05/13/03 Koala Receives a Purchase Order from Allo Mobile of France
TORONTO--(BUSINESS WIRE)--May 13, 2003--Koala International Wireless Inc. ("Koala" or the "Company") (KIWI - news) announced today that it has received a Purchase Order from Allo Mobile of France to purchase 10,000 units of Koala's PDA device currently in the final stages of development with an independent contractor. The Purchase Order, if fulfilled in its entirety, will have a total value of 4 million Euros.
Under the terms of this Purchase Order, Koala will deliver 10,000 devices beginning in the Fourth Quarter of 2003. The Company must first meet certain design requirements that are required for the fulfillment of this order. Koala must slightly modify the functionality of the prototypal Wireless Telephony and Data, Voice, SMS Messaging, and Browser Device described in the Purchase Order. Koala expects to complete the necessary modifications and finalize the engineering and manufacturing alterations to meet these requirements consistent with the contemplated fulfillment schedule.
Allo Mobile of France is a Qualified Platform and Device and Peripheral Hardware Provider for a number of Europe's largest wireless telecom companies. Joele Fagerstein who is the CEO of Allo Mobile stated that he has been very impressed with the PDA's entry price and functionality, and looks forward to the delivery of the product. "We look forward to leveraging Allo Mobile's success in the French market to strengthen the market penetration for Koala International Wireless Inc.," stated Terry Clarke, President of Koala International Wireless Inc.
"We are very excited about the future prospects for Koala International Wireless Inc. We believe that this order will be a good start to getting our products and services out into the market and will hopefully serve as a precursor for future orders for other interested carriers," stated Terry Clarke, President of Koala International Wireless Inc.
About Koala International Wireless Inc.
For updated information, please visit the Company's Web site at: www.koalawireless.com. About Koala: Koala is developing an International Mobile Virtual Network Operator (IMVNO) platform to allow the delivery of voice, data and Short Messaging over multiple networks. Concurrent with the IMVNO development, Koala is pursuing the development of applicable devices to serve the network subscribers The IMVNO strategy will enable subscribers to access the Internet, play and store MP3, utilize existing applications including calendaring, contact management systems, email and Short Messaging and additional functionality, some not currently available in the marketplace.
This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words "will," "upon," "develop(ment)" and similar expressions identify certain forward-looking statements. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes. The material should be read in conjunction with the Company's current annual and quarterly reports filed with the SEC, which contain discussions of currently known factors that could significantly impact the Company's future expectations.
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