Calypso Wireless Announces the Appointment of Cristian C. Turrini as President and Chief Executive Officer
Monday April 9, 2:51 pm ET
Shareholders' Meeting Set For Thursday, May 17, 2007, 2:00 p.m. ET
MIAMI--(BUSINESS WIRE)--Calypso Wireless, Inc. (Pink Sheets:CLYW - News) announced today that its board of directors has appointed Cristian C. Turrini as the company's President and Chief Executive Officer. The appointment is the result of Calypso's on-going succession planning process and took effect on March 1st, 2007. Turrini, 34, succeeds David Davila, whose resignation has been accepted by the board of directors.
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"Since joining Calypso in 2006, Turrini has been a driving force within the company. His leadership has been and will continue to be instrumental in building a solidly competitive company. His focus is on securing key licensing deals and major partner relationships and positioning us globally and across industries to reap the benefits of Calypso's ASNAP(TM) patented technology (U.S. Patent #6,680,923) in the emerging Fixed Mobile Convergence world," said Alessandro Valenti, Vice President of Research and Development. "Turrini has earned the admiration and respect of our employees, our shareholders and partners, and even the industry as a whole. He is the ideal leader to take the helm as Calypso's President and Chief Executive Officer," Valenti added.
"Before I was appointed CEO, I saw the difficult challenges ahead, but I also recognized Calypso's potential. It was imperative to change Calypso's previous goal of building its own products to the present goal of developing strategic alliances and licensing structures, and further developing additional technologies to improve our position in the market," said Turrini in an open letter to all shareholders.
"Now, Calypso is entering a new phase in our evolution as a company where we can attempt to shape the market and accelerate the adoption of Seamless Fixed Mobile Convergence. While we face increasing competition, we are proud to be the holders of the patent granted by the United States Patent and Trademark Office and to be the only player in the industry offering a truly integrated total solution for Seamless Fixed Mobile Convergence. We are committed to capitalizing on Calypso's strategic advantages, forming strategic alliances, and facilitating licensing to those companies that may be infringing on our patent."
"In the coming months, we will be implementing strategies, locating the right partners, licensing the technologies to create revenues, increasing our portfolio of technologies, and providing our shareholders, partners, and employees with greater visibility," Turrini added.
"I am grateful for the opportunity to lead this company and appreciate the support I have received. I believe we are now on track to meet our goals and to make Calypso the leading source for Seamless Fixed Mobile Convergence," said Turrini, who graduated Magna Cum Laude with a BA in Economics and International Relations from Brigham Young University and who also holds a Juris Doctor's degree.
Calypso Wireless, Inc. will host a media and technical demonstration conference in the Grand Doral Room of the Intercontinental West Miami Hotel located at 2505 NW 87th Avenue, Miami, Florida 33172 on Thursday, May 17, 2007 at 4:00 p.m. EST. The conference will follow a shareholders' meeting to be held at the same location at 2:00 p.m. ET. All shareholders are encouraged to attend the shareholders' meeting. For further information regarding the conference or shareholders' meeting, please contact Jill Christian at 305-477-8722. To make reservations at the Intercontinental West Miami Hotel, please call reservations at 305-468-1400.
About Calypso Wireless, Inc.
Calypso Wireless is the company behind the ASNAP(tm) technology for which it was granted U.S. Patent #6,680,923 titled "Communication system and method" (http://www.uspto.gov search U.S. patent number 6,680,923), which covers the seamless roaming of voice, video and data between Wide Area Network access points, such as cellular towers (GSM/GPRS/EDGE, CDMA, WCMDA etc.) and short-range Internet access points (such as Wi-Fi, Bluetooth, etc.).
Calypso's patented ASNAP(TM) technology will enable cellular phones to automatically detect any available Wireless Local Area Network (WLAN) and then seamlessly switch between the signals of a standard cellular link towers and an available short-range broadband network such as cable or DSL with Wi-Fi), accelerating wireless broadband deployment, thereby creating a platform for revenue sharing between the synergistic companies and increased revenues for them by delivering new added services. It could also provide significant savings to Mobile Carriers in additional frequency spectrum and infrastructure equipment by offloading capacity to the Wireless Local Area Networks (WLAN) and IP networks while providing additional sources of revenue. The integration of ASNAP(TM) technology will enable greatly enhanced services such as broadband connectivity, real time two way video conferencing, VoIP and network-based gaming applications via Calypso's cellular phones, PDA's (Personal Digital Assistance) or any mobile devise powered with the company's ASNAP(TM) technology. The patent has also given Calypso the rights to offer license agreements to major mobile and ISP carriers as well as to cellular phones manufacturer and OEMs. Calypso has also built upon its patented ASNAP(TM) technology to create a new technology that could provide 'the' solution that allows satellite radio signals from carriers such as Satellite Radio and Sirius Satellite Radio to be readily received by all types of mobile wireless devices, thus generating a new potential revenue stream for both the satellite radio companies and the companies supplying service to mobile phones and devices and the manufacturers and retailers of those devices, as well for the licensing of this technology by Calypso.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: All statements included or incorporated by reference in this release, other than statements or characterizations of historical fact, are forward- looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management's beliefs, and certain assumptions made by us, all of which are subject to change.
Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.
This release is intended as a forward-looking statement within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to (i) The ability to provide technology in the future, (ii) Unexpected changes in the technology market, (iii) The success of the Company's expansion and sales and marketing strategies (iv) Competition within the Data Synchronization market (v) The ability of the Company to continue to finance its long-term strategy and expansion (vi) The ability of the Company to motivate and retain the services of its key personnel and hire additional qualified personnel to meet evolving staffing needs.
Contact:
Calypso Wireless Inc., Miami
Jill Christian, 305-477-8722
info@calypsowireless.com
calypsowireless.com
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Source: Calypso Wireless, Inc.
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