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EGIL Completes Required Payments for Exclusive Vertical Market Rights
BOCA RATON, Fla.--(BUSINESS WIRE)--Edgetech International, Inc. (OTC:EGIL) is pleased to confirm that the Company’s payment obligations have been fulfilled with regard to the exclusive licensing rights, virtually worldwide, for several major vertical markets for The Edge, a unique, handheld, stand alone wireless unit with a built-in modem and full-screen display functioning at DSL-type speed. All payments in the sum of $400,000 have been made on time and in their entirety, solidifying EGIL’s ability to capitalize in the highly lucrative vertical markets of (i) fantasy sports and sports book; (ii) online poker; (iii) music, movies and television; and (iv) financial services markets.
EGIL continues to receive shipments of Edge units from the manufacturer from our initial 5,000 unit order. As we build our subscriber base, Edgetech intends to take full advantage of these vertical markets by offering these value-added services for the utilization of The Edge as a massive content distribution vehicle. Content distribution is used for specific high-traffic events such as live Web broadcasts by continually dispersing content from the originating server to other servers via satellite links. In this manner, content delivery is more selective and dynamic than the simple copying or “mirror site” of a Web site to one or several geographically dispersed servers.
EGIL is eagerly anticipating the upcoming arrival of an upgraded edition of The Edge loaded with special features. The enhanced version includes a back-lit keyboard, razor like keyboard, USB port, a sleek new design, a thinner design, and an exterior window for a clock.
“Completing out required payment objectives for vertical market exclusivity is a significant milestone for our Company, our shareholders, and the future growth for a product operating at a high quality level,” commented Edgetech CEO, Lev Parnas. “Our vertical market capabilities open many doors for the Company’s revenue generating capabilities while enhancing the overall experience of using The Edge for our subscribers.”
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