Asif Suria

Towerstream Trading Below Cash

I saw the filing about 35 employees getting laid off and also talked to an ex-employee yesterday.

Since the second quarter has not yet ended and sales in first quarter of 2009 grew 64%, I am not sure where you are getting your 33% growth number from. In face for full year 2008, revenue grew 54% when compared to 2007.

From my understanding, the growth has been driven by offering lower priced products such as the $500/month 5 MBPS product. I have been approached by Towerstream sales about this product in my role as the Director of IT for a small company and have seen companies switch to Towerstream within the last year.

The allegation of false numbers is very serious and it would benefit everyone if you can back up these allegations with some details.