GlobalSCAPE Amends Bylaws
Sets Date To Remove Transfer Restriction On Common Stock No Later Than January 1, 2002
SAN ANTONIO, TEXAS - GlobalSCAPE, Inc. today announced that its Board of Directors has amended its Bylaws to remove the restriction on the transfer of its common stock no later than January 1, 2002. GlobalSCAPE is an Internet software subsidiary of American TeleSource International, Inc. ( AMEX: AI).
Prior to amendment, the Bylaws provided that GlobalSCAPE's common stock could not be traded except under certain defined conditions. The restriction was to be lifted 180 days after the Company (i) closed an initial public offering of its stock, and (ii) listed and registered the stock on a national securities exchange or caused the stock to be quoted on the automatic quotation system of a national securities association. The Bylaws now provide that the common stock may not be traded until the earlier of the occurrence of the above mentioned events, or January 1, 2002.
To review the conditions under which GlobalSCAPE's stock may be traded while the restriction is in place, please refer to the Company's amended Information Statement filed on Form 10 with the SEC on September 12, 2000.
The full text of the Bylaws as amended will be filed on October 10, 2000, with the SEC as an exhibit to the Company's Current Report on Form 8-K.
GlobalSCAPE, Inc. (www.globalscape.com), is a leader in the development, marketing, distribution and support of award-winning Internet-based software in a variety of categories including client-server applications, Internet utilities and Web site development tools targeting both business and consumer markets.
American TeleSource International, Inc. (www.atsi.net) is an emerging international carrier serving the rapidly expanding niche markets in and between Latin America and the United States. The Company's borderless strategy includes the deployment of a "next generation" network for more efficient and cost effective service offerings of domestic and international voice and data. ATSI has clear advantages over the competition through its corporate framework consisting of unique licenses, interconnection and service agreements, network footprint, and extensive retail distribution.