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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Due Diligence who wrote (10270)	12/1/1998 11:21:00 AM
From: Phatt Jake	Respond to of 25711

World Wide Wireless Communications, Inc. and Shekinah Network Announce Execution of Lease for Excess Capacity on 40 ITFS Systems Nationwide Business Wire - November 27, 1998 20:16 SAN FRANCISCO--(BUSINESS WIRE)--Nov. 27, 1998--World Wide Wireless Communications, Inc (OTC BB:WLGS) and Shekinah Network announced today their agreement under which Shekinah has granted to WLGS an exclusive and irrevocable option to lease, and potentially purchase, excess capacity on some 40 ITFS channels owned by Shekinah. The acquisition of this additional channel capacity by WLGS greatly expands its ability to provide high speed wireless internet capabilities. Under the terms of the Agreement, WLGS may immediately commence operations in eight locations, including such places as Grand Rapids, Key West, Aspen, and Vail among others. The remaining 32 channels are expected to become available to WLGS over the next several years. The expansion of in the number channels controlled by WLGS from three to as many as forty-three establishes the company as one of the leaders in the high-speed wireless internet industry. The company has already commenced high-speed wireless internet operations from Mt. Diablo, in the East Bay area of San Francisco, and plans to rapidly expand its operations to other sites as well. WLGS will next commence operations on its pre-existing licenses in northern San Diego county, California and South Bend, Indiana. It is expected latter operations will commence coincidentally with those in nearby Grand Rapids, Michigan. In addition to the lease of excess airtime on the 40 channels, the agreement also provides WLGS with the option, upon approval from the Federal Communications Commission, to purchase the channels for an price of $150,000 per channel or $3,500,000 for the entire system. Within the past two weeks, WLGS announced the establishment of its European affiliate, World Wide Wireless-Europa. Today's announcement of the significant expansion of the domestic WLGS network further confirms the company's intentions of becoming a major global provider of high speed wireless internet services. CONTACT: World Wide Wireless Communications, Inc. Douglas Haffer, 415/956-9190 Kenn Olson, 949/574-1979 Potential MAJOR short position here...up .135 to .5x.52 on over 1mm shares... CHECK IT OUT AND DO YOUR OWN DD...Phatt man likes it Jake