Kanakaris Wireless Plans Expansion of Sales to Fortune 500 and Emerging Growth Companies and Government
Online Video Highlights Annual Shareholders Meeting with Presentation Of Business Vision and Q & A
NEWPORT BEACH, Calif., March 15 /PRNewswire/ -- Kanakaris Wireless (OTC Bulletin Board: KKRS) presented its 2001 business strategy in a presentation at the Company's Annual Shareholder Meeting on March 14, 2001. A video highlighting the meeting, including a presentation by CEO Alex Kanakaris and CTO Robert Wood, will be posted online today at cinemapop.com and kanakariswireless.com
Kanakaris Wireless Business Vision:
-- Kanakaris Wireless has expanded operations into a state-of-the-art high
technology facility known as Enfrastructure in Aliso Viejo, CA. A
formal opening of the new space will occur at a later date.
-- Kanakaris Wireless is expanding its sales force and will target Fortune
500 and emerging growth companies as well as public agencies for its
KANWIN (Kanakaris Wireless Independent Network) and CinemaWEAR(TM)
services.
-- Kanakaris, through its Desience division, has applied for a
modification to its GSA Contract to sell to government its encoding,
bandwidth, hosting, point-to-point video conferencing, and other
related technology services.
-- Kanakaris plans to apply for provisional patents on CinemaWEAR,
EEC- Embedded Electronic Commerce, and OPCON II (an announcement will
be made once the applications have been filed).
-- Kanakaris has fine-tuned its business mission for maximum potential
revenue, profitability and market share, without deviating from
Kanakaris' area of expertise or the results of five years of research
and development.
* On the business-to-business side, Kanakaris will be offering an array
of encoding, web hosting and streaming solutions all based on
proprietary technology and our private independent distribution
network.
-- On the consumer and market share side, Kanakaris has developed
CinemaPop into a world leading online movie site viewed in over
100 countries with both free and paid subscriptions and ad
sponsorships. Over the next ninety days we will deploy three new
consumer web site channels which will effectively increase our
available ad sponsorship space by 75% and potentially increase the size
of our registered user base.
* Kanakaris executives and advisors also answered questions on a number of topics from shareholders.
Options Cancelled by Board:
In a Board meeting preceding the Annual Shareholder Meeting, the Board cancelled 2,537,500 options which had been granted in a May 2000 Stock Option Plan to executives Alex Kanakaris, Branch Lotspeich, John McKay and Lisa Lawrence. The cancellation was at the request of these Kanakaris employees, who all consented to the cancellation.
Directors Elected And Other Proxy Vote Results:
At the Shareholders meeting, eleven Directors were elected to the Kanakaris Wireless Board. In addition to CEO and Chairman Kanakaris, Vice Chairman Lotspeich, V.P. Lawrence, and Webmaster John McKay, the others elected were Chief Technology Officer Robert Wood, N.Y. Internet Chamber of Commerce President Charles Moore, Publisher Jeff Hall, eConnect CEO Tom Hughes, Patrick McKenna, Robert Sherry, and Rose Forbes. Biographies on each Director may be viewed online at www.Kanakaris.com, (click on Corporate Info link).
Other election results:
An amendment to Kanakaris restated articles of incorporation that increases authorized shares of common stock from 100,000,000 to 250,000,000 shares passed with 96.19% in favor, 3.45% against and 0.36% abstaining (61,558,659 for, 2,206,356 against, and 230,661 abstaining).
An amendment to Kanakaris restated articles of incorporation that increases the voting rights of Class A convertible preferred stock from twenty non-cumulative votes per share, voting together with Kanakaris common stock on all maters presented for approval of stockholders generally, to one hundred non-cumulative votes per share on such matters passed with 91.29% in favor, 7.97% opposed, and 0.74% abstaining ((35,313,268 for, 3.083,465 against, and 287,281 abstaining).
An amendment to Kanakaris amended and restated bylaws that provides that the acquisition of controlling interest provisions of the Nevada corporation code shall not apply in connection with the change in voting rights described in proposal three (above) passed with 92.35% in favor, 6.18% opposed and 1.47% abstaining (35,737,103 for, 2,392,820 opposed and 569,091 abstaining).
Ratification of the appointment of Weinberg & Co., P.A. as Kanakaris independent certified public accountants to audit Kanakaris financial statements for the fiscal year beginning October 1, 2000, passed with 99.10% in favor, 0.47% op[posed, and 0.43% abstaining (63,416,578 in favor, 302,532 opposed and 276,566 abstaining).
For further information on Kanakaris Wireless (www.KanakarisWireless.com, www.CinemaPop.com) please call Shareholder Relations: Colby Marceau, 714-444-0560. For media interviews only contact 714-235-2539.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995.
With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risk and uncertainties. The actual future results of Kanakaris Wireless could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, our ability to obtain financing as the need arises, the overall state of the Internet and e-commerce industries and the data control console industry, economic conditions generally, the financial health of our customers, market acceptance of new product or service introductions by us or our competitors, the timing of expenditures in anticipation of future sales, returns of our data control console products and the timing and nature of revenues from our Internet and e-commerce businesses and data control console product sales that are recognized during any particular quarter. The inclusion of forward-looking statements should not be regarded as a representation or guarantee by Kanakaris Wireless or any other person that our objectives or plans will be achieved.
SOURCE Kanakaris Wireless
/CONTACT: Shareholder Relations, Colby Marceau of Kanakaris Wireless,
714-444-0560; or for media interviews only, 714-235-2539/
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 121430/ |
