PNO Path 1 Netwk Tech

SAN DIEGO, April 20 /PRNewswire-FirstCall/ -- Path 1 Network Technologies Inc. (AMEX:PNO) announced today that the Company is actively engaged in securing additional bridge financing and will submit a plan to American Stock Exchange ("AMEX") regarding its fund raising activities by April 26. On April 14, 2006, the Company received notice from the AMEX that it is not in compliance with one of the AMEX's continued listing standards, Section 1003(a)(iv) of the AMEX Company Guide, in that the Company has sustained losses which are so substantial in relation to its overall operations or its existing financial resources, or the Company's financial condition has become so impaired that it appears questionable, in the opinion of AMEX, as to whether the Company will be able to continue operations and/or meet its obligations as they mature. In accordance with Section 1009 of the AMEX Company Guide and pursuant to the notice the Company received from AMEX, the Company has until April 26, 2006 to submit a plan advising AMEX of action it has taken, or will take, that would bring the Company into compliance with Section 1003(a)(iv) of the AMEX Company Guide by June 30, 2006. About Path 1 Network Technologies Inc. Path 1 Network Technologies Inc. is the pioneer and leading provider of video transport products that enable the conversion and distribution of real-time, broadcast-quality video over Internet Protocol (IP) through public and private networks. From the delivery of live MPEG-2, MPEG-4, and VC-1 standard definition (SD) and high definition (HD) broadcasts to video on demand (VOD), Path 1's video infrastructure platforms allow broadcasters, cable, telco, satellite and mobile operators to transmit high-quality point-to-point, multipoint and multiplexed video across town or around the world. To find out more about Path 1 Network Technologies Inc. (AMEX:PNO) visit our website at http://www.path1.com/ or call 877/ONE-PATH (663-7284). SAFE HARBOR STATEMENT: This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future", "plan" or "planned," "will" or "should," "expected," "intends," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward- looking statements, including the risks that we will require future financing, that our products might not achieve customer or market acceptance or that they might not perform as expected, that customer trials might not lead to future sales, that our sales might fluctuate between reporting periods and other risks identified in our annual report on Form 10-K and other filings with the SEC. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof and Path 1 undertakes no obligation to update such statements. Media Contact: Investor Contact: Alice Borda Amy Cozamanis / Lasse Glassen Sterling Communications Financial Relations Board Office: 408-395-5500 Office: 310-854-8314 DATASOURCE: Path 1 Network Technologies Inc. CONTACT: Media, Alice Borda of Sterling Communications, +1-408-395-5500, , for Path 1 Network Technologies Inc.; or Investors, Amy Cozamanis, , or Lasse Glassen, , both of Financial Relations Board, +1-310-854-8314, for Path 1 Network Technologies Inc. Web site: http://www.path1.com/

Copyright