**News Out**
Platforms Wireless International Announces Special Shareholders Meeting Key Proceedings
LOS ANGELES, Jan. 3 /CNW/ -- Platforms Wireless International Corporation, (OTC: PLFM - news), the developer of the revolutionary Airborne Relay Communications "ARC System" for wireless voice and data communications, announced today that the initiatives presented for Shareholder approval at the Special Shareholders Meeting held on December 28, 2000 were approved by the Shareholders of the Corporation, as follows:
à Common Stock Issued and Outstanding on Record Date:
November 9, 2000: 115,860,270
à Total Number of Proxy Votes Received: 70,338,924
à Quorum Percent Represented: 60.71%
Initiative No: 1 -- Increase Number of Shares of Common Stock
Authorized from One Hundred and Fifty Million (150,000,000) to
Six Hundred Million (600,000,000).
Proxy Vote Record:
à FOR: 66,347,917 % OF O/S: 57.27% % OF VOTES: 94.33%
à AGAINST: 3,931,973 % OF O/S: 3.39% % OF VOTES: 5.80%
à ABSTAIN: 59,034 % OF O/S: 0.05% % OF VOTES: 0.08%
Initiative No: 2 -- Increase Number of Shares of Convertible Preferred
Stock from Ten Million (10,000,000) to Fifty Million (50,000,000).
Proxy Vote Record:
à FOR: 66,689,970 % OF O/S: 57.56% % OF VOTES: 94.81%
à AGAINST: 3,560,039 % OF O/S: 3.07% % OF VOTES: 5.06%
à ABSTAIN: 59,034 % OF O/S: 0.05% % OF VOTES: 0.08%
At the Meeting, the following Officers and Directors were appointed and ratified:
à Francois M. Draper -- Executive Vice President, Chief Operating
Officer, and Chief Technical Officer. Mr. Draper was also appointed
to the Platforms Board of Directors.
à Forrest Walworth Brown, Esq. -- Senior Vice President, General Counsel.
Mr. Brown was also appointed to the Platforms Board of Directors.
à Thomas Beener, Esq. -- Senior Vice President, Corporate Counsel.
Mr. Beener was also appointed to the Platforms Board of Directors.
à William C. Martin, Jr. -- Vice President, Marketing. Mr. Martin was
also appointed to the Platforms Board of Directors.
William C. Martin, Chairman & CEO stated: "We're very pleased with the significant show of support from our loyal shareholders. We wish to assure them that management continues to escalate its efforts in this final drive to achieve PLFM's goals of Airborne Wireless Industry leadership. We are optimistic that 2001 is our year. We look forward to updating our shareholders on PLFM's continuing progress in what we believe are significant achievements in the build-up of our corporate business infrastructure: (i) The ARC System Airborne Payload; (ii) The ZeroGravity Payload Host Infrastructure (Aerostat); (iii) The Global Marketing and Distribution Infrastructure; and (iv) The Global Airborne Operations and Maintenance Infrastructure -- the four foundational cornerstones of the ARC System Wireless Communications global business infrastructure."
Mr. Rob Perry, President, commented: "I am pleased to report our progress on the ARC System is accelerating. ARC Commercial System demonstrations are scheduled to take place at the COI anechoic test chamber in San Diego, California, on March 5th and 6th, followed by the ARC Commercial System demonstration, installation, and integration with AMERICEL's cellular telecommunications network in Brazil. The Brazil System demonstration deployment is scheduled to begin approximately on March 15, 2001, and conclude on June 15, 2001."
Mr. Francois Draper, Executive Vice President and COO, CTO, added: "Progress and accomplishment on the ARC System, as well as System operating capabilities, presently exceed our expectations. I am confident our System demonstrations will prove successful and meet our customer's requirements. We are now beginning the process of exploring and considering Payload and Host Infrastructure manufacturing alternatives to ensure PLFM's readiness to meet anticipated global market demand for the ARC System."
Mr. Victor Ziller, Sr. Vice President, Latin America, stated: "I am extremely pleased with the results we are achieving with the ARC System. I am especially pleased to report that the forthcoming ARC System demonstration in Brazil is taking shape as a national event. We anticipate the attendance of high-level representatives of more than thirty of the leading telecommunications companies in Brazil and Latin America, as well as a significant contingent of high-level Government officials and dignitaries. The event will be covered by the international press and will include a gala reception, following the ARC System inauguration, at the estate of a high-ranking Brazilian official."
Mr. Martin concluded: "Our resolve for the year 2001 is to: (i) establish Platforms as the Airborne Wireless Industry leader; and (ii) establish the ARC System as the Industry's "Strategic Imperative": the most competitive alternative to deliver wireless communications services to the Industry's new, key target market: the emerging, under-developed, and under-served nations of the world -- a $250 billion / year marketplace."
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®. Management believes that these significant advances in the field of Airborne wireless communications technology, together with continuing technology improvements and new developments, will provide an efficient, 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 savings in both cost and deployment time, as compared to conventional systems. Platforms recently announced its first ARC System Conditional Contract with AMERICEL, S.A., one of the leading cellular telecommunications service providers in Brazil. Platforms can be found on the Web, at: 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 prove to be accurate or correct, and future events and actual results could differ materially from those indicated, expressed, or implied in these forward-looking statements.
For further information
William Martin, Jr. of Platforms Wireless International, 310-338-0637, or fax, 310-338-0268
or Susan Bolen, 914-332-6514, or Brad Meyer or Harvey Goralnick, 212-752-9445, or plfm@focuspartners.com, all of FOCUS Partners for Platforms Wireless International Corporation |
