ST. AUGUSTINE, Fla.,
Sept. 18, 2012 /PRNewswire/ -- O2 Secure Wireless, Inc. (Pink
Sheets: OTOW) is pleased to announce that a Memorandum of
Understanding (MOU) has been signed that outlines both parties'
intention to collaborate on the continued and expanded delivery of
wireless broadband services within South
America.
The MOU enables O2 Secure Wireless 60 days to evaluate and
complete the Due Diligence process. Providing the due diligence
processes returns positive data that is then appropriately
evaluated and confirmed, O2 Secure Wireless would be taking a
controlling interest in the operating cable company. The
immediate company goal would be to expand current services, which
includes include the immediate provisioning of Internet and home
phone and an IPTV platform through an already well-established
provider of these services. Mobile services utilizing the
branded corporate phone will also be offered to complete the
package. A final agreement is expected to be signed in December,
2012 following a thorough legal review the company legal
resources.
"We welcome this opportunity to collaborate with this company
and thereby expand our product offering and geographic coverage in
the promising international market for Cable, Internet, and
Telephone Service. By working with a company that is fully
operational. This company not only has an established
reputation and strong existing consumer base, it has
forward-thinking management and up-to-date core infrastructure
services. We are confident that the new arrangement will
bring significant benefits for both parties and ultimately
establish a solid presence in the territory for us," states
Val Kazia, CEO of O2 Secure
Wireless. "We are not releasing the name of the company that
we are in negotiations with in order to respect Non-Disclosure
agreements related to the due diligence process. Upon
completion of the review, full disclosure will be provided by the
appropriate means to close on the transaction."
In other company news, the review of the branded O2 mobile
phones is continuing. We have successfully enabled and tested
the device on the top four carriers by exchanging the SIM card
within the device. This proves that the portability of the
device is assured. CEO, Val
Kazia is utilizing this phone exclusively for all company
business and is extremely excited about its prospects to the
worldwide consumer. This prototype smartphone is as good as
any phone I have ever purchased or used and when the final product
is delivered with our recommendations, the phone line will be
competitive with any smartphone on the market. The product line is
still expected to be available during late Q4, 2012.
About O2 Secure Wireless: O2 Secure Wireless is currently
developing numerous wireless tower facilities in the U.S. O2 Secure
Wireless is also instrumental in the development of wireless
broadband communication services domestically. Under a recent
merger with Earthcom Service Inc., the Company is currently being
structured to provide affordable flat rate pre-paid wireless
services in developing countries internationally, specifically the
Dominican Republic.
Safe Harbor Act: This release may contain
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company's annual report.
For more information visit our website at
http://www.o2securewireless.com or contact Investor Relations
at: 855-222-0211
SOURCE O2 Secure Wireless, Inc.