Recycled?
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BBAN Completes Initial Bond Offering
NORMAN, Okla., Sept. 18 /PRNewswire-FirstCall/ -- Broadband Wireless
International Corporation (OTC Bulletin Board: BBAN) reported today that the
company has entered into contract to complete the sale of their first
$20,000,000.00 bond offering.
Mr. Paul R. Harris, Chairman of Enhancement Holdings and GHW Group, and
newly appointed managing director of BBAN, and Mr. Ben F. Stanley, trustee for
Stanley Holdings Business Trust, also a recently appointed director of the
corporation, jointly announced that, "upon completion of this first bond
offering, the company anticipates receiving in excess of $18,000,000.00 after
fees and expenses. The company should be in receipt of these funds within
7-10 business days."
BBAN's newly adopted funding program initially included a $20,000,000.00
Asset Backed Development Note with 5.75% per annum semi-annual interest with a
maturity in 2008. The Note was prepared for placement with only pre-selected
and pre-qualified institutional buyers in accordance with applicable
regulations of the Securities Act of 1933.
The proceeds of this initial bond offering will be used to fund the
company's vast entertainment division, initially encompassing the production
of several major motion pictures. A portion of the remaining proceeds will be
allocated for other general corporate purposes, including the expansion of the
Timber Division with a chip mill acquisition.
Messrs. Harris and Stanley further stated that, "the company is underway
in acquiring additional timber property with successive significant bond
offerings to be announced in the very near future."
About Broadband Wireless International Corporation
Broadband Wireless International Corporation is a diversified holdings
company and is moving into a wide variety of investments that will generate
positive cash flow for the corporation and dividends for shareholders. The
company currently holds interest in the timber, film, and music industries and
creates a subscription based entertainment service for entertainers, athletes,
and affinity groups.
Safe Harbor Forward-Looking Statements
Except for historical information contained herein, the statements in this
release are forward-looking statements that are made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and uncertainties
that may cause the companies' actual results in future periods to differ
materially from forecasted results. Such risks and uncertainties include, but
are not limited to, market conditions, competitive factors, the ability to
successfully complete additional financings and other risks.(9/18/2003)
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Broadband Wireless International Announces Receipt of Surety Bond As Funding Collateral
LAS VEGAS, March 3 /PRNewswire-FirstCall/ -- Broadband Wireless
International Corporation (OTC Bulletin Board: BBANE)/Entertainment Direct.TV
announces the receipt of a 100 Million USD Surety Bond from Enhancement
Holdings, LLC currently held in safekeeping by Republic Bank and Trust in
Norman, Oklahoma as an asset for BBANE.
The receipt of the bond is the first step in an agreement with Enhancement
Holdings, LLC and Stanley Holdings Business Trust to provide liquidity to
Broadband Wireless International Corporation/Entertainment Direct.TV in the
weeks to come.
Enhancement Holdings, LLC, a privately held company along with Stanley
Holdings Business Trust, are engaged in the business of corporate financing,
business consulting, debt instrument financing, international trade and asset
enhancement. Paul Harris is the Chairman and CEO of Enhancement Holdings, LLC
and Ben Stanley is the Chairman and CEO of the Stanley Holdings Business
Trust. Under the agreement, Enhancement Holdings, LLC will receive three
seats on the BBANE board and a ranking equity position. "With the addition of
our collateral position and experience to the BBANE foundation, you can expect
a very profitable and lasting relationship," stated Mr. Harris. "As Chairman
and CEO of Stanley Holding Business Trust, I am honored to bring forth this
investment in BBANE. This investment will allow funding for new and upcoming
independent filmmakers for their projects and generate jobs in the film
industry. I am pleased to have been a part of this accomplishment," stated
Mr. Stanley.
Keith McAllister, one of the directors on the board of BBANE and a
principal of Entertainment Direct.TV, Inc., has been working with Enhancement
Holdings, LLC and Stanley Holdings Business Trust since the fall of 2002 to
arrange for this bond and ultimately the financing associated with it. "It has
always been our commitment to execute the plan approved by the court back in
the summer of 2002. Fortunately we will now be able to do that with this
funding mechanism," stated Mr. McAllister.
About Broadband Wireless International Corporation
Broadband Wireless International Corporation creates a subscription based
entertainment service for entertainers, athletes, and affinity groups known as
an "ESP". ESP subscribers are enabled to have a rich digital experience with
their favorite artist, professional sports figure or desired affinity group.
The experience includes instant messaging, personal email, interactive polls
and quizzes, digital downloads of audio and video, chat rooms, message boards
and forums. The ESP is maintained with efficient content management tools
that offer remote publishing capability for immediate content changes. This
subscription model allows subscribers exclusive access to various media, event
and merchandise opportunities. BBANE is establishing itself as the premier
provider of a triple win business model for entertainment distribution. BBANE,
by and through its wholly owned subsidiary, Entertainment Direct.TV, Inc.,
also owns a soundstage in Las Vegas, Nevada near the Mandalay Bay Resort and
Casino. Other services include technology commercialization and Internet
services. (3/3/03)
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On December 28, 2002 BBAN the reorganized company entered into a
contract Enhancement Holdings, LLC (EHLLC) and Stanley Holdings Business Trust
(SHBT) to provide liquidity to BBAN. EHLLC would help the company obtain credit
financing with the use of a $100 Million USD Insurance Bond held by EHLLC. In
exchange the Company would then nominate and appoint 3 new directors presented
by EHLCC and Stanley Holdings.
On February 28, 2003 BBAN received a 100 Million USD Insurance Guarantee
Bond from Enhancement Holdings, LLC which was to be held in Custodian
safekeeping by Republic Bank and Trust in Norman, Oklahoma for credit
enhancement purposes. Enhancement Holdings, LLC along with Stanley Holdings
Business Trust are engaged in the business of corporate financing, business
consulting, debt instrument financing, international trade and asset
enhancement. Paul Harris is the Chairman and CEO of Enhancement Holdings, LLC
and Ben Stanley is Chairman and CEO of the Stanley Holdings Business Trust.
Under the agreement Enhancement Holdings, LLC will receive 3 board seats on the
BBAN board and a ranking equity position upon liquidity.
On July 9, 2003 BBAN received a Timber Deed valued at $31 Million from
Stanley Holdings Business Trust currently held in safe keeping at Hancock Bank,
Gulfport Mississippi.
On August 11, 2003 the New Board approved Two Timber purchase contracts
with International Paper to begin timber harvesting on the 5,600 acres supported
by the timber deed. The contract holds an estimated annual harvest value of
$3,200,000.
On August 12, 2003 BBAN completed the start up phase of the Timber
Division located in the Arkansas Pine Plantation; the total start-up cost is
expected to be around $1,000,000 and was largely covered to date by Stanley
Holding Business Trust and affiliates. The board of directors had also was in
negotiation to acquire a chip mill close to the harvest site. |
