Welcome to
MachTen
MachTen is the publicly traded holding company for Michigan Broadband, a provider of communications services including high speed internet, voice, video, mobile, home automation and managed hosting. Michigan Broadband’s subsidiaries include Upper Peninsula Telephone Company, Michigan Central Broadband Company, and Alpha Enterprises Ltd.
News
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MachTen, Inc. Reports Audited 2023 & First Half 2024 Financial Results
Traverse City, Michigan, July 31, 2024 – MachTen, Inc. (“MACT”) (OTC: MACT) today reported audited financial results for the year ended December 31, 2023, along with an interim operational and financial update for the first half of 2024.
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Michigan Broadband Launches Fiber-Optic Network in St. Ignace
Michigan Broadband has started activating new customers on the Company’s state-of-the-art fiber network that passes more than 2,000 residential and business locations throughout the City of St. Ignace. Michigan Broadband began construction of this 50-mile project in early January.
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MachTen, Inc. Discontinues Registration of Common Stock
Traverse City, Michigan, February 7, 2024 – MachTen, Inc. (“MACT” or the “Company”) (OTC: MACT) today announced that it has filed Form 15 with the Securities & Exchange Commission to voluntarily deregister its common stock.
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Results for the Third Quarter 2023
“It’s an exciting time for MachTen! We completed the spin-off from LICT on August 31, and appreciate the unwavering efforts of our teams in Carney, Traverse City and Rye. While our 3rd quarter earnings reflect a strong foundation, we have very significant opportunities to improve operating efficiencies as a standalone public company with a focused management team. We are well positioned to benefit from industry trends, and have a clear plan for meaningful growth in the years ahead,” commented Dan Miller, Chief Executive Officer.
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MachTen, Inc. Reports Results for the Second Quarter 2023
Regulated revenue declined to $3.04 million in the 2nd quarter of 2023 from $3.07 million in the same period last year, primarily attributable to the elimination of a Michigan Universal Service Fund (USF) program. As a result of this program’s elimination in mid-2022, intrastate access and USF revenue declined to $18,000 in the 2nd quarter, compared to $91,000 in the prior year quarter. Intrastate USF revenue totaled $292,000 for the full year 2022, down from $374,000 in 2021.
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MachTen, Inc. to Participate in Enhanced-ACAM & RUS ReConnect Programs
Upper Peninsula Telephone Company (“UPTC”) and Michigan Central Broadband (“MCBC”), our wholly-owned Incumbent Local Exchange Carriers (“ILECs”), will collectively receive approximately $9.7 million of E-ACAM support annually for 15 years. E-ACAM will run from January 2024 through 2038, and replace the current ACAM program scheduled to expire in 2028. The current program has been providing approximately $8.7 million of annual support.