On August 3, 2006 Pegasus Wireless Corporation (NASDAQ: PGWC, $5.76) announced the company’s use of MetricStream Software (Click Here to Read PGWC: MetricStream Does Not Address PGWC’s Compliance Woes).
PGWC’s President and newly appointed “Co-CEO” Jasper Knabb, stated “Due to their strategic alliance with the NASDAQ, we selected MetricStream’s software solutions and ComplianceOnline.com as the foundation for all of our compliance initiatives.” ComplianceOnline.com is MetricStream’s website subsidiary.
It seems clear that the announcement of PGWC’s use of MetricStream was nothing more than a thinly veiled method of invoking the NASDAQ name in PGWC’s stock promotion. The latest use of the NASDAQ name in PGWC’s promotion comes after the NASDAQ suffered the embarrassment of having such a questionable company ring the NASDAQ’s opening bell on July 21st, 2006, and after PGWC’s President and “Co-CEO” was featured on the NASDAQ website in a NASDAQ CEO Signature Series interview.
As for the “strategic alliance” between MetricStream and the NASDAQ, it turns out to be nothing more than a discount partnership, in which NASDAQ listed companies receive up to a 30% discount for purchasing MetricStream software and products.
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