IPKL .0005 - iPackets International CEO Updates Interview at Wallst.net
iPackets International, Inc. ("iPackets") (PINKSHEETS: IPKL), a developer and provider of wireless communications software and equipment for the mining industry, announced today that the Company's President and CEO, Naiel Kanno, was recently interviewed by Wallst.net, a Financial Media Group, Inc. company. As part of iPackets' larger efforts to provide the most recent and relevant information about the Company to the broader public, Mr. Kanno participated in the interview in order to discuss the Company's latest milestones and achievements. Details of the interview are available at: www.wallst.net.
Among other things, Mr. Kanno discussed the features and benefits of the Company's flagship product, iPMine, a mine safety system designed to provide real-time wireless communication and tracking in the highly dangerous environments characteristic of the mining industry. He was extremely upbeat regarding iPackets' success in achieving its stated mission of penetrating the huge Chinese mining market. In particular, he was very pleased about the joint venture into which iPackets had entered recently with Henan YongAn Investment Guarantee Co., Ltd. and China Coal Information Institute in the Province of Henan, China's second largest coal-producing province. Mr. Kanno pointed out that it has been the Company's stated objective to penetrate the Chinese market, and he was gratified both with the Company's progress as well as the validation of its ability to achieve its stated goals.
About the Mining and Mine Safety Industries in China
There are more than 280,000 mining enterprises in China, 80,000 of which are state owned. Of the state-owned mines, more than 700 are classified as large mines, which will soon face Chinese government mine safety regulations. Mine safety has been a major issue with more than 6,000 miners killed in China last year although independent estimates the real figure could be as high as 20,000 miners killed. According to Chinese government statistics, more than 12.2 million people were employed as miners in 2005, and approximately 7.0 million of these were coal miners.
About GuoAn Mine Safety Communication System, Inc.
GuoAn, with a registered capital of $12 million, is a Chinese Joint Venture between iPackets International, Henan YongAn Investment Guarantee Co., and China Coal Information Institute. GuoAn is responsible for the manufacturing, distribution, sales, marketing, installation, deployment, and support of iPackets' iPMine solution to the mining industry in China. The operation is based in the Province of Henan, China's second largest coal producing province.
About iPackets International, Inc. and iPMine
iPackets International is a developer and provider of wireless communications software and equipment for the global mine-safety industry. iPMine, the company's flagship product designed to significantly improve the safety of miners and equipment, is a real-time two-way wireless communications solution that tracks, monitors, and communicates with miners and equipment underground and above ground. For more information, visit www.ipackets.com.
Certain statements included in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations.
Source: Market Wire (March 1, 2007 - 9:45 AM EST)
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