|
Quotes & Info
|
| ADTN > SEC Filings for ADTN > Form 8-K on 28-Oct-2009 | All Recent SEC Filings |
28-Oct-2009
Other Events
During Adtran's presentation at the SUPERCOMM 2009 trade show in Chicago, IL, on October 21, 2009, there was a discussion of the anticipated impact of both the Broadband Initiatives and the Broadband Technology Opportunities programs created under the American Recovery and Reimbursement Act, and in particular the pace of funding under those programs. The Company is filing this 8-K to clarify and amplify that discussion. Under both programs, awards for the commitment of funds to identified projects must be made no later than September 30, 2010, although currently there are suggestions this deadline may move to a later date. While completion times of projects receiving commitments for funding may vary depending on the complexity of the project, under current guidelines projects must be substantially completed within two years from the date of the award and projects must be fully completed no later than three years from the date of the award. Although the process remains fluid and may well change, it is our current understanding that funding will occur in accordance with the terms of the award, including times for payment.
|
|