Seesmart Technologies Inc (fka SEST)

[Pure_Greatness]

This is a impressive read.

http://www.businesswire.com/news/home/20101206005800/en/OneFi-Technology-Receives-Financing-Commitment

December 06, 2010 08:00 AM Eastern Time
OneFi Technology Receives Financing Commitment
LOS ANGELES--(BUSINESS WIRE)--OneFi Technology, Inc (Pink Sheets: ONFI) has received a substantial financing commitment from Dr. Fahad al-Malik of Saudi Arabia. The total commitment is for $20,000,000 which will be funded in two stages. The definitive terms of the financing are still being negotiated however the commitment provides for an initial $2,000,000 of direct equity financing with the balance to be invested in joint venture projects under the direction of Chet Noblett, OneFi’s Chief Executive Officer. The initial funding is expected to close just after the New Year with the balance of the funds to be invested over a period of twelve months beginning in the second half of 2011.

“The project in Saudi is a tremendous opportunity and requires significant financing. I am delighted that we have received this commitment from Dr. al-Malik. It is a testament to our efforts in the region”
.Dr. Fahad al-Malik has been a strong supporter of the Company’s efforts in Saudi Arabia where OneFi is working on a project to rollout a scalable next-generation network infrastructure capable of delivering high-speed broadband WiMax and IPTV. “The project in Saudi is a tremendous opportunity and requires significant financing. I am delighted that we have received this commitment from Dr. al-Malik. It is a testament to our efforts in the region,” said Mr. Noblett who expects to be in the region over the next several weeks to complete the definitive terms of the funding agreements.

About OneFi Technology, Inc.

OneFi Technology Inc. is an IPTV solutions provider and company which develops broadband networks that are capable of 4G compatibility. OneFi Technology’s focus is on rural communities and developing countries which lack infrastructure. Both WiMax and LDE are wireless technologies for the delivery of broadband internet signal that allows for VoIP, IPTV and general internet use.

For Additional Information, Go to the Website: www.onefitechnology.com
This press release contains certain "forward-looking statements" within the meaning of federal securities laws including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions. Although the Company believes that the statements were reasonable when made, these forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.