We got NEWS. No assets, but hey its a start. We do have another office to pay for in England.
biz.yahoo.com
Wednesday November 8, 4:05 pm Eastern Time
Press Release
SOURCE: Platforms Wireless International Corporation
Platforms Wireless Announces Completion of Audited Statement of Financial Condition for Fiscal Year Ended June 30, 2000
LOS ANGELES, Nov. 8 /PRNewswire/ -- Platforms Wireless International Corporation, (OTC: PLFM - news), the developer of the Airborne Relay Communications ``ARC System,'' for wireless voice and data communications announced today that it has completed the Statement of Financial Condition for fiscal year ended June 30, 2000.
``In the corporate accounting area,'' Mr. Charles B. Nelson, CFO stated, ``we are pleased to report that our independent auditors, have completed the Statement of Financial Condition for fiscal year ended June 30, 2000. The actual Statement is included with this press release; the Auditors' Report and Accompanying Notes to the Financial Statement are being posted on Platforms website.''
``The completion of this audited financial statement,'' Mr. Nelson continued, ``is the culmination of an eighteen-month effort to bring the Platforms' accounting function current, and the key pre-requisite to file Form 10SB and bring Platforms to a fully reporting status with the SEC.''
Mr. Robert D. Perry, President, stated, ``Last week, the ARC System CDR (Critical Design Review) Meeting was held at the Platforms San Diego Technology Center. At this 2-day meeting, with the full participation of all critical strategic partners, vendors, and Americel, the ARC System performance specifications and demonstration schedules were reviewed and finalized for the ARC airborne payload and the Zer0Gravity AeroStructure.''
New Offices
Robert D. Perry, President, stated: ``We are pleased to report that in line with current marketing activity in the European marketplace, Platforms has opened a Sales and Marketing office in England. Mr. Swaraj Jeyasingh has joined the Platforms Wireless team after fourteen years with British Telecom in England. During his last two years with British Telecom, Mr. Jeyasingh researched worldwide projects involving (HAP) High Altitude Platforms and communication payloads for the telecom industry. We feel that he will be a key addition to our team.'' The location of this new facility is:
Platforms Wireless International Corporation - Europe
Mr. Swaraj Jeyasingh - MSc MIEE CEI
4 Foxwood Crescent
Ipswich, IP4 5NY
England
About Platforms International
Platforms International Corporation, headquartered in Los Angeles, California, is the developer and marketer of the revolutionary wireless communications technology known as the Airborne Relay Communications ``ARC'' System, and its family of Airborne, host infrastructures, the ZER0GRAVITY AEROSTRUCTURES®. These significant advances in the field of Airborne wireless communications technology offer the most efficient, most cost-effective, all-broadband, voice and data communications alternative for augmenting, replacing, and supplementing terrestrial wireline and cellular telecommunications infrastructures, as well as high and low-earth orbiting satellites -- at a fraction of the cost and time it takes to deploy these conventional systems. Platforms recently announced its first ARC System Conditional Contract with Americel, S.A., one of the leading cellular telecommunications service providers in Brazil.
Platforms can be found on the Web at: www.plfm.net
Safe Harbor Act Disclaimer
FORWARD-LOOKING STATEMENTS -- The statements contained in this Press Release, which are not historical facts, are ``forward-looking statements,'' within the meaning of Rule 175 under the Securities Act of 1933, and Rule 3b-6 under the Securities Exchange Act of 1934, and as defined in the Private Securities Litigation Reform Act of 1995, and such statements qualify for the Safe Harbor protection afforded under such Acts. Forward-looking statements can be identified by the use of forward-looking words, such as ``believes,'' ``expects,'' ``may,'' ``will,'' ``should,'' ``anticipates,'' or the negative thereof, or other variations thereof, or comparable words, or by statements related to future plans, strategies, or other business development activities that involve risks and uncertainties. Management cautions the reader that ``forward-looking statements'' including, without limitation, statements regarding Platforms technology, products, marketing plans and strategies, markets for its products and services, and expected, projected results of operations, are all predictions, expectations, and anticipations. No assurances can be given that such predictions, expectations, and anticipations will prove accurate and correct, or that anticipated, projected future results will be achieved. Numerous risk factors can cause actual results to vary materially from the future results indicated, expressed, or implied in forward-looking statements. Such risks and uncertainties include, but are not limited to Platforms' ability to successfully market its products and services to new customers; the Company's ability to obtain necessary financing to support corporate operations and finance the acquisition of test equipment and systems; the Company's ability to obtain required permits, licenses, and authorizations in a timely manner; the Company's performance of a successful ARC System Demonstration in Brazil; the ability of Service Providers to successfully market ARC System wireless communications services to subscribers; the ARC System's capability to cost-effectively and profitably penetrate higher-cost, rural area markets; and the unknown impact of probable entry into the market by larger, better capitalized competitors. Therefore, there can be no assurance that the information indicated, expressed, or implied in the forward-looking statements contained in this Press Release will prove to be accurate or correct, and future events and actual results could differ materially from those indicated, expressed, or implied in these forward-looking statements.
PLATFORMS WIRELESS INTERNATIONAL CORPORATION
(Formerly Platforms International Corporation, Inc.,
A Development Stage Corporation)
STATEMENT OF FINANCIAL CONDITION
JUNE 30, 2000
ASSETS $0
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES:
Bank overdraft $41,123
Accrued expenses 114,749
Accrued salaries, wages and benefits 484,240
Accrued research and development costs 246,000
Accrued interest 10,685
Due to related parties 3,002,516
Total current liabilities 3,893,313
STOCKHOLDERS' DEFICIT:
Preferred stock, $.001 par value;
10,000,000 shares authorized;
no shares issued or outstanding
Common stock, $.001 par value,
150,000,000 shares authorized;
102,970,771 shares issued
and outstanding 102,971
Common stock subscribed 7,548,860
Additional paid-in capital 3,199,709
Deficit accumulated in the
development stage (14,744,853)
Total stockholders' deficit (3,893,313)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $0
SOURCE: Platforms Wireless International Corporation |
