Separately, the Company announced that Ron Eilath
has resigned as the Company's Chief Financial Officer.
President and CEO Greg Walling and CFO Ron Eilath
will review the results and discuss the Company's outlook.
, Chief Financial Officer of Cabletel, stated, " Negotiations with the holder of the note and our senior lenders have been positive and, although no assurances can be given that a successful restructuring will be agreed upon, we are encouraged by the progress we have made and are hopeful that a restructuring of the note will be completed shortly.
, Chief Financial Officer of Cabletel, noted, "As anticipated, during the quarter ended March 31, 2003, the Company was positively impacted with a realized foreign exchange gain of approximately $300,000 as a result of a strengthening in the Canadian dollar vs.
, Chief Financial Officer of Cabletel, noted, "During the year ended 2002, the Company was negatively impacted with a foreign exchange loss of $260,094.