ASIQ ASiQ Signs Agreement for $10 Million in Swift Broadband Systems
Business Wire - October 18, 2006 9:01 AM (EDT)
SEATTLE, Oct 18, 2006 (BUSINESS WIRE) -- ASI Entertainment, Inc.'s (OTCBB:ASIQ) wholly owned subsidiary ASiQ Pty Ltd announced today that it has signed an agreement with Omnipless Pty Ltd, a subsidiary of Cobham plc's (LSE:COB) Antennas Division, to purchase 100 Chelton SATCOM dual channel swift broadband systems.
Ron Chapman, ASiQ's President, stated that "at the recent World Airline Association Exhibition in Miami we launched our new low cost connectivity solutions, incorporating the Chelton SATCOM satellite link. Following presentations with 33 major airlines, the overall response was very positive. The Chelton SATCOM system is significantly cheaper and exceptional value for money compared to its direct competitors, and combined with our technology, provides airlines with a total solution at a fraction of the cost of the previous Connexion by Boeing system. With the total system weighing less than 30Kg compared to Connexion by Boeing's system weight of around 350Kg, and our access fees from as little as a $1 and in some cases absolutely free, we believe that we have the ideal combination. It is anticipated that the first systems will be available in the second half of 2007."
About ASiQ
ASiQ provides the most affordable in-flight connectivity solution for passengers and crew and is recognized for its innovative and cost effective solutions for airlines. ASiQ has contracts with Saudi Airlines and AirOne. ASI currently has operations in Australia, Malaysia, USA and has plans to open operations in Europe and Middle East.
About Cobham
Cobham plc is an international company engaged in the development, delivery and support of advanced aerospace and defence systems for land, sea and air platforms. The company has five technology divisions and one in the service sector that collectively specialise in the provision of components, sub-systems and services that keep people safe, improve communications and enhance the performance of aerospace and defence platforms.
Safe Harbor Disclosure:
Certain statements contained in this press release and periodic reports issued by ASI Entertainment, Inc., (ASIQ) (the "company"), that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are statements regarding the intent, belief, or current expectations, estimates, or projections of the company, its directors, or its officers about the company and the industry in which it operates and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the company's strategies regarding growth and business expansion, including future acquisitions; (b) the company's financing plans; (c) trends affecting the company's financial condition or results of operations; (d) the company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the company's ability to respond to changes in customer demand and regulations. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", and similar expressions are generally intended to identify forward-looking statements.
Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix, and the geographic mix of sales.
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SOURCE: ASI Entertainment, Inc.
ASI Entertainment, Inc.
Ron Chapman, +61 3 9437 1233
ron.chapman@asiq.com
www.g3cars.com
www.asiq.com.
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