It has now been three months since our team assumed the leadership of Central Wireless and introduced ourselves and our business model to our shareholders, following my appointment as Chief Executive Officer and Chairman of the Board in September. So, what has happened in these three very long months? We have made solid behind-the-scenes progress on several fronts.Likewise, however, as is the case with many start-ups, the company has been plagued with several challenges. I will address those first: In November, Central Wireless was slapped with a “Caveat Emptor” (CE) notification from OTC Markets for newsletters that were erroneously written by an unknown third party. Our team knew nothing about this, or why we were not informed prior to OTC Markets posting the notification. We conferred with legal counsel immediately and learned there is an automatic 30-day period one CE marks are posted. On day 30, I spoke with OTC Markets to ask about the timing of removing the mark. They did not provide a specific date, but we are hopeful it will be soon and believe the company is in full compliance with all their requests. We fully understand and share with you our desire to have it removed as soon as possible. The second challenge was related, in hindsight, to a premature announcement of our first acquisition— an excellent, well-established company in the trucking industry.In our eyes, this was “low hanging fruit,” since that company signed terms with Central Wireless long before we assumed the helm, and prior to our subsequent strategic restructuring. Based on guidance from management, we were assured that certain creditors would accept the terms. But we learned that was not the case, unfortunately after the proposed transaction was announced. For the interim, and for the benefit of all our shareholders, we decided to put that deal on the backburner until we get better clarity from creditors. Also during the first half of the new year, it is our goal to change our corporate name and trading symbol, and develop a website. You’ll be happy to know that just last week, we selected a name and reserved a trading symbol—both of which will remain under wraps for now, but stay tuned. At the time we complete an acquisition, and upon meeting the requirements, it is also our goal to list our shares on a major exchange, either Nasdaq or the New York Stock Exchange. Our entire team is excited about the long-term future of the company and believe we are on the right track and on the “ground floor” of building a solid, profitable organization. Rome was not built over night, however, nor are great companies, so please take heed of those words, “long-term.” As Warren Buffett said, “Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time...” Our aspiration, and the best way to look at Central Wireless, is that we aspire to become like a “private equity” company, but publicly traded, issuing shares to companies we acquire to be certain that our operating management teams have precisely the same interests in mind as all shareholders, namely, value creation. We will always have a pipeline of deals in various stages of acquiring, then growing them and eventually spinning them off to return capital to shareholders. Our priorities are to build the company’s financials and balance sheet by acquiring solid cash flows. In some cases, we may acquire a company that may not fit this precise model but has tremendous upside for near-term spin-off. We hope to get to a point where we have a portfolio of at least fifteen subsidiaries at various stages, and spin off three or four a year, either into a publicly traded entity or an outright sale. Those that are the most cash flow positive, we intend to keep longer term and continue to build our base. I appreciate your patience and loyalty and understand how difficult it can be for all of us, including myself, waiting for positive developments. That said, please know that your team is working diligently and aggressively toward meeting our mutual objectives. We look forward to a productive year ahead, and wish all of you a healthy and happy holiday season. Harry J. Orfanos, Chief Executive Officer About Central Wireless, Inc. Founded in 2010 as Central Wireless Inc., the company today is being transformed as an acquisition holding company that intends to acquire and operate profitable businesses that have annual revenues of $30+ million. Management anticipates it will complete its first acquisition prior to the first half of 2018. Forward-Looking Statements Except for historical information, some of the expectations and assumptions contained in this press release are forward-looking statements. Such forward-looking statements, including, but not limited to, completion of the company’s first acquisition prior to the first half of 2018, involve risks and uncertainties that could cause actual results to differ materially from such statements expressed or
implied herein. Factors that might cause such a difference, among others, include the company's ability to identify potential companies to acquire and to complete the acquisitions, and its ability to implement its business plan. As a result, this press release should be read in conjunction with the company's periodic filings with the Securities and Exchange Commission. For more information, please contact: investor@pondel.com https://s3.amazonaws.com/content.otcmarkets.com/media/1500003504/KbdrNSYIuwYDFuj/doc.pdf
