Yes. Have you not been paying attention?
Exhibit 99.1
Winsted Holdings, Inc. Signs Letter of Intent to Acquire a Majority Interest in MultiCom One, Inc.
Winsted Holdings, Inc. Signs Letter of Intent to Acquire a Majority Interest in MultiCom One, Inc.
Monday March 10, 2008
Northfield, Ill. Winsted Holdings, Inc. (OTC:WNSH) signed a Letter of Intent to acquire a majority interest in MultiCom One, Inc. ("MCOI"), a Diversified Telecommunications company
specializing in providing 4th generation communications capabilities including fixed and mobile WiMAX broadband solutions and various IP applications to residential, small and medium businesses, home land security and public safety organizations, schools, local and state
governments, with a core focus on the hospitality, condominium, and planned community segments.
Winsted CEO Frank Manzo stated, "I am excited that we are beginning to execute our contemplated business plan and that the first Company to announce is one that has timely and exciting possibilities in the telecommunications field. MCOI has audited net assets of $2.0 million and has presented an exciting business plan to us. This is the first transaction for the Company and there are several other transactions currently being evaluated by the Company. This opportunity is directly related to our intention to broaden our business plan with respect to incubating emerging private companies thereby enhancing shareholder value."
Fred Grant, CEO of MultiCom One, Inc. commented, "I'm delighted to be working hand and hand with Winsted's management. Once the merger is complete, we will begin a rapid expansion of the Company's presence in various Telecom and Hospitality sectors".
Founded in 1998 the officers, principals and Board Members of MOCI have been in the forefront of the wireless and telecommunications industry since 1965, with significant senior management experience in a variety of Fortune 500
communications and technology sector companies." Mr. Manzo went on to state, "The Letter of Intent is conditional upon definitive agreements to be negotiated and I would hope that we can reach a final agreement in the near future."
Winsted Holdings Inc. intends to be a Leader in incubating and developing private companies ultimately spinning them off to shareholders and enhancing shareholder value in the Company. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward- looking statements generally can be identified by phrases such as WNSH or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import.
Similarly, statements in this release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward- looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
Contact:
Winsted Holdings, Inc. Northfield, Illinois Frank Manzo, CEO, 847-441-1822
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