(PR NEWSWIRE) DJ: MEI Receives First Increment of Equity Funding
DJ: MEI Receives First Increment of Equity Funding
BATON ROUGE, La., June 15 /PRNewswire/ -- Media Entertainment, Inc. (OTC
Bulletin Board: MEME) (MEI) announced today that it has received the first
$300,000 of a scheduled $600,000 equity injection obtained in a private
offering of its securities. A portion of the funds will be used to build
out and start up the company's first all-Wireless Internet Service Provider
(ISP).
"We're about eight weeks away from the launch of skysurfin'.net in our first
company-owned all- Wireless ISP, said Mr. David Loflin, President of MEI.
He indicated that the equity injection will allow MEI to pursue further
expansion of its Wireless Internet operations, as well as markets for its
Wireless DataLink System, which is designed as a less-maintenance-intensive
alternative to traditional hard-wire data transmission systems.
MEI's proprietary Wireless Internet System operates within a broadcast
signal in the 900 or 2400 MHZ band using two-way modems (internal or
external) outfitted with an antenna. As such, MEI's System has no reliance
on hard-wire to transfer data, making the local telephone company no longer
necessary for Internet access.
To visit MEI on the Internet, just surf to www.media-entertainment.com.
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, which are intended to be
covered by the safe harbors created thereby. Investors are cautioned that
all forward-looking statements involve risks and uncertainties, including,
without limitation, the ability of MEI to accomplish its stated plan of
business. Although MEI believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, any of the
assumptions could be inaccurate, and, therefore, there can be no assurance
that the forward-looking statements included in this press release will
prove to be accurate. In light of the significant uncertainties inherent in
the forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by MEI or any other
person that the objectives and plans of MEI will be achieved.
/CONTACT: James Kaufman of H+N Partners, 805-493-9273, for Media
Entertainment, Inc./
07:01 EDT
*** end of story ***
|
