Earlier today, ERF Wireless announced that it has been ranked number 337 on Deloitte’s 2011 Technology Fast 500™, an annual ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. According to the release, ERF Wireless sales grew 245 percent during this period.
Utilizing proprietary intellectual property or technology in products that comprise a majority of the company’s operating revenues is a key requirement to becoming eligible for Technology Fast 500™ recognition. Companies must also have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Furthermore, companies have to be in business for a minimum of five years, with headquarters within North America.
ERF Wireless also told investors that it plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. Over the past few months, significant progress has been achieved in improving operating performance and the current trading range of its common stock. The market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved. Operating on a major securities exchange may significantly improve the liquidity of the company’s common stock and provide all stockholders the best opportunity for value appreciation.
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