News for 'MDGC' - (MediaG3 Finalizes Definitive Agreement on LOI to Secure Funding for Wireless Broadband Build-outs)
Nov 16, 2011 (Close-Up Media via COMTEX) -- MediaG3, Inc., a provider of
wireless broadband solutions, has completed the Letter Of Intent announced on
Sept. 20, with Competitive Companies, Inc. through a definitive agreement known
as "The Wytec Purchase Agreement."
According to a release, The Wytec Purchase Agreement will provide funding to
MediaG3 through the purchase of Wytec International, Inc., owner of five U.S.
"world class" patents directly involved in the development of carrier grade
mobile broadband delivery. "This agreement combines MediaG3's knowledge and
application of technology, 'proprietary' network design, engineering, software
and deployment with CCI's experience in wireless technology, funding,
management, back-office, customer and tech support," said CEO Val Westergard.
Westergard went on to say: "This agreement provides MediaG3 with funding,
retains use of patented technology, restores shareholder confidence and sets the
stage to grow revenue quickly as we deploy 'proprietary' networks throughout the
USA. This agreement creates a complimentary and mutually beneficial infusion of
talent and technology, bringing much greater potential value to both companies
and their shareholders. We are excited about the supportive and inter-dependent
relationship we now have with William Gray and his team at CCI."
MediaG3's network is on in selected areas in Boise and they expect to be
offering 4G+ services to the public by February 1, 2012. Wireless Wisconsin
expects to be offering the service in Eau Claire by March 1, 2012. Both
operations plan to be utilizing "carrier grade" authentication software enabling
full integration for most fixed and mobile devices. Thus both companies expect
to have rapid revenue development within months instead of years.
More information:
www.mediag3.com
www.cci-us.com
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