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post S8 play Posted by: eztradin
In reply to: None Date:5/19/2004 1:44:53 AM
Post #of 15837

Here's the RWNT merger news from May 4th.

Reality Wireless Networks (OTCBB, 'RWNT') Receives Additional $200,000 Bridge Funding
Tuesday May 4, 12:10 pm ET


CAMPBELL, Calif., May 4 /PRNewswire-FirstCall/ -- Reality Wireless Networks (OTCBB: RWNT - News), a wireless broadband services provider announced today that it had received an additional $200,000.00 in preferred equity financing from an existing investor group. Citing positive response to its newly launched wireless broadband joint venture with IElement, Reality Wireless Networks, will apply the majority of the funds to its wireless network development efforts with IElement. IElement of Marina Del Ray, California is a privately held national communications services provider which is currently earning annual revenues of approximately $7,000,000 and earning approximately $500,000 in operating income. As previously announced, IElement and Reality Wireless Networks are in the process of completing their merger.


Following the completed merger, I-Element intends to roll out the Reality Wireless solution in the Los Angeles, San Diego, Las Vegas, Phoenix, Atlanta, Miami, and Dallas markets in the coming 18 months.

About Reality Wireless Networks (http://www.realitywirelessnetworks.com )

Reality Wireless Networks offers broadband wireless services through hybrid networks including fixed wireless, 802.11, and fiber to markets either underserved or not served by DSL and cable modem technologies. Currently operational in California, the company has targeted markets including residential, SOHO, and multi-unit apartment complexes across the country. At the corporate level, Reality Wireless Networks is actively pursuing an acquisition.





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EZ