BNET Industries

Market Cap:$29.0M
Last Fiscal Year Sales:$6.2M
  • Public
  • US
Dow Jones Description

Towerstream Corporation ("Towerstream", "we", "us", "our" or the "Company") provides fixed wireless broadband services to commercial customers based on a monthly recurring revenue model. We provide customers high speed Internet access over a fixed wireless network transmitting over both regulated and unregulated radio spectrum. Our service supports bandwidth on demand, wireless redundancy, virtual private networks ("VPNs"), disaster recovery, bundled data and video services. We provide service to approximately 1,400 business customers in New York City, Boston, Chicago, Los Angeles, San Francisco, Seattle, Miami, Dallas-Fort Worth, Providence and Newport, Rhode Island.

President, Chief Executive Officer, Treasurer, Secretary and DirectorPaul Pedersen
Number of Employees 50
Contact Information

55 Hammarlund Way

Middletown, Rhode Island 02842

www.towerstream...

(401) 848-5848

NAICS Code Wireless Telecommunications Carriers (except Satellite): 5172

Recent Events

  • Towerstream Reports Strong Customer Installations in Q1

    5/13/09 - Financial Announcement - View Story

  • Towerstream to Report First Quarter 2009 Financial Results on May 6, 2009

    4/20/09 - Financial Announcement - View Story

  • Towerstream Announces Record Revenues for the Fourth Quarter 2008 with Sequential...

    3/18/09 - Financial Announcement - View Story

  • Towerstream to Report Fourth Quarter 2008 Financial Results on March 18, 2009

    2/23/09 - Financial Announcement - View Story

News & Analysis

towerstream - All News and Analysis

  • Towerstream Trading Below Cash

    Seeking Alpha - 2008-12-01

    Asif Suria submits: The 12% surge in the Dow over three trading sessions was certainly welcome but has hardly alleviated the level of anxiety felt by most investors as it could easily turn out to be a bear market rally. It is interesting to see from the adjacent table...

    Tags: Telecom, Asif Suria, Towerstream

  • TowerStream Adds Prominent Clients, Revenue Jumps 53%

    Seeking Alpha - 2008-08-12

    Asif Suria submits: Commercial wireless internet service provider TowerStream Corp TWER, which was featured in the July 2008 edition of our investment newsletter, reported second quarter results after market close yesterday with revenue increasing a better than expected 53% to $2.49 million when compared to the second quarter of...

    Tags: Towerstream, Telecom

  • TowerStream Corporation Q4 2007 Earnings Call Transcript

    Seeking Alpha - 2008-03-19

    Question-and-Answer SessionOperator Operator Instructions. Your first question comes from the line of David Lambert from Canaccord Adams. Please proceed. David Lambert – Cannaccord Adams Thank you. HI, Jeff. Just on churn can you break it down I assuming that something – you calculate your churn as a percentage of...

    Tags: Towerstream

  • Towerstream Applauds FCC Spectrum 3650 MHz Band Decision

    - 2007-06-08

    To: TECHNOLOGY EDITORSContact: Media Contact, Kristin Conforti of Dukas Public Relations, +1-516-320-6839, Kristin@dukaspr.com; or Investor Contact, Terry McGovern of Vision Advisors, +1-415-902-3001, mcgovern@visionadvisors.net, both for Towerstream MIDDLETOWN, R.I., June 8 /PRNewswire-FirstCall/ -- (Nasdaq: TWER) On Thursday, June 7, the Federal Communications Commission FCC announced its decision to uphold its 2005...

    Tags: FCC, Government, spectrum, Towerstream, WiMAX, WIRELESS

  • Exploring the Future Trends of TowerStream Corporation.

    - 2007-06-04

    M2 PRESSWIRE-4 June 2007-Growth Stock News: Exploring the Future Trends of TowerStream CorporationC1994-2007 M2 COMMUNICATIONS LTD RDATE:04062007 Using WiMax technology and antennas perched on buildings such as the Empire State Building and the MetLife Building, TowerStream provides wireless broadband network services...

    Tags: Nasdaq Stock Market Inc., TELECOMMUNICATIONS, Towerstream, WIRELESS

Decision Makers

Name (plus bio) Position
Paul Pedersen President, Chief Executive Officer, Treasurer, Secretary and Director
Philip Urso Chief Executive Officer
Bruce Grinnell Chief Operating Officer
Edward Grinnell Bruce Chief Operations Officer
George E Kilguss Chief Financial Officer
Joseph P Hernon Chief Financial Officer
Maria Perry Interim Chief Financial Officer
Mel Yarbrough Chief Revenue Officer
Arthur G Giftakis Vice President of Engineering and Operations
Philip Mongada Vice President of Human Resources
Jeff Thompson Co-Founder
Howard L. Haronian Director
Paul Koehler Director

Board of Directors

Name (plus bio) Position
Bill Bush Audit Committee Chairman
Organization Position Status
Towerstream Corp President, Chief Executive Officer, Treasurer, Secretary and Director Current
Organization Position Status
Towerstream Corp Chief Executive Officer Current
Towerstream Corp Founder, Chairman Current
Citadel Broadcasting Company President Former
Efortress Founder Former
McF Communications, Inc Founder Former
Northwestern University B.A. Former
Organization Position Status
Towerstream Corp Chief Operating Officer Current
VBS Inc., Material Handling Equipment Chief Operating Officer & Vice President of Operations Former
Krannert School of Management at Purdue University Master of Science In Industrial Administration Former
Organization Position Status
Towerstream Corp Chief Operations Officer Current

"George E. Kilguss III leads the Company's Accounting, Finance, Purchasing, Financial Planning and Analysis functions. He has significant financial management, operations and development experience in publicly traded and privately-held technology companies as well as the investment banking sector. Prior to joining Internap, Mr. Kilguss served as the Chief Financial Officer of Towerstream Corporation, which delivers high speed wireless Internet access to businesses in major metropolitan markets using WiMAX microwave access. While at Towerstream, he orchestrated the company’s initial public offering, was integral to the development and execution of the strategic plan, and raised the necessary capital to enable the company to enter eight new markets with an enhanced product line and a new distribution model. Before Towerstream, Mr. Kilguss was the Chief Financial Officer of Stratos Global Corporation in Toronto, Ontario, providing remote communications products including mobile and fixed satellite and microwave services to more than 20,000 customers worldwide. Mr. Kilguss also has had hands-on experience with capital markets and a wide variety of merger and acquisition activities across industries. As a partner at Riparian Partners and a Vice President at Fleet Financial Group’s Investment Bank, he was active in all aspects of investment banking including valuations, mergers and acquisitions, private placements, and debt structuring. Mr. Kilguss holds an MBA in finance and accounting from the University of Chicago’s Graduate School of Business in Chicago, Illinois, and a bachelor’s degree in Economics and Finance from the University of Hartford in West Hartford, Connecticut. "

Organization Position Status
Internap Network Services Corporation Chief Financial Officer Current
Towerstream Corp Chief Financial Officer Current
Stratos Global Corporation Chief Financial Officer Former
Stratos Global Corporation Executive Vice President Former
Bank of Boston Former
Fleet Co Former
Stratos Global Corporation Member of the Board of Directors Former
University of Chicago MBA Former
University of Hartford BS In Economics and Finance Former

Joseph joined the Company as Chief Financial Officer (CFO) in May 2008. Prior to joining Towerstream, Joseph served as CFO of Aqua Bounty Technologies, Inc., a public biotechnology company where he was part of the management team which completed an initial public offering in London in 2006. Previously, he was CFO of Alseres Pharmaceuticals, (formerly Boston Life Sciences Inc.), a NASDAQ listed, biopharmaceutical company where he was involved in a number of public and private financings. Earlier in his career, he spent almost 10 years with PricewaterhouseCoopers, L.L.P., an international auditing, tax, and consulting firm. Joseph is a certified public accountant and holds an M.S. degree from Bentley College and a B.S. degree from the University of Lowell-Massachusetts.

Organization Position Status
Towerstream Corp Chief Financial Officer Current
Alseres Pharmaceuticals, Inc. Cfo Former
Aqua Bounty Technologies, Inc. Chief Financial Officer Former
Bentley College M.S. Degree Former
University of Lowell B.S. In Business Administration Former
Organization Position Status
Towerstream Corp Interim Chief Financial Officer Current
Maria Perry Current
The Stanley Works Director of Business Analysis Former
Towerstream Corp Controller Former
Deloitte & Touche LLP Auditor Former
University of Delaware B.S. In Accounting Former
The Healing Company Former

As the Chief Revenue Officer for Towerstream, Yarbrough is responsible for the strategic revenue growth and business development initiatives for Towerstream. Subsequently, Yarbrough is charged with the leadership of the Sales, Marketing, and Installations departments. Mr. Yarbrough comes to Towerstream from Hoovers (D Dun and Bradstreet), where he served as VP of Business Development and VP of Subscription Sales. Prior to joining D&B, Yarbrough spent nearly a decade in several executive sales and marketing positions, including roles at StarCite and Handango. During this time, he spearheaded efforts to achieve new sales and revenue growth as well as foster business development activities. Yarbrough holds a BA in Economics and Business from Southern Methodist University and a Juris Doctorate from Vanderbilt University School of Law.

Organization Position Status
Towerstream Corp Chief Revenue Officer Current
Towerstream Corp Vice President of Sales Former
Handango Former
Vanderbilt University Law School Juris Doctorate Former
Southern Methodist University BA In Economics and Business Former

Mr. Giftakis currently serves as the Vice President of Engineering and Operations at Towerstream. Formerly Mr. Giftakis was Director of Engineering at Sockeye Networks, a BGP optimization company that was acquired by Internap. Prior to joining Sockeye, he was a Director at Navisite and Digital Broadband Communications. Mr. Giftakis spent 10 years with Bell Atlantic and has spoken in several forums on the future of telecommunications with fixed wireless. He has over 15 years of experience with advanced solutions in telecommunications. Mr. Giftakis started his career with New England Telephone.

Organization Position Status
Towerstream Corp Vice President of Engineering and Operations Current
Towerstream Corp Manager Former
NaviSite, Inc. Director Former
Organization Position Status
Towerstream Corp Vice President of Human Resources Current
St. Michael's College Masters Degree In Administration and Management Former
Organization Position Status
Towerstream Corp Co-Founder Current
Towerstream Corp President, Chief Executive Officer and Director Current
Ibreakfast Current
Towerstream Corp Board of Directors Current
Towerstream Corp Chief Operating Officer Former
Edgenet Vice President of Operations Former
Edgenet Founder Former
Towerstream Corp Operations Leader Former
University of Massachusetts Amherst BS In Electrical Engineering Former

Mr. Bush has served as a director since January 2007. Mr. Bush has been an executive officer of Handheld Entertainment, Inc. (NasdaqCM: ZVUE) since January 2006 and became its chief financial officer on June 26, 2006. Mr. Bush has over 15 years of experience in accounting, financial support and business development. From 2002 to 2005, Mr. Bush was the chief financial officer and secretary for International Microcomputer Software, Inc. (OTCBB: IMSI.OB), a developer and distributor of precision design software, content and on-line services. Prior to that he was a director of business development and corporate controller for Buzzsaw.com, Inc. Mr. Bush was one of the founding members of Buzzsaw.com, Inc., a privately held company spun off from Autodesk, Inc. in 1999, focusing on online collaboration, printing and procurement applications. From 1997 to 1999, Mr. Bush worked as corporate controller at Autodesk, Inc. (NasdaqGM: ADSK), the fourth largest software applications company in the world. Prior to that, Mr. Bush worked for seven years in public accounting, first with Ernst & Young, and later with Price Waterhouse in Munich, Germany. Mr. Bush holds a B.S. in Business Administration from U.C. Berkeley and is a Certified Public Accountant.

Organization Position Status
Towerstream Corp Audit Committee Chairman Current
Findex Com, Inc. Board of Directors Current
Towerstream Corp Board of Directors Current
ZVUE Corporation Chief Financial Officer Former
Broadcaster, Inc. Chief Financial Officer Former
Broadcaster, Inc. Developer Former
Broadcaster, Inc. Secretary Former
Organization Position Status
Yale-New Haven Hospital Director of the Cardiac Catheterization Program Current
Yale University School of Medicine Faculty Current
Towerstream Corp Director Current
Yale University School of Medicine Board of Directors Current
Yale University School of Medicine Member Current

Paul Koehler has over twenty years of experience in business development and marketing in the energy industry. Prior to joining Pacific Ethanol in 2005, he served as Director of Business Development for PPM Energy, Inc., leading their efforts to develop and acquire several wind power projects. Paul was also a co-founder of ReEnergy, one of the companies acquired by Pacific Ethanol. During the 1990s Paul worked for Portland General Electric and Enron in marketing and origination of long term transactions, risk management, and energy trading. Paul has a BA from the Honors College at the University of Oregon.

Organization Position Status
Pacific Ethanol, Inc. Vice President of Business Development Current
Towerstream Corp Director Current
Reenergy LLC President Former
Kinergy Corporation President Former
Reenergy LLC Co-Founder Former
Kinergy Corporation Co-Founder Former
PPM Energy Inc Director of Business Development Former
University of Oregon Ba from the Honors College Former

Executive News

  • Towerstream Continues Extension of Chicago Network Coverage to Include Oakbrook

    DMN Newswire - 6/16/09 - View Story

  • Towerstream Continues Extension of Chicago Network Coverage to

    Market Wire via MSN Money - 6/16/09 - View Story

  • Small Firms Offer Recession Specials

    The Wall Street Journal Interactive Edition - 6/09/09 - View Story

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     TWER $0.94 +0.01 (1.08% )
Average Volume 118,671
Shares Outstanding 34.59M
Market Cap 32.5M
Year High 1.84
Year Low 0.532
Earnings Per Share N/A
P/E Ratio -
Dividend N/A
Yield N/A
Glass Door

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