Published: November 24, 2008
Broadspot World Wide Wireless Acquisition of Worldwide Communications Carrier-Grade Microwave Towers Should Aid in U.S. Department of Agriculture $2 Billion Funding Initiative
Broadspot World Wide Wireless (PINKSHEETS: BWWD)
has executed a definitive agreement to acquire forty ("40") carrier-grade
microwave towers originally constructed by AT&T and MCI, from Worldwide
Communications, Inc. The towers purchased, valued at $2,000,000, are part
of a 22 state network spanning the continent and are located in Tier III
markets. Broadspot intends to have joint venture arrangements with all of
the publicly traded companies acquiring towers in the network and in
connection with those joint venture arrangements will have immediate access
to all required products and services to deploy broadband Internet access.
This will enable Broadspot to acquire Motorola/Canopy equipment at carrier
level pricing.
The acquisition will contribute significant advantages in Broadspot's
application for funding from the U.S. Department of Agriculture RUS Funding
Program. The RUS Funding Program, approved by Congress in 2002, provides
for the issuance of more than $2 Billion in funding for the development of
broadband Internet services throughout America's Heartland.
The acquisition of "vertical real estate" is a critical component of our
plan to acquire existing Wireless Internet Service Providers (WISPs) and
provide low cost connectivity in conjunction with aggressive marketing and
additional value added services to build a significant customer base," said
Nyhl Henson, CEO of Broadspot.
About Broadspot World Wide Wireless, Inc.
Broadspot was founded for the purpose of acquiring existing privately held
cash flow positive WISPs in markets with little or no competitive broadband
availability to deploy fixed wireless broadband networks. The Company's
objective is to gradually convert existing dialup customers to broadband
service and deploy Voice Over Internet Protocol ("VoIP") telephony service
and made-for-Internet content.
About Worldwide Associates, Inc.
WWAI purchased the towers out of bankruptcy from Corban Networks and is
orchestrating the formation of a synergistic alliance of publicly traded
companies that will own and operate the nationwide network. All of the
companies participating in the joint venture agreement are actively
involved in the deployment and/or support of wireless broadband Internet
services.
Forward-Looking Statements
This release includes "forward-looking statements" from the Company that
may or may not materialize and recipients are cautioned not to place undue
reliance upon them. These forward-looking statements are subject to a
number of known and unknown risks and uncertainties outside of our control
that could cause actual operations or results to differ materially from
those anticipated. It is important to note that actual results could
differ materially from those in such "forward-looking statements" and
"forward-looking statements" are inherently subject to risks and
uncertainties. We assume no obligation to update any written or oral
forward-looking statement made by us or on our behalf as a result of new
information, future events or other factors.
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