Exhibit
99.1
Contact:
D.
Brian
Karr, Chief Financial Officer
Cardinal
Communications, Inc.
303-285-5353
FOR
IMMEDIATE RELEASE: NEWS
August
17, 2006 OTCBB: CDNC
Get-A-Phone
Petitions for Ch. 11 Bankruptcy Protection
BROOMFIELD,
Colo., August 17, 2006- Cardinal Communications, Inc. (OTC
Bulletin
Board: CDNC), a diversified provider of bundled digital communications
and
video-on-demand services, and a specialized developer of residential and
commercial real estate, today announced that its wholly-owned subsidiary,
Connect Paging, Inc., dba Get-A-Phone, petitioned for Chapter 11 bankruptcy
protection on Friday, August 11, 2006.
Get-A-Phone
has advised Cardinal, who owns 100% of Get-A-Phone's stock, that Get-A-Phone
has
had difficulty making payments related to billing adjustments by its
telecommunications vendor. Get-A-Phone also advised Cardinal that it is
attempting to work with the vendor to negotiate a solution which works for
both
companies, but that it felt compelled to petition for reorganization under
Ch 11
bankruptcy in order to maintain operations.
Ed
Garneau, Chief Executive Officer of Cardinal, commented "We are disappointed
that Get-A-Phone was unable to solve their billing dispute and address their
financial shortfall outside of bankruptcy. Prior to the bankruptcy filing,
we
explored various options in respect to Cardinal's investment in Get-A-Phone.
It
is unfortunate that our efforts were unsuccessful. We will take all steps
necessary to protect and preserve our investment in Get-A-Phone during the
bankruptcy process.”
About
Cardinal Communications, Inc.
Cardinal
Communications operates a suite of vertically integrated businesses that provide
both bundled digital communications services (voice, video, video-on-demand
and
high-speed Internet) and high-quality real estate to the residential
marketplace. The Company’s expertise in communication infrastructure and turnkey
residential development allows Cardinal to capitalize on growing demand among
homebuyers for modern residences that are pre-equipped with a range of digital
communications options. The Company is also partnering with other developers
that seek Cardinal’s expertise in designing, building and operating residential
communication networks that will deliver long-term revenue opportunities. Based
in Broomfield, Colo., publicly traded Cardinal trades on the Bulletin Board
under the symbol “CDNC.”
For
more
information, visit the Company’s corporate website at www.cardinalcomms.com
SAFE
HARBOR STATEMENT: Some information in this release is forward looking. These
forward-looking statements may be affected by the risks and uncertainties in
Cardinal Communications and its subsidiaries and divisions. This information
is
qualified in its entirety by cautionary statements and risk factors disclosure
contained in certain of Cardinal Communications' Securities and Exchange
Commission filings. Cardinal Communications wishes to caution readers that
certain important factors may have affected and could in the future affect
its
actual results and could cause actual results for subsequent periods to differ
materially from those expressed in any forward-looking statement made by or
on
behalf of Cardinal Communications. There are many factors that will determine
whether Cardinal Communications will be successful in its endeavors, including,
without limitation, access to adequate capital and consumer acceptance of its
telecommunications service offerings. Cardinal Communications undertakes no
obligation to update forward-looking statements to reflect events or
circumstances after the date hereof.