FAVE whoa, what's with it, late reaction to Friday's news?
5th Avenue Channel Corp. Licenses to Bezenet, Inc. its Provisional Patent Wireless Integrated Streaming Video System for Distribution in Italy
NORTH MIAMI, Fla.--(BUSINESS WIRE)--Dec. 1, 2000--5th Avenue Channel Corp. (Nasdaq: FAVE - news) a Florida based television, Internet and retail company has agreed to license its provisional patent, a wireless integrated streaming video system to Bezenet, Inc., a Florida corporation for $100,000 per year for 2 years in addition to 25% of gross revenues. ``This agreement is the first license issued for our wireless streaming system and represents the first use of the recently acquired ''Be-Ze`` brand under which we plan to do our business in Italy'', said Mel Rosen, CEO of 5th Avenue Channel Corp.
``This license offers us the opportunity to be first to market this technology in Italy. We expect this wireless streaming system to be of interest to video professionals, television stations, security professionals and consumers alike'', said Sergio Massaglia, President of Bezenet, Inc. The license grants Bezenet, Inc. exclusivity to distribute the wireless streaming system under the ``Be-Ze'' brand name in Italy once it becomes available from 5th Avenue Channel Corp.
About the 5th Avenue Channel
5th Avenue Channel Corp., through its Net Video Networks division, is creating and aggregating television and video content and making it available through streaming on-demand over the Internet. The company owns and operates a wireless cable system in Wisconsin and 5th Avenue Channel Retail, Inc. a business-to-business sales division that sells products to mass market retailers across the country.
This press release contains statements that are forward looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this press release the words ``believes,'' ``plans,'' ``estimates,'' ``expects,'' ``intends,'' ``anticipates,'' ``may,'' ``will,'' ``should,'' ``could,'' and other similar expressions are intended to identify forward-looking statements. All forward-looking statements are based largely on current expectations and beliefs concerning future events that are subject to substantial risks and uncertainties. Actual results may differ materially from the results suggested herein. 5th Avenue Channel's actual results may differ materially from the results discussed, implied or forecasted in the forward-looking statements. Further information on the factors that could affect the actual results of 5th avenue Channel Corp. are included in its report on Form 10-KSB for the year ended December 31, 1999, and the most recent form 10QSB for the quarter ended September 30, 2000, which are on file with the Securities and Exchange Commission. 5th Avenue Channel Corp. assumes no obligation to revise or update any forward-looking statements contained in this press release.
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Contact:
5th Avenue Channel Corp.
Mel Rosen, CEO
(305) 947-3010 x258 |
