(Mark One)
x
|
QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT
OF 1934
|
¨
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT
OF 1934
|
Three Months Ended
|
||||||||
March 31, 2009
(unaudited)
|
March 31, 2008
(unaudited)
|
|||||||
REVENUES
|
$
|
62,158
|
$
|
5,714
|
||||
COSTS
AND EXPENSES
|
||||||||
Cost
of products and services (exclusive of depreciation and amortization shown
separately below)
|
47,316
|
3,820
|
||||||
Selling,
general and administrative
|
13,740
|
1,855
|
||||||
Depreciation
and amortization
|
3,285
|
738
|
||||||
Impairment
of assets
|
-
|
58
|
||||||
Total
costs and expenses
|
64,341
|
6,471
|
||||||
LOSS
FROM OPERATIONS
|
(2,183
|
) |
(757
|
)
|
||||
OTHER
EXPENSE
|
||||||||
Interest
expense
|
(855
|
)
|
(100
|
)
|
||||
Interest
income
|
7
|
-
|
||||||
Other
income
|
250
|
40
|
||||||
Total
other expense
|
(598
|
) |
(60
|
) | ||||
NET
LOSS BEFORE INCOME TAXES AND NONCONTROLLING INTEREST IN
SUBSIDIARIES
|
(2,781
|
)
|
(817
|
)
|
||||
PROVISION
FOR INCOME TAXES
|
100
|
29
|
||||||
NET
LOSS
|
(2,881
|
)
|
(846
|
)
|
||||
LESS:
NET INCOME (LOSS) ATTRIBUTABLE TO THE NONCONTROLLING INTEREST IN
SUBSIDIARIES
|
(296
|
)
|
18
|
|||||
NET
LOSS ATTRIBUTABLE TO MULTIBAND CORPORATION AND
SUBSIDIARIES
|
(2,585
|
)
|
(864
|
)
|
||||
Preferred
stock dividends
|
73
|
3,881
|
||||||
LOSS
ATTRIBUTABLE TO COMMON STOCKHOLDERS
|
$
|
(2,658
|
)
|
$
|
(4,745
|
)
|
||
LOSS
PER COMMON SHARE – BASIC AND DILUTED:
|
||||||||
LOSS
ATTRIBUTABLE TO COMMON STOCKHOLDERS
|
$
|
(0.28
|
)
|
$
|
(0.56
|
)
|
||
Weighted
average common shares outstanding – basic and diluted
|
9,650
|
8,498
|
Three Months Ended
|
||||||||
March 31, 2009
(unaudited)
|
March 31, 2008
(unaudited)
|
|||||||
NET
LOSS
|
$
|
(2,585
|
) |
$
|
(864
|
)
|
||
OTHER
COMPREHENSIVE INCOME, NET OF TAX:
|
||||||||
Unrealized
gains on securities:
|
||||||||
Unrealized
holding gains arising during period
|
30
|
209
|
||||||
COMPREHENSIVE
LOSS
|
$
|
(2,555
|
) |
$
|
(655
|
)
|
March 31, 2009
(unaudited)
|
December 31, 2008
(audited)
|
|||||||
CURRENT
ASSETS
|
||||||||
Cash
and cash equivalents
|
$
|
3,640
|
$
|
4,346
|
||||
Securities
available for sale
|
76
|
46
|
||||||
Accounts
receivable, net
|
12,099
|
3,437
|
||||||
Other
receivable – related party
|
2,290
|
7,666
|
||||||
Inventories
|
16,241
|
1,903
|
||||||
Prepaid
expenses and other
|
4,310
|
1,273
|
||||||
Current
portion of notes receivable
|
61
|
61
|
||||||
Total
Current Assets
|
38,717
|
18,732
|
||||||
PROPERTY
AND EQUIPMENT, NET
|
8,217
|
2,033
|
||||||
OTHER
ASSETS
|
||||||||
Goodwill
|
36,817
|
1,095
|
||||||
Intangible
assets, net
|
28,674
|
3,668
|
||||||
Notes
receivable – long-term, net of current portion
|
63
|
39
|
||||||
Other
assets
|
2,119
|
476
|
||||||
Total
Other Assets
|
67,673
|
5,278
|
||||||
TOTAL
ASSETS
|
$
|
114,607
|
$
|
26,043
|
March 31, 2009
(unaudited)
|
December 31, 2008
(audited)
|
||||||
CURRENT
LIABILITIES
|
|||||||
Mandatory
redeemable preferred stock, 5,000 and 15,000 Class F preferred
shares
|
$
|
50
|
$
|
150
|
|||
Line
of credit
|
40
|
-
|
|||||
Short
term debt
|
764
|
-
|
|||||
Current
portion of long-term debt
|
1,618
|
1,609
|
|||||
Current
portion of capital lease obligations
|
420
|
311
|
|||||
Accounts
payable
|
42,053
|
8,274
|
|||||
Accrued
liabilities
|
22,549
|
4,435
|
|||||
Deferred
service obligations and revenue
|
1,530
|
1,488
|
|||||
Total
Current Liabilities
|
69,024
|
16,267
|
|||||
LONG-TERM
LIABILITIES
|
|||||||
Long-term
debt, net of current portion
|
33,860
|
346
|
|||||
Capital
lease obligations, net of current portion
|
415
|
317
|
|||||
Total
Liabilities
|
103,299
|
16,930
|
|||||
COMMITMENTS
AND CONTINGENCIES
|
|||||||
STOCKHOLDERS'
EQUITY
|
|||||||
Cumulative
convertible preferred stock, no par value:
|
|||||||
8%
Class A (14,171 shares issued and outstanding, $148,796 liquidation
preference)
|
213
|
213
|
|||||
10%
Class B (2,270 and 2,570 shares issued and outstanding, $23,835 and
$26,985 liquidation preference)
|
23
|
26
|
|||||
10%
Class C (113,780 and 114,080 shares issued and outstanding, $1,137,800 and
$1,140,800 liquidation preference)
|
1,478
|
1,482
|
|||||
10%
Class F (150,000 shares issued and outstanding, $1,500,000 liquidation
preference)
|
1,500
|
1,500
|
|||||
8%
Class G (11,595 shares issued and outstanding, $115,950 liquidation
preference)
|
48
|
48
|
|||||
6%
Class H (2.0 shares issued and outstanding, $200,000 liquidation
preference)
|
-
|
-
|
|||||
Common
stock, no par value (9,650,690 and 9,642,374 shares issued and
outstanding)
|
37,771
|
37,688
|
|||||
Stock
subscriptions receivable
|
(70
|
)
|
(84
|
)
|
|||
Options
and warrants
|
46,158
|
46,038
|
|||||
Accumulated
other comprehensive income – unrealized gain on securities available for
sale
|
76
|
45
|
|||||
Accumulated
deficit
|
(83,578
|
)
|
(81,314
|
)
|
|||
Total
Stockholders' Equity
|
3,619
|
5,642
|
|||||
Noncontrolling
interest in subsidiaries
|
7,689
|
3,471
|
|||||
Total
Equity
|
11,308
|
9,113
|
|||||
TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY
|
$
|
114,607
|
$
|
26,043
|
THREE
MONTHS ENDED MARCH 31,
|
||||||||
2009
|
2008
|
|||||||
(unaudited)
|
(unaudited))
|
|||||||
OPERATING
ACTIVITIES
|
||||||||
Net
loss
|
$
|
(2,881
|
)
|
$
|
(846
|
)
|
||
Adjustments
to reconcile net loss attributable to Multiband Corporation and
subsidiaries to net cash provided from operating
activities:
|
||||||||
Depreciation
and amortization
|
3,285
|
738
|
||||||
Amortization
of imputed interest discount
|
35
|
10
|
||||||
Gain
on debt extinguishment
|
-
|
(30
|
)
|
|||||
Impairment
of goodwill, intangibles and property and equipment
|
-
|
58
|
||||||
Change
in allowance for doubtful accounts on accounts receivable
|
(205
|
)
|
(15
|
)
|
||||
Change
in reserve for stock subscriptions and interest receivable
|
14
|
(20
|
)
|
|||||
Expense
related to repricing of warrants
|
29
|
-
|
||||||
Stock
based compensation expense
|
91
|
212
|
||||||
Changes
in operating assets and liabilities:
|
||||||||
Accounts
receivable
|
(6,348
|
)
|
294
|
|||||
Inventories
|
(207
|
)
|
697
|
|||||
Prepaid
expenses and other
|
(1,076
|
)
|
(85
|
)
|
||||
Other
assets
|
(30
|
)
|
(21
|
)
|
||||
Accounts
payable and accrued liabilities
|
8,184
|
(1,711
|
)
|
|||||
Deferred
service obligations and revenue
|
(45
|
)
|
407
|
|||||
Net
cash flows from operating activities
|
846
|
(312
|
)
|
|||||
INVESTING
ACTIVITIES
|
||||||||
Purchases
of property and equipment
|
(873
|
)
|
(42
|
)
|
||||
Checks
issued in excess of bank balance with the purchase of 80% of outstanding
stock of DirecTECH operating entities
|
(369
|
)
|
-
|
|||||
Cash
acquired via purchase of NC (formerly Michigan Microtech, Inc.
(MMT))
|
-
|
4,044
|
||||||
Cash
collected on other receivables – related party acquired with the purchase
of NC (formerly Michigan Microtech, Inc. (MMT))
|
-
|
2,815
|
||||||
Purchase
of US Install
|
-
|
(101)
|
||||||
Purchases
of intangible assets
|
(26
|
)
|
-
|
|||||
Collections
on notes receivable
|
5
|
-
|
||||||
Net
cash flows from investing activities
|
(1,263
|
)
|
6,716
|
|||||
FINANCING
ACTIVITIES
|
||||||||
Payments
on long-term debt
|
(43
|
)
|
(10
|
)
|
||||
Payments
on capital lease obligations
|
(107
|
)
|
(63
|
)
|
||||
Net
repayment on line of credit
|
(4
|
)
|
-
|
|||||
Payment
on mandatory redeemable preferred stock
|
(100
|
)
|
(15
|
)
|
||||
Proceeds
from issuance of long-term debt
|
-
|
100
|
||||||
Redemption
of preferred stock
|
(6
|
)
|
(19
|
)
|
||||
Preferred
stock dividends
|
(29
|
)
|
(38
|
)
|
||||
Net
cash flows from financing activities
|
(289
|
)
|
(45
|
)
|
||||
INCREASE
(DECREASE) IN CASH AND CASH EQUIVALENTS
|
(706
|
)
|
6,359
|
|||||
CASH
AND CASH EQUIVALENTS - Beginning of Period
|
4,346
|
944
|
||||||
CASH
AND CASH EQUIVALENTS - END OF PERIOD
|
$
|
3,640
|
$
|
7,303
|
THREE
MONTHS ENDED MARCH 31,
|
||||||||
2009
|
2008
|
|||||||
Cash
paid for interest, net of amortization of OID and interest
discount
|
$
|
95
|
$
|
67
|
||||
Cash
paid for federal and state income taxes
|
530
|
-
|
||||||
Non-cash
investing and financing transactions:
|
||||||||
Reduction
of stock subscription receivable via cancellation of common
stock
|
-
|
61
|
||||||
Purchase
of 51% of ownership of MMT via issuance of notes payable and common stock,
net of discount for imputed interest
|
-
|
5,783
|
||||||
Purchase
of property and equipment via increase in capital lease
obligations
|
107
|
13
|
||||||
Purchase
of US Install via issuance of common stock
|
-
|
103
|
||||||
Acquisition
of securities available for sale upon expiration of contingent
rights
|
-
|
209
|
||||||
Intrinsic
value of preferred dividends
|
1
|
1
|
||||||
Conversion
of Class I preferred stock to common stock
|
-
|
3,745
|
||||||
Conversion
of Class G preferred stock to common stock
|
-
|
100
|
||||||
Conversion
of accrued dividends into common stock
|
83
|
86
|
||||||
Debt
and accrued interest paid with issuance of common stock
|
-
|
20
|
||||||
Increase
in short term debt via offset to accounts payable
|
159
|
-
|
||||||
Purchase
of 80% of outstanding stock of DirecTECH operating entities via issuance
of short and long term notes payable
|
39,900
|
-
|
||||||
Purchase
of 80% of outstanding stock of DirecTECH operating entities via issuance
of accrued contingent consideration
|
1,608
|
-
|
||||||
Reduction
of notes payable via reduction of related party receivable in connection
with the purchase of 80% of outstanding stock of DirecTECH operating
entities
|
5,844
|
-
|
||||||
Reduction
of notes payable with issuance notes payable in connection with
acquisition
|
300
|
-
|
||||||
Purchase
of 29% of outstanding stock of NC (formerly MMT) via issuance of short and
long term notes payable
|
1,660
|
-
|
||||||
Purchase
of 80% of outstanding stock of DirecTECH operating entities via payment to
escrow in 2008
|
500
|
-
|
1.
|
Initiate
and grow its Home Service Provider (HSP) business by eliminating
competitive HSP providers from certain of its core
markets.
|
2.
|
Reduction
of operating expenses by reducing training costs through the lowering of
technician turnover, managing professional fees and other general and
administrative expenses.
|
3.
|
Evaluation
and reduction of excess inventory including such factors as anticipated
usage, inventory turnover, inventory levels and product demand
levels.
|
4.
|
Obtain
additional debt financing.
|
5.
|
Expansion
of call center support via sales of call center services to both existing
and future system operators and to buyers of the Company’s video
subscribers.
|
6.
|
Solicit
additional equity investment in the Company by either issuing preferred or
common stock.
|
|
·
|
installation
and service of DirecTV video programming for residents of single family
homes
|
|
·
|
installation
of home security systems and internet
services
|
|
1.
|
from
voice, video and data communications products which are sold and
installed
|
|
2.
|
direct
billing to user charges to multiple dwelling units, through the activation
of, enhancement of, and residual fees on video programming services
provided to residents of multiple dwelling
units
|
|
||||||||||||||||
MBCorp
|
MDU
|
HSP
|
Total
|
|||||||||||||
Balance,
December 31, 2008
|
$ | - | $ | 50 | $ | 1,045 | $ | 1,095 | ||||||||
Acquisitions
|
- | 341 | 35,381 | 35,722 | ||||||||||||
Balance,
March 31, 2009
|
$ | - | $ | 391 | $ | 36,426 | $ | 36,817 |
March 31, 2009
|
December 31, 2008
|
|||||||||||||||
Gross
Carrying
|
Accumulated
|
Gross
Carrying
|
Accumulated
|
|||||||||||||
Amount
|
Amortization
|
Amount
|
Amortization
|
|||||||||||||
Intangible
assets subject to amortization
|
||||||||||||||||
Right
of entry contracts
|
$ | 3,061 | $ | 785 | $ | 801 | $ | 526 | ||||||||
Contracts
with DirecTV
|
36,902 | 10,504 | 11,502 | 8,060 | ||||||||||||
Customer
contracts
|
102 | 102 | 102 | 86 | ||||||||||||
Total
|
40,065 | 11,391 | 12,405 | 8,672 | ||||||||||||
Impairment
of intangibles
|
- | - | - | 65 | ||||||||||||
Total
including impairment
|
$ | 40,065 | $ | 11,391 | $ | 12,405 | $ | 8,737 |
Three
months ended
|
||||||||
March 31, 2009
|
March 31, 2008
|
|||||||
Risk-free
interest rate
|
1.43%
|
2.99%
|
||||||
Expected
life of options granted
|
5.0
Years
|
6.5
Years
|
||||||
Expected
volatility range
|
95%
|
94%
|
||||||
Expected
dividend yield
|
0%
|
0%
|
Cash
paid
|
$ | 500 | ||
Short-term
debt
|
500 | |||
Promissory
note
|
39,400 | |||
Contingent
consideration
|
1,608 | |||
Total
consideration
|
42,008 | |||
Less
consideration for 29% of NC (recorded separately as an equity
transaction)
|
(1,660 | ) | ||
Consideration
for 80% of outstanding stock of EC, NE, SW, MBMDU, DC, and
Security
|
$ | 40,348 | ||
Assets
|
$ | 27,193 | ||
Intangible
assets
|
27,839 | |||
Goodwill
|
35,722 | |||
Liabilities
|
(43,838 | ) | ||
Noncontrolling
interest
|
(6,568 | ) | ||
$ | 40,348 |
2008
|
||||||||
Consolidated
as
reported
|
2008
Pro
Forma
|
|||||||
Three
months ended March 31, 2008
|
||||||||
Revenues
|
$
|
5,714
|
$
|
58,907
|
||||
Loss
from operations
|
(757
|
)
|
(6,395
|
)
|
||||
Net
loss attributable to Multiband Corp and subsidiaries
|
(864
|
)
|
(4,538
|
)
|
||||
Preferred
stock dividends
|
3,881
|
3,881
|
||||||
Loss
attributable to common shareholders
|
$
|
(4,745
|
)
|
$
|
(8,418
|
)
|
||
Loss
attributable to common shareholders per common share – basic and
diluted
|
$
|
(0.56
|
)
|
$
|
(0.99
|
)
|
||
Weighted
average shares outstanding – basic and diluted
|
8,498
|
8,498
|
March 31,
2009
|
December 31,
2008
|
|||||||
Equity
of noncontrolling interest (previously minority interest) in
subsidiaries:
|
||||||||
Noncontrolling
interest in subsidiaries, beginning balance
|
$ | 3,471 | $ | - | ||||
Purchase
of 51% of NC
|
- | 2,819 | ||||||
Purchase
of 80% of NE, SC, EC, MBMDU, DC & Security
|
6,568 | - | ||||||
Purchase
of NC from noncontrolling interest
|
(2,054 | ) | - | |||||
Net
income(loss) attributable to the noncontrolling interest in
subsidiaries
|
(296 | ) | 652 | |||||
Noncontrolling
interest (previously minority interest) in subsidiaries, ending
balance
|
$ | 7,689 | $ | 3,471 |
|
March 31,
2009
|
December 31,
2008
|
||||||
Inventories
consisted of the following:
|
||||||||
DirecTV
– serialized
|
$ | 5,476 | $ | 813 | ||||
DirecTV
– nonserialized
|
7,725 | 670 | ||||||
Other
|
3,040 | 420 | ||||||
Total
|
$ | 16,241 | $ | 1,903 |
Cost
|
Unrealized
Gain(Loss)
|
Fair
Value at
Period End
|
||||||||||
March
31, 2009
|
$ | - | $ | 76 | $ | 76 | ||||||
December
31, 2008
|
$ | - | $ | 46 | $ | 46 |
March 31,
2009
|
December 31,
2008
|
|||||||
Payroll
and related taxes
|
$ | 8,028 | $ | 1,354 | ||||
Accrued
legal settlements and contingencies
|
5,014 | 960 | ||||||
Accrued
preferred stock dividends
|
583 | 622 | ||||||
Accrued
income taxes
|
37 | 499 | ||||||
Other
|
8,887 | 1,000 | ||||||
Total
Accrued Liabilities
|
$ | 22,549 | $ | 4,435 |
MBCorp
|
MDU
|
HSP
|
Total
|
|||||||||||||
Three
months ended March 31, 2009:
|
||||||||||||||||
Revenues
|
$ | - | $ | 5,325 | $ | 56,833 | $ | 62,158 | ||||||||
Loss
from operations
|
(977 | ) | (257 | ) | (949 | ) | (2,183 | ) | ||||||||
Identifiable
assets
|
4,122 | 14,362 | 96,123 | 114,607 | ||||||||||||
Depreciation
and amortization
|
83 | 1,033 | 2,169 | 3,285 | ||||||||||||
Capital
expenditures
|
81 | 792 | - | 873 |
MBCorp
|
MDU
|
HSP
|
Total
|
|||||||||||||
Three
months ended March 31, 2008:
|
||||||||||||||||
Revenues
|
$ | - | $ | 3,734 | $ | 1,980 | $ | 5,714 | ||||||||
Income
(loss) from operations
|
(828 | ) | 11 | 60 | (757 | ) | ||||||||||
Identifiable
assets
|
4,519 | 7,246 | 10,271 | 22,036 | ||||||||||||
Depreciation
and amortization
|
137 | 598 | 3 | 738 | ||||||||||||
Capital
expenditures
|
21 | 21 | - | 42 |
|
1.
|
The
Operating entities are accretive to our business model as they have
the:
|
|
a.
|
Same
line of business (DirecTV)
|
|
b.
|
Ability
to leverage systems and management
|
|
c.
|
Ability
to leverage core competencies in support center, software, and
engineering
|
|
d.
|
Ability
to expand geographic presence with ample technician
capacity
|
|
e.
|
Size,
scale, and scope of combined business enterprise more in line with growth
necessary to support public entity
|
|
f.
|
Accretive
positive cash flow and capacity for net
income.
|
|
2.
|
Also,
new business opportunities may be integrated into an existing installation
process which touches over 5,000 homes per day. Multiband Enterprise
Manager software application is capable of modification to support
“bundled billing” attribute resulting from new sales
opportunity.
|
|
3.
|
Furthermore,
the transaction produced a strong barrier to entry to other potential
competitors which creates potential for longevity and
exclusivity.
|
|
4.
|
Other
reasons for the acquisition
included:
|
a.
|
Strong
financial performance by DirecTV which provides security and continued
growth potential for Multiband
|
b.
|
Strong
DIRECTV balance sheet and liquidity which provides comfort for continued,
successful operations.
|
c.
|
Multiband’s
public company reporting status provides an excellent platform to support
and motivate new human resource
asset.
|
d.
|
Multiband’s
management is, we believe, capable of “rightsizing” operating expense
structure of DTHC operating entities to provide increased cash flow and
earning potential over a short period of time;
and
|
e.
|
Opportunity
for significant shareholder appreciation when comparing industry valuation
metrics to pre-existing Multiband market
values.
|
DOLLAR AMOUNTS AS A
PERCENTAGE
OF REVENUES
|
||||||||
THREE
MONTHS ENDED
|
||||||||
March
31, 2009
|
March
31, 2008
|
|||||||
(unaudited)
|
(unaudited)
|
|||||||
REVENUES
|
100 | % | 100 | % | ||||
COST
OF PRODUCTS & SERVICES (Exclusive of depreciation and amortization
shown below)
|
76.1 | % | 66.9 | % | ||||
|
||||||||
SELLING,
GENERAL & ADMINISTRATIVE
|
22.1 | % | 32.5 | % | ||||
DEPRECIATION
& AMORTIZATION
|
5.3 | % | 12.9 | % | ||||
IMPAIRMENT
OF ASSETS
|
- | 1.0 | % | |||||
|
||||||||
LOSS
FROM OPERATIONS
|
-3.5 | % | -13.3 | % | ||||
INTEREST
EXPENSE & OTHER, NET
|
-1.0 | % | -1.0 | % | ||||
LOSS
BEFORE INCOME TAXES AND NONCONTROLLING INTEREST IN
SUBSIDIARIES
|
-4.5 | % | -14.3 | % | ||||
PROVISION
FOR INCOME TAXES
|
.2 | % | .5 | % | ||||
NET
LOSS
|
-4.7 | % | -14.8 | % | ||||
LESS:
NET INCOME (LOSS) ATTRIBUTABLE TO THE NONCONTROLLING INTEREST IN
SUBSIDIARIES
|
-.5 | % | .3 | % | ||||
NET
LOSS ATTRIBUTABLE TO THE MULTIBAND CORPORATION AND
SUBSIDIARIES
|
-4.2 | % | -15.1 | % |
1.
|
Initiate
and grow its Home Service Provider (HSP) business by eliminating
competitive HSP providers from certain of its core
markets
|
2.
|
Reduction of operating expenses
by reducing training costs through the lowering of technician turnover,
managing professional fees and other general and administrative
expenses.
|
3.
|
Evaluation
and reduction of excess inventory including such factors as anticipated
usage, inventory turnover, inventory levels and product demand
levels.
|
4.
|
Obtain additional debt
financing.
|
5.
|
Expansion of call center support
via sales of call center services to both existing and future system
operators and to buyers of the Company’s video
subscribers.
|
6.
|
Solicit additional equity
investment in the Company by either issuing preferred or common
stock.
|
|
·
|
installation
and service of DirecTV video programming for residents of single family
homes
|
|
·
|
installation
of home security systems and internet
services
|
|
·
|
from
voice, video and data communications products which are sold and
installed
|
|
·
|
direct
billing to user charges to multiple dwelling units, through the activation
of, enhancement of, and residual fees on video programming services
provided to residents of multiple dwelling
units
|
(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: May 20, 2009 |
By:
|
|
|
|
/s/
James L. Mandel
|
Chief
Executive Officer
|
||
Date: May 20, 2009 |
By:
|
|
|
|
/s/
Steven M. Bell
|
Chief
Financial Officer
|
||
(Principal
Financial and Accounting
Officer)
|