|
Road Wings, Inc. Decides to Cease Stock Purchase of OneFi Technologies Stock
(Marketwire Via Acquire Media NewsEdge) LAS VEGAS, NV, October 7 / MARKET WIRE/ --
Road Wings, Inc. (PINKSHEETS: RDWG) announced
today that it would not continue purchasing stock in OneFi Technologies per
the terms of the stock purchase agreement that was reached earlier this
year. Road Wings President Travis Grimmett stated, "Road Wings has met
its stock purchase agreement requirements, and in view of prevailing market
conditions, the company will examine alternatives which will benefit its
shareholders now and for the future."
He went on to say, "Our company will continue to research companies with
value in which to invest, and most importantly, use the capital we invest
to move their product forward and not just for personal debt reduction."
About Road Wings, Inc.:
Road Wings, Inc. (PINKSHEETS: RDWG) currently holds the exclusive rights to
the revolutionary integrated telecommunications technology developed by
OneFi Technology. OneFi's innovative WiMax technology provides integrated
voice and data for all communication needs, including telephone, broadband
Internet, digital television, and more. The Company has developed a
comprehensive business plan designed to bridge the "digital gap" between
those with easy access to broadband networks and those without, both
domestically and internationally. The suite of services offered through the
robust broadband networks provided by WiMax technology includes Internet,
IPTV, and VoIP (both home and mobile). This innovative technology brings
its customers 100% wireless broadband in any area within their wireless
community. With scattered coverage in just a few metropolitan areas through
less than a third of the U.S., Clearwire (CLWR) has already achieve a
market cap in excess of $2.1 Billion with a similar technology. By adopting
this revolutionary technology across a significantly wider area, Road Wings
looks to answer an underserved market and achieve even greater results.
Safe Harbor Statement:
Except for historical information contained herein, the matters set forth
above may be forward-looking statements that involve certain risks and
uncertainties that could cause actual results to differ from those in the
forward-looking statements. Words such as "anticipate," "believe,"
"estimate," "expect," "intend" and similar expressions, as they relate to
the Company or its management, identify forward-looking statements. Such
forward-looking statements are based on the current beliefs of management,
as well as assumptions made by and information currently available to
management. Actual results could differ materially from those contemplated
by the forward-looking statements as a result of certain factors such as
the level of business and consumer spending, the amount of sales of the
Company's products, the competitive environment within the industry, the
ability of the Company to continue to expand its operations, the level of
costs incurred in connection with the Company's expansion efforts, economic
conditions in the industry and the financial strength of the Company's
customers and suppliers. The Company does not undertake any obligation to
update such forward-looking statements. Investors are also directed to
consider all other risks and uncertainties.
Contact:
Investor Relations
InvestSource, Inc.Email Contact
Copyright ? 2008 Marketwire
[ Back To TMCnet.com's Homepage ]
|
INDUSTRIES
INDUSTRIES
Find Solutions for Enterprises, SMBs & Service Providers at the INTERNET TELEPHONY Conference and EXPO East, February 2-4, 2009. Miami, Florida.
