04/22/04 KIWI Network Solutions, Inc. Completes Purchase Of PENFLEX Wireless Technologies Inc. and its Proprietary Wireless ICE3 Rules Engine
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--April 22, 2004--KIWI Network Solutions, Inc. (KWNS - news) is pleased to announce that it has closed the purchase of all the outstanding shares of PENFLEX Wireless Technologies Inc. of Toronto, Ontario ("PWT"). PWT has developed a Wireless Rules Engine ("ICE3(R)") that enables KIWI and the KEEWEE device to connect to most transmission formats without manual configuration. ICE3(R) also allows different databases, software applications and appliances to communicate on a unified real-time basis. PWT has been acquired for 2,500,000 shares of KIWI Networks Solutions Inc. R144 Common Stock that is restricted for a period of two (2) years.
PWT's management team have developed, operated and implemented fixed environment Rules Engine technologies since 1996. Current companies utilizing PWT's management's technologies include Ceridian Corporation (CEN - news) , Costco Wholesale Corporation (COST - news) and others. PWT has developed ICE3(R) as a wireless technology extension positioning KIWI and PWT to service current non-wireless Rules Engine users with a mobile wireless solution. PWT is based in Toronto, Canada and has development and distribution offices in Calcutta and Bangalore, India. PWT's International and Canadian based management teams have joined KIWI. The India based PWT operations will work in unison with KIWI's offices in Singapore to expand the integration of ICE3(R) in Asian markets and elsewhere.
KIWI is perfecting an International Mobile Virtual Network Operator (IMVNO) platform that enables the delivery of 2-Way VOICE/VIDEO/AUDIO/DATA/SHORT MESSAGING over Internet Protocol, Cellular, Short Messaging, 802.11B/G and other networks. KIWI is finalizing the development of applicable devices and peripherals. The technologies and hardware are compatible with all major cellular carriers, ISPs and virtual network companies.
This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words ``can,'' ``anticipates,'' 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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