WiFi Wireless Acquires 40% of ViMax17 February 2005
WiFi Wireless, Inc. (OTC: WFIW) announced today that they have been in negotiations with ViMax to acquire 40% interest in a stock exchange.
ViMax CEO, Donald Steinberg, who was the visionary principal behind One World Communications and Vivanet, stated that "after reviewing and studying WiFi Wireless' technology and ability to deliver the world's first seamless solution to a last mile and long distance communication infrastructure combined with ViMax's world wide distributor base of over 30,000 reps it was clear to me after my 10 years of international telecom experience that this would be an explosive product for my distributors to deliver. ViMax is extremely excited about the growth opportunities available due to this partnership. ViMax is proud to announce that the transaction has been finalized and completed."
About WiFi Wireless, Inc.
WiFi Wireless Incorporated (OTC: WFIW). WiFi Wireless provides an expanded network technology to the traditional wi-fi (802.11) system. Currently, wi-fi (802.11) systems are confined to "Hot Spot" locations within a limited radius. WiFi Wireless focuses on "Space-Time" technology applications by using current UHF frequencies that enables WiFi Wireless' hardware to provide 10 miles of service from the POP Point Of Presence, rather than the conventional wi-fi (802.11) retail space application. WiFi Wireless utilizes a base station antenna with a capacity that will allow up to 25,000 simultaneous users without degradation in performance. Business franchises can now be part of the WiFi Wireless network by providing a POP site in one central location, instead of multiple, costly, small networks at a fraction of the price of current T-Span charges affiliated with standard "Hot Spot" networks.
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Safe Harbor
This press release and oral statements made from time to time by representatives of the Company may contain "forward-looking statements" concerning the Company's financial outlook, future expectations, financial and operating projections, plans and strategies, its share repurchase program and the trading markets for its securities. These forward-looking statements are subject to a number of risks and uncertainties. The Company wishes to caution readers that certain factors may impact the Company's actual results and could cause results for subsequent periods to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. Such factors include, but are not limited to (i) the Company's substantial capital requirements and debt, (ii) market conditions, (iii) the Company's dependence on demand for wireless communications and related infrastructure, (iv) competition in the communications tower industry, including the impact of technological developments, (v) consolidation in the wireless industry, (vi) future regulatory actions, (vii) conditions in its operating areas and (viii) management's estimates and assumptions included in the Company's 2004 Outlook. These and other important factors are described in more detail in the "Risk Factors" and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's SEC filings and public announcements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
Contact:
WiFi Wireless
Investor Relations Department
Web: www.wifiwirelessinc.com
E-Mail: info@wifiwirelessinc.com
Source: Market Wire
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