(PR NEWSWIRE) Platforms Wireless International Announces Opening of New Offic
Platforms Wireless International Announces Opening of New Offices, New Wireless
Communications Technology, New Marketing and Sales Goals, Status of Audited
Financial Statements
LOS ANGELES, Sept. 19 /PRNewswire/ --
Platforms Wireless International Corporation, (OTC: PLFM), the developer of
the revolutionary Airborne Relay Communications "ARC System," for wireless
voice and data communications, made the following announcements today:
William C. Martin, Chairman and CEO stated: "Platforms International
Corporation recently changed its name to Platforms Wireless International
Corporation, to more closely associate the corporate identity of our Company
with the industry we serve. The name change does not affect our CUSIP number
or our trading symbol."
Technology Update
Francois M. Draper, Executive Vice President, COO & CTO stated, "We are
pleased to report we're making excellent progress on the ARC System Airborne
Payload scheduled for delivery early next year. System performance
capabilities are surpassing expectations, and new wireless communications
technology is being added to enable value-added demonstrations of:
* "PLFM TWIC(R)" "T1 Wireless INTERNET Communications(R)" -- B2B Internet
Communications at T1 Transmission Rates.
* "PLFM AAT(R)" "Advanced Antenna Technology(R)" -- allows superior
Airborne antenna signal directional and targeting control
* "PLFM TOPS(R)" "Technology Obsolescence Protection System(R)" -- ARC
System Technology Modularity and Flexibility which, when combined with
System Payload Recoverability and Re-use, significantly extend
longevity of investment and technology.
* PLFM High-powered Link Budgets -- allow superior penetration of
concrete structures, automobiles, and shadowed areas
* PLFM "E-911" -- Mobile Phone Locator Facilities (in less than
100 meters), in full compliance with the Federal Communications
Commission recent order for public safety, location-based services.
"In light of recent technology developments," Mr. Draper continued, "the
ARC System is currently under review by Intellectual Property attorneys. We
expect to file a number of patents in the next few months."
Financial Update
Charles B. Nelson, Sr. Vice President & CFO, stated: "We are pleased to
report audited financial statements are essentially completed for FYE June 30,
1996, 1997, 1998 and 1999. The audited financial statements will soon be
communicated to the financial community in a press release and posted to our
website. Unaudited financial statements for FYE June 30, 2000 are expected to
be completed by September 29, 2000, and will be submitted to the auditors the
following week. Audited financial statements for FYE June 30, 2000 are
expected to be completed in October, bringing Platforms completely up to date
on all of its accounting functions.
"Barring any unforeseen delays, Platforms expects to file Form 10 with the
SEC in October, bringing the Company to a fully reporting status, effective
60 days later. Re-listing on the BB will follow the satisfactory completion
of SEC comments, and approval by the NASD.
"On the Corporate Financing front, we expect the arrangements for
financing should be completed by the end of September."
New Offices
Robert D. Perry, President, stated: "We are pleased to report that
Platforms has opened two new offices. A new, 4,000 square feet Engineering
and Technology Headquarters has been established in San Diego, California, the
Wireless Industry capital of the nation. This facility is proximate to
Composite Optics Inc. ("COI"), and it significantly facilitates the working
interaction between Platforms' and COI's engineering staffs. The location of
this new facility is:
Platforms Wireless International Corporation
Engineering and Technology Headquarters
10675 Treena Street - Suite 103
San Diego, California 92131
U.S.A.
"In line with current marketing activity in the Pacific Rim markets,"
Mr. Perry continued, "Platforms has opened a Sales and Marketing office in
Taiwan. The location of this new facility is:
Platforms Wireless International Corporation -- Taiwan
Mr. James Cheng, Director
145, Sec.2, Chung Shan N. Rd.
Taipei, Taiwan
R.O.C.
PLFM New Website
William C. Martin, Jr., Vice President, Corporate Development, stated:
"We have made significant advances on the new PLFM Website, scheduled for
release October 15, 2000. The new website will provide PLFM with an updated,
high-technology image more consistent with the wireless communications
industry it serves. The Site will include more user-friendly features and
expanded information content, including significant excerpts from the PLFM
Strategic Business Plan, up to date, audited financial statements, all
pertinent SEC filings, and a comprehensive presentation of the ARC System and
its unique capabilities. The Site will also include an interactive
"Frequently-Asked-Questions" (FAQs) facility to enable investors to interact
with management and investor relations."
PLFM Business Goals and Projections
Mr. Martin, Sr., concluded: "Platforms continues to make significant
progress on its course to become the new "Strategic Imperative" for the
Wireless Communications Industry. We are pleased to report that significant
business activity in Latin America and The Pacific Rim has prompted the
revision of our Company's anticipated business goals, raising our sales and
marketing projections to $1 billion in ARC System contracts by the end of FYE
June 30, 2001."
About Platforms International
Platforms International Corporation, headquartered in Los Angeles,
California, is the developer and marketer of the revolutionary wireless
communications technology known as the Airborne Relay Communications "ARC"
System, and its family of Airborne, host infrastructures, the ZeroGravity
AeroStructures(R). These significant advances in the field of Airborne
wireless communications technology provide the most efficient, most
cost-effective, all-broadband, voice and data communications alternative for
augmenting, replacing, and supplementing terrestrial wireline and cellular
telecommunications infrastructures, as well as high- and low-earth orbiting
satellites -- at a fraction of the cost and time it takes to deploy these
conventional systems. Platforms recently announced its first ARC System
Conditional Contract with one of the leading cellular telecommunications
service providers in Brazil.
Platforms can be found on the Web, at: www.platforms-intl.com or
www.plfm.net .
Safe Harbor Act Disclaimer
Forward-looking statements -- The statements contained in this Press
Release, which are not historical facts, are "forward-looking statements,"
within the meaning of Rule 175 under the Securities Act of 1933, and Rule 3b-6
under the Securities Exchange Act of 1934, and as defined in the Private
Securities Litigation Reform Act of 1995, and such statements qualify for the
Safe Harbor protection afforded under such Acts. Forward-looking statements
can be identified by the use of forward-looking words, such as "believes,"
"expects," "may," "will," "should," "anticipates," or the negative thereof, or
other variations thereof, or comparable words, or by statements related to
future plans, strategies, or other business development activities that
involve risks and uncertainties. Management cautions the reader that
"forward-looking statements" including, without limitation, statements
regarding Platforms technology, products, marketing plans and strategies,
markets for its products and services, and expected, projected results of
operations, are all predictions, expectations, and anticipations. No
assurances can be given that such predictions, expectations, and anticipations
will prove accurate and correct, or that anticipated, projected future results
will be achieved. Numerous risk factors can cause actual results to vary
materially from the future results indicated, expressed, or implied in
forward-looking statements. Such risks and uncertainties include, but are not
limited to Platforms' ability to successfully market its products and services
to new customers; the Company's ability to obtain necessary financing to
support corporate operations and finance the acquisition of test equipment and
systems; the Company's ability to obtain required permits, licenses, and
authorizations in a timely manner; the Company's performance of a successful
ARC System Demonstration in Brazil; the ability of Service Providers to
successfully market ARC System wireless communications services to
subscribers; the ARC System's capability to cost-effectively and profitably
penetrate higher-cost, rural area markets; and the unknown impact of probable
entry into the market by larger, better capitalized competitors. Therefore,
there can be no assurance that the information indicated, expressed, or
implied in the forward-looking statements contained in this Press Release will |
