TMCnet News
MediaG3's China Pilot Project Approved by China Ministry of CommerceSAN JOSE, Calif. --(Business Wire)-- MediaG3, Inc. (OTCBB: MDGC), a leading developer for broadband wireless product and interactive rich-media content delivery applications, today announced that its China pilot project has been approved by China Ministry of Commerce. MediaG3's China pilot project is the first step towards implementation of mg3 wireless broadband applications to service over 900 million people in the interior and rural regions of China. It is estimated that an average of $225,000 worth of MediaG3's system and equipment is required to service 10,000 subscribers. In an initial commercialization phase of 5% of rural population or 45 million subscribers, over $1 billion worth of MediaG3's system and equipment will be needed over time. Obtaining approvals from SARFT science and technology and Ministry of Commerce is a vigorous and thorough process to ensure MediaG3's technology and applications are consistent with China's overall development plan, and to verify the potential benefits, fitness and viability of mg3 wireless in China market. "We are all very excited about this opportunity and are getting ready to launch this pilot project," said Gordon Guo, General Manager of MediaG3 China Market. "MediaG3's China pilot project is a significant opportunity for MediaG3. First, it will allow us a national venue to demonstrate the immense value of our fixed wireless system to support network planning in China's vast rural areas where communications are needed and fiber and cable cannot be easily utilized. Secondly, the commercial feasibility of these networks will position MediaG3 and its equipment favorably as an important component to these plans for removing the digital divide in rural China," added Joseph Anzalone, Sr. VP of Operations of MediaG3. About MediaG3, Inc. MediaG3, Inc. develops and markets broadband wireless technology products and online applications that empower interactive content delivery to today's fixed and mobile consumers. With a well-defined business model of "U.S. Technologies, China Market," MediaG3 is developing its integrated business and product lines to offer the best solutions for broadband wireless infrastructures, online and mobile rich-media content delivery. MediaG3's three complementary products and applications, mg3 wireless, mg3 mobile and mg3 web 2.0, generate incremental revenue both independently and collectively. MediaG3 was formed in December 2005, and has two wholly owned subsidiaries in Shanghai China. MediaG3 is based in San Jose, California with operations in Santa Clara, California, Shanghai and Shenzhen, China. For more information on the company, please visit www.mediag3.com. Forward-looking statements such as "believe," "expect," "May," "plan," "intend," etc., contained herein are within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are based on the Company's beliefs and assumptions it made using information currently available to it and which reflect current views concerning those future events. Actual results could differ materially. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the volatility of trading markets, the Company's limited operating history, the inability to obtain additional capital, the Company's unproven business model, the risks of doing business in China, and other factors discussed in filings made by the Company with the Securities and Exchange Commission. |
