18,000
|
—
|
|||||
Net
cash flows from financing activities
|
(501,419
|
)
|
6,752,102
|
||||
INCREASE
(DECREASE) IN CASH AND CASH EQUIVALENTS
|
(1,656,843
|
)
|
4,680,447
|
||||
CASH
AND CASH EQUIVALENTS
|
|||||||
Beginning
of period
|
3,100,427
|
726,553
|
|||||
End
of period
|
$
|
1,443,584
|
$
|
5,407,000
|
|||
SUPPLEMENTAL
DISCLOSURE OF CASH FLOW INFORMATION
|
|||||||
Cash
paid for interest, net of amortization of original issue
discount
|
$
|
258,754
|
$
|
417,870
|
|||
SUPPLEMENTAL
DISCLOSURES OF NON-CASH INVESTING AND FIN ANCING
ACTIVITIES
|
|||||||
Note
receivable recorded on sale of discontinued operations
|
—
|
339,051
|
|||||
Conversion
of preferred stock into common stock
|
2,370,000
|
850,001
|
|||||
Current
liabilities converted to stock
|
28,653
|
46,603
|
|||||
Conversion
of notes payable into common stock
|
200,000
|
648,001
|
|||||
Conversion
of accrued dividends into common stock
|
363,114
|
176,935
|
|||||
Common
stock issued in lieu of cash for other current assets
|
—
|
218,000
|
|||||
Issuance
of common stock for deferred financing costs
|
—
|
36,000
|
|||||
Capital
lease obligations related to property and equipment
|
259,120
|
—
|
June
30, 2006
|
December
31, 2005
|
||||||||||||
|
Gross
Carrying
|
Accumulated
|
Gross
Carrying
|
Accumulated
|
|||||||||
Amount
|
Amortization
|
Amount
|
Amortization
|
||||||||||
Intangible
assets subject to amortization
|
|||||||||||||
Domain
name
|
$
|
83,750
|
$
|
80,958
|
$
|
83,750
|
$
|
72,583
|
|||||
Right
of entry contracts
|
9,205,678
|
3,144,443
|
9,129,028
|
2,300,664
|
|||||||||
Subscriber
lists
|
10,151,809
|
4,063,637
|
10,151,809
|
3,261,483
|
|||||||||
Debt
issuance costs
|
499,837
|
404,326
|
499,837
|
306,152
|
|||||||||
Total
|
$
|
19,941,074
|
$
|
7,693,364
|
$
|
19,864,424
|
$
|
5,940,882
|
|||||
Intangible
assets not subject to amortization
|
|||||||||||||
Goodwill
|
$
|
954,871
|
$
|
—
|
$
|
954,871
|
$
|
—
|
|||||
Three
months ended
June
30, 2005
|
Six
months ended
June
30, 2005
|
||||||
Loss
attributable to common stockholders
|
$
|
(1,965,988
|
)
|
$
|
(5,480,280
|
)
|
|
Pro
forma loss attributable to common stockholders
|
(2,050,813
|
)
|
(5,865,199
|
)
|
|||
Basic
and diluted loss attributable to common stockholders:
|
|||||||
As
reported
|
(.07
|
)
|
(.20
|
)
|
|||
Pro
forma loss attributable to common shares
|
(.07
|
)
|
(.21
|
)
|
|||
Stock-based
compensation:
|
|||||||
As
reported
|
0
|
0
|
|||||
Pro
forma
|
84,825
|
384,919
|
Three
months ended
June
30, 2006
|
Three
months ended
June
30, 2005
|
Six
months ended
June
30, 2006
|
Six
months ended
June
30, 2005
|
||||||||||
Risk-free
interest rate
|
4.88
|
%
|
3.75
|
%
|
4.69
|
%
|
3.57
|
%
|
|||||
Expected
life of options granted
|
10
years
|
10
years
|
10
years
|
10
years
|
|||||||||
Expected
volatility range
|
215
|
%
|
208
|
%
|
215
|
%
|
211
|
%
|
|||||
Expected
dividend yield
|
0
|
%
|
0
|
%
|
0
|
%
|
0
|
%
|
Dinamo
|
||||
Allocation
of Purchase Price:
|
||||
Total
Cash/Stock/Notes Payable Consideration
|
$
|
1,727,500
|
||
Add:
Transaction Costs
|
176,525
|
|||
Add:
Liabilities assumed
|
170,200
|
|||
Total
Consideration
|
2,074,225
|
|||
Less:
Tangible assets
|
1,450,000
|
|||
Less:
Goodwill
|
150,000
|
|||
Intangible
assets
|
$
|
474,225
|
||
.
|
Number
of Warrants
|
Weighted
–
Average Exercise Price
|
|||||
Outstanding,
December 31, 2005
|
18,715,979
|
$
|
1.68
|
||||
Granted
|
670
|
2.20
|
|||||
Exercised
|
—
|
—
|
|||||
Cancelled
|
(472,338
|
)
|
(3.51
|
)
|
|||
Outstanding,
June 30, 2006
|
18,244,311
|
$
|
1.63
|
June
30, 2006
|
December
31, 2005
|
||||||
Payroll
and related taxes
|
$
|
454,183
|
$
|
391,707
|
|||
Accrued
preferred stock dividends
|
451,030
|
506,535
|
|||||
Accrued
liability-vendor charge backs
|
1,103,414
|
1,347,673
|
|||||
Other
|
390,810
|
495,139
|
|||||
Total
|
$
|
2,399,437
|
$
|
2,741,054
|
Multiband
Corp.
|
MDU
|
MCS
|
Discontinued
Operations
|
Total
|
||||||||||||
Three
months ended June 30, 2006:
|
||||||||||||||||
Revenues
|
$
|
—
|
$
|
2,643,217
|
$
|
1,858,520
|
$
|
—
|
$
|
4,501,737
|
||||||
Income
(loss) from operations
|
(1,060,690
|
)
|
1,148,971
|
(1,742,094
|
)
|
—
|
(1,653,813
|
)
|
||||||||
Identifiable
assets
|
3,734,559
|
7,259,784
|
11,439,124
|
—
|
22,433,467
|
|||||||||||
Depreciation
and amortization
|
59,208
|
401,079
|
848,327
|
—
|
1,308,614
|
|||||||||||
Capital
expenditures
|
1,110
|
—
|
216,933
|
—
|
218,043
|
Multiband
Corp.
|
MDU
|
MCS
|
Discontinued
Operations
|
Total
|
||||||||||||
Three months ended June 30, 2005: | ||||||||||||||||
Revenues
|
$
|
—
|
$
|
2,102,459
|
$
|
2,081,147
|
$
|
—
|
$
|
4,183,606
|
||||||
Income
(loss) from operations
|
(772,620
|
)
|
1,037,354
|
(1,381,087
|
)
|
—
|
(1,116,353
|
)
|
||||||||
Identifiable
assets
|
8,072,968
|
8,807,922
|
12,072,166
|
—
|
28,953,056
|
|||||||||||
Depreciation
and amortization
|
63,927
|
401,079
|
753,861
|
—
|
1,218,867
|
|||||||||||
Capital
expenditures
|
5,429
|
—
|
268,486
|
—
|
273,915
|
Six
months ended June 30, 2006:
|
Multiband
Corp.
|
MDU
|
MCS
|
Discontinued
Operations
|
Total
|
|||||||||||
Revenues
|
$
|
—
|
$
|
5,155,389
|
$
|
3,750,392
|
$
|
—
|
$
|
8,905,781
|
||||||
Income
(loss) from operations
|
(2,204,871
|
)
|
2,053,914
|
(3,430,018
|
)
|
—
|
(3,580,975
|
)
|
||||||||
Identifiable
assets
|
3,734,559
|
7,259,784
|
11,439,124
|
—
|
22,433,467
|
|||||||||||
Depreciation
and amortization
|
119,005
|
802,155
|
1,689,910
|
—
|
2,611,070
|
|||||||||||
Capital
expenditures
|
24,919
|
—
|
555,130
|
—
|
580,049
|
Six
months ended June 30, 2005:
|
Multiband
Corp.
|
MDU
|
MCS
|
Discontinued
Operations
|
Total
|
|||||||||||
Revenues
|
$
|
—
|
$
|
4,013,963
|
$
|
3,876,519
|
$
|
—
|
$
|
7,890,482
|
||||||
Income
(loss) from operations
|
(1,332,921
|
)
|
1,374,371
|
(2,626,214
|
)
|
—
|
(2,584,764
|
)
|
||||||||
Identifiable
assets
|
8,072,968
|
8,807,922
|
12,072,166
|
—
|
28,953,056
|
|||||||||||
Depreciation
and amortization
|
71,771
|
802,158
|
1,493,805
|
—
|
2,367,734
|
|||||||||||
Capital
expenditures
|
5,429
|
—
|
371,278
|
38,358
|
415,065
|
Sale
Price
|
||||
Cash
proceeds
|
$
|
1,682,184
|
||
Note
receivable
|
400,000
|
|||
Assumed
liabilities
|
438,868
|
|||
Total
sale price
|
2,521,052
|
|||
Assets
sold
|
||||
Inventory,
net of reserve
|
1,045,110
|
|||
Property
and equipment
|
52,351
|
|||
Net
assets sold
|
1,097,461
|
|||
Less
costs and expenses
|
||||
Broker’s
fee
|
122,500
|
|||
Other
selling expense
|
10,135
|
|||
Sublease
for one year at no charge
|
500,000
|
|||
Additional
free rent related to inventory adjustment
|
500,000
|
|||
Legal
and accounting costs
|
37,600
|
|||
Total
costs
|
1,170,235
|
|||
Net
gain on sale
|
$
|
253,356
|
Three
months ended June 30,
|
Six
months ended June 30,
|
||||||||||||||||||
Statement of Operations |
|
2006
|
2005
|
2006
|
2005
|
||||||||||||||
Revenues
|
$
|
—
|
$
|
14,052
|
$
|
—
|
$
3,698,927
|
||||||||||||
Cost
of sales
|
—
|
(11,117
|
)
|
—
|
2,701,664
|
||||||||||||||
Selling,
general and administrative
|
—
|
(106,903
|
)
|
(2,200
|
)
|
1,307,502
|
|||||||||||||
Depreciation
and amortization
|
—
|
—
|
—
|
56,188
|
|||||||||||||||
Income
(loss) from operations
|
132,072
|
2,200
|
(366,427)
|
||||||||||||||||
Other
income (expense)
|
—
|
(9,180
|
)
|
—
|
(55,440)
|
||||||||||||||
Net
income (loss)
|
—
|
122,892
|
2,200
|
(421,867)
|
|||||||||||||||
Gain
on sale
|
—
|
—
|
—
|
103,491
|
|||||||||||||||
Income
(loss) from discontinued operations
|
$
|
—
|
$
|
122,892
|
$
|
2,200
|
$
(318,376)
|
DOLLAR
AMOUNTS AS A PERCENTAGE OF REVENUES
|
DOLLAR
AMOUNTS AS A PERCENTAGE OF REVENUES
|
||||||||||||
THREE
MONTHS ENDED
|
SIX
MONTHS ENDED
|
||||||||||||
June
30, 2006
(unaudited)
|
June
30, 2005 (unaudited)
|
June
30, 2006
(unaudited)
|
June
30, 2005 (unaudited)
|
||||||||||
REVENUES
|
100
|
%
|
100
|
%
|
100
|
%
|
100
|
%
|
|||||
COST
OF PRODUCTS & SERVICES (Exclusive of depreciation and amortization
shown below)
|
43.0
|
%
|
40.7
|
%
|
44.9
|
%
|
45.4
|
%
|
|||||
SELLING,
GENERAL & ADMINISTRATIVE
|
64.6
|
%
|
56.8
|
%
|
66.0
|
%
|
57.3
|
%
|
|||||
DEPRECIATION
& AMORTIZATION
|
29.1
|
%
|
29.1
|
%
|
29.3
|
%
|
30.0
|
%
|
|||||
LOSS
FROM OPERATIONS
|
-36.7
|
%
|
-26.6
|
%
|
-40.2
|
%
|
-32.7
|
%
|
|||||
INTEREST
EXPENSE & OTHER, NET
|
-6.5
|
%
|
-7.2
|
%
|
-6.2
|
%
|
-12.4
|
%
|
|||||
LOSS
FROM CONTINUING OPERATIONS
|
-43.2
|
%
|
-33.8
|
%
|
-46.4
|
%
|
-45.1
|
%
|
|||||
INCOME
(LOSS) FROM DISCONTINUED OPERATIONS
|
0.0
|
%
|
2.9
|
%
|
0.0
|
%
|
-4.0
|
%
|
|||||
NET
LOSS
|
-43.2
|
%
|
-30.9
|
%
|
-46.4
|
%
|
-49.1
|
%
|
(a) |
An
annual meeting of Multiband Corporation shareholders was held on
June 20,
2006. There were present or present by proxy at the meeting 11,392,490
votes, the majority necessary to hold a
quorum.
|
(b) |
The
meeting resulted in the following votes related to the following
proxy
items:
|
For
|
Against
|
Abstain
|
||||||||
Bennett,
Mandel, Bell, Miller, Dodge, Harris
|
$
|
11,367,490
|
$
|
25,000
|
$
|
0
|
For
|
Against
|
Abstain
|
|||||
$11,392,490
|
$
|
0
|
$
|
0
|
(a)
|
Exhibits
|
31.1 |
Certification
of Chief Executive Officer pursuant to Rules 13a-14 and 15d-14 of
the
Exchange Act.
|
31.2 |
Certification
of Chief Financial Officer pursuant to Rules 13a-14 and 15d-14 of
the
Exchange Act.
|
32.1 |
Certification
of Chief Executive Officer pursuant to 18 U.S.C. Section
1350.
|
32.2 |
Certification
of Chief Financial Officer pursuant to 18 U.S.C. Section
1350.
|
MULTIBAND CORPORATION | ||
Registrant | ||
|
|
|
Date: August 14, 2006 | By: | /s/ James L. Mandel |
|
||
Chief Executive Officer |
|
|
|
Date: August 14, 2006 | By: | /s/ Steven M. Bell |
|
||
Chief Financial Officer | ||