Published:
Wi-Fi TV Retires Bristol Convertible Debt Prior to Wi-FiChina.com Launch
$100,000 Payment Made on October 29, 2007 as Wi-Fi TV Also Prepares for U.S. Launch of New Web Site
Following up on its previously announced
plans to reduce the convertible debt financing that pertains to Bristol
related funds, Wi-Fi TV Inc. (PINKSHEETS: WTVN) paid $100,000 toward the
retirement of this debt on October 29, 2007 and will fully retire the
Bristol related debt within thirty days. Bristol related convertible debt
has made up an increasingly smaller amount of Wi-Fi TV's total debt over
the past year. In addition, Wi-Fi TV announced that it is on track to
achieve the following prior to the end of 2007:
1) The U.S. launch of its completely redesigned Wi-Fi TV web site.
2) The launch of Wi-FiChina.com, which follows recent visits to China by
Wi-Fi TV including participation in the BIRTV 2007 Show and iHollywoodChina
2007 forum.
3) The launch of a completely new Wi-FiTVPhone(TM) virtual dialer,
powered by AdCalls®, which will now become a revenue source based on
minimum $10 prepaid local, long distance and global calling plans.
About Wi-Fi TV
Wi-Fi TV(TM) is a pioneer of TV on the Internet. Wi-Fi TV Inc. has long
touted the coming convergence of TV and the Internet, and provided the
first online movie in December 1995. The Wi-Fi TV website (www.Wi-FiTV.com)
is the only place on the Internet where you can watch hundreds of TV
stations and chat with others watching the same program in a live chat box
directly under the viewing screen, and get breaking news for each country
and category listed, and download a dialer and make free phone calls and
host live video parties all on one website.
Wi-Fi TV Inc. provides Social Internet TV(TM), a new generation TV delivery
platform that has a geographic sphere out-distancing any traditional cable
or over-the-air TV broadcaster. Wi-Fi TV memberships are free at
www.Wi-FiTV.com and include such perks as free online phone calls and free
chat and free online parties.
For press relations for Wi-Fi TV call 949-716-9397. Wi-Fi TV Inc., 3434 Via
Lido #300, Newport Beach, CA 92663, info@wi-fitv.com
The Company was launched in 1995 and has been publicly traded since
November 1997, and has been a pioneer in the delivery of video and books
over the Internet.
Forward-Looking Statements
Any statements made in this press release which are not historical facts
contain certain forward-looking statements; as such term is defined in the
Private Security Litigation Reform Act of 1995, concerning potential
developments affecting the business, prospects, financial condition and
other aspects of the company to which this release pertains. The actual
results of the specific items described in this release, and the company's
operations generally, may differ materially from what is projected in such
forward-looking statements. Although such statements are based upon the
best judgments of management of the company as of the date of this release,
significant deviations in magnitude, timing and other factors may result
from business risks and uncertainties including, without limitation, the
company's dependence on third parties, general market and economic
conditions, technical factors, the availability of outside capital, receipt
of revenues and other factors, many of which are beyond the control of the
company. The company disclaims any obligation to update information
contained in any forward-looking statement. Wi-Fi TV and Social Internet TV
are trademarks of Wi-Fi TV Inc. and all rights pertaining to these names
are reserved. This press release shall not be deemed a general
solicitation.
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