Calypso Wireless, Inc. announced today that it has agreed to a Settlement Agreement with Mr. Drago Daic to end all pending litigation over their mutual long-standing dispute. Calypso's Board of Directors has already approved the settlement. This settlement will clear the way for Calypso to enter into licensing structures and strategic alliances and to further develop additional technologies to improve its position in the market and to create the revenues for the benefit of the company and its shareholders, all of which have been placed on hold because of the litigation. Commenting on the proposed agreement, Cristian Turrini, President and CEO of Calypso Wireless, Inc., said: "This agreement settles all litigation with Mr. Drago Daic. The settlement opens the way for Calypso to really focus on the development of its technologies as well as on the licensing proposals we have received."
