Published: July 30, 2010
US Wireless Online, Inc. (UWRL) Reports Second Quarter Financials and Addresses Pressing Issues
US Wireless Online, Inc. (PINK SHEETS: UWRL) www.uswirelesscorporation.com%2F&sa=D&sntz=1&usg=AFQjCNF5ESEqnv6XlR7UXKjec36TC9YHoA">(www.uswirelesscorporation.com) is pleased to disclose the financial statements of Go Green Electronic Recycling for the January 1 - June 30, 2010, period, and address several issues that had surfaced with the investor community.
By the end of Q2, the company had not realized any revenue, and posted a net income loss of $11,000 USD. The company did not expect to accrue positive revenues at this time, since Go Green Electronic Recycling is a start-up phase company. With regards to subsequent quarters, as Go Green Electronic Recycling recently signed a major e-waste distribution agreement with a Nigerian phone company that will involve the collection and shipping millions of units, the company anticipates a move towards growth and accelerating revenues.
In other company news and updates, although the company has a policy not to comment on lashing out of its critics (stock bashers), the company comments the following rumors circulating on UWRL are unfounded, untrue and easily explained:
1) Investors cannot find a business license for UWRL in Florida, because UWRL is a holding company, operating and incorporated in the State of Maryland. The company is filing for business license with the Florida Department of State (Sunbiz) presently.
2) The Company noticed a rumor that claims that there is no operation at the company's present address. The company dismisses this claim as unfounded a fully manufactured. The company invites its shareholders to visit the facilities at their convenience.
3) Some online presences claim that there is no answer when trying to reach the company. The management informs the public, that the opposite is the truth. The company received multiple phone calls without answer on the other end of the line.
By this statement the management informs the public, that it wishes to focus on its business, and that going forward will not accept any investor phone calls and refers all inquiries to its IR representative Mina Mar Group at 1-647-426-1640.
About Mina Mar Group:
Mina Mar Group pioneered the "Go Public Free" program, the first firm to challenge the short sellers, stock bashers and repeal of the "Communication Decency Act". Visit www.minamargroup.com/ice to learn more.
Mina Mar Marketing Group, MMMG (www.minamargroup.net) offers publicly traded companies full array of services such as Investor Relations and maintenance investor awareness.
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Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of US Wireless Online, Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. US Wireless Online, Inc. cautions you that any forward-looking information provided by or on behalf of US Wireless Online, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. US Wireless Online, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond US Wireless Online, Inc.'s control. In addition to those discussed in US Wireless Online, Inc.'s press releases, public filings, and statements by US Wireless Online, Inc.'s management, including, but not limited to, US Wireless Online, Inc.'s estimate of the sufficiency of its existing capital resources, US Wireless Online, Inc.'s ability to raise additional capital to fund future operations, US Wireless Online, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match US Wireless Online, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. US Wireless Online, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
CONTACT:
Investor Relations:
Tel: 1-647-426-1640; www.minamargroup.net/helpdesk, Investor Relations Department Inquiry, www.minamargroup.net (IR), for (M&A) and Corporate Matters, www.minamargroup.com
SOURCE: US Wireless Online, Inc.
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