REALITY WIRELESS NETWORKS (U-RWNT) - News Release
Reality Wireless Networks to Launch WiFi Convergence Initiative
CAMPBELL, Calif., Aug. 21 /PRNewswire-FirstCall/ -- Reality Wireless Networks, Inc. (BULLETIN BOARD: RWNT.OB) (the "Company" or "Reality Wireless") announced today that it will formally begin pursuing its WiFi Convergence strategy. The strategy outlined in a statement to shareholders addressed the Company's vision to become the single communications services provider for its current and future business and consumer customers. To facilitate the launch of its strategy, the Company has recently retained a New York based investment bank to raise $8.0 million, the proceeds of which will enable the acquisition of small broadband and communications services properties in the existing services regions.
The Company, once operationally merged with ICC Internet Corp., will have the building blocks to enter and compete in the local services and last mile convergence space with regional services providers now targeting the small business and consumer with multiple services on disparate networks. "Most communications services companies try to be the best in cellular, line services, cable and DSL broadband. Other services they provide tend to be "add-ons" and spotty in quality. The real opportunity is to build networks that address all local business and consumer's needs," stated Victor Romero, President of Reality Wireless Networks. WiFi convergence with existing networks provides many advantages to both the end user and the service provider including the delivery of the last mile solution wirelessly, cheaply, and in broadband.
Discounted network assets, subscriber bases, and equipment are readily available for purchase and may be quickly integrated into the Company's existing networks. The Company expects to grow through small acquisitions targeted in or next to their current communication services footprints. Using current networks as a starting point, the Company will begin filling in data transfer and voice services over their existing WiFi and fiber networks and add fiber networks and WiFi infrastructure as needed to meet customer demands. The Company looks to a future in which it will begin to adopt back-end systems that support and interact with other cell-oriented billing systems. Following its merger with ICC Internet, its footprint will include Northern and Southern California, Dallas, Chicago, New York, Houston, Austin, San Antonio, Atlanta, Las Vegas and Phoenix.
About Reality Wireless Networks ( realitynetworks.com )
Reality Wireless Networks offers broadband wireless services through hybrid networks including fixed wireless, 802.11, and fiber to markets either underserved or not served by DSL and cable modem technologies. Currently operational in California, the company has targeted markets including residential, SOHO, and multi-unit apartment complexes across the country. At the corporate level, Reality Wireless Networks is actively pursuing an acquisition growth strategy. For more information, please contact: Company Reporter Inc., Mike Long, 281-870-0225.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this press release constitute forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Reality Wireless Networks, Inc. (collectively, referred to as "Reality," "we," "us," "our," and/or the "company"), or developments in the company's industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the company's limited operating history, lengthy sales cycles, the company's dependence upon a relative concentration of customers, competition, product development risks and risks of technological change, dependence on selected vertical markets and third-party relationships and suppliers, and other risks and uncertainties.
Reality Wireless Networks, Inc.
CONTACT: Mike Long of Company Reporter Inc., +1-281-870-0225
Web site: realitywirelessnetworks.com |
