|
| Company
Information |
| Name: |
|
Koala
International |
| Exchange: |
|
OTCBB |
| Symbol: |
|
KIWI |
| Last
Price: |
|
1.80 |
| Outstanding: |
|
12.5MM |
| Float: |
|
6.0MM |
| High/Low: |
|
1.34
- 4.00 |
|
|
Koala
International Wireless Announces Requirements Met for
Acquisition of Route1™ Corporation
April 18, 2002.
Toronto, Ontario.
Koala International Wireless, Inc.
Koala International Wireless, Inc. (OTCBB: KIWI) a Mobile
Virtual Private Network Operator "MVPNO" and developer
and consolidator of web-based, wireless network applications,
announced today that requirements for the acquisition of all of
the assets of Route1 Corporation have been met. Koala has begun
the formal closing process and will acquire 100% of the assets
of Route1 in exchange for 750,000 restricted shares of Koala.
Route1 is a
next-generation financial transaction processing company. The
Company's proprietary encrypted messaging platform, Route1
Accelerator™, facilitates the delivery of a wide range of
business solutions - quickly, securely and cost-effectively.
Accelerator applications include Internet-enabling of Automated
Banking Machines (ABM/ATMs) for financial institutions, POS
systems for retail payment locations, infrastructure for
Application Service Providers (ASPs) and delivering secure
transaction services to the wireless sector.
Andrew White,
President and CEO of Route1, will join Koala as a senior
executive and acting Chief Information Officer. Mr. White
stated, "I am very enthusiastic about the formal
integration of Route1 technology into the Koala family. Route1's
technology, integrated with the Koala Network and technology
platform, strengthens and confirms Koala's security, encryption
and transaction management capabilities and enables us to
deliver highly-functional innovation to electronic payment
processes."
Michael
Johnston, President and co-founder of Koala, added, "The
acquisition of Route1 significantly strengthens Koala's
technology platform and expertise relating to financial
transaction management. The addition will enable Koala to
complete key elements of its Mobile Virtual Private Network and
serve to support Koala's products and services as defined in our
business model."
About Koala
International Wireless, Inc.
Koala International Wireless, Inc., develops and provides
next-generation wireless communication, information and
entertainment products and services. Koala is assembling and
integrating a virtual network and applications platform that
uniquely positions the Company to capitalize on several existing
and complementary market opportunities. By aggregating and
consolidating the available infrastructure of existing cellular
carriers, Koala is building a Mobile Virtual Private Network (MVPN)
that enables the KIWI, Koala's next-generation personal
communications device, and other wireless devices, to access the
Internet and other services. The applications platform developed
by Koala incorporates state-of-the-art encryption and data
compression techniques that will ensure secure, real-time data
transmission throughout the network. These capabilities will
allow Koala to provide network server-based data, voice and
media communications, e-Banking, entertainment, information and
service applications directly to its targeted subscribers on a
portable, hand-held unit. Koala's MVPN and applications
capabilities create a number of opportunities for the Company to
exploit underserved and/or emerging markets. Initial targets for
Koala include the upgrade of fixed-base (wired) Point of Sale
(POS) systems to a more efficient wireless system for the
restaurant, hospitality, and entertainment industries, ATM/ABM
connectivity applications, international remittance and entry
into the PDA/personal communications device market with the
KIWI, a superior device with a price substantially less than
other products currently available.
Forward
Looking Statement.
Safe Harbor: Statements contained in this news release, which
are not historical facts, are forward-looking statements as that
are defined in the Private Securities Litigation Reform Act of
1995. Such forward-looking statements are subject to risks and
uncertainties, which could cause results to differ materially
from those projected. This news release contains forward-looking
statements within the meaning of the Private Securities
Litigation Reform Act of 1995 (the ``ACT''). In particular, when
used in the preceding discussion, the words ``plan,''
``confident that,'' ``believe,'' ``expect,'' ``intend to'' and
similar conditional expressions are intended to identify
forward-looking statements within the meaning of the ACT and are
subject to risks and uncertainties, and actual results could
differ materially from those expressed in any forward-looking
statements. Such risks and uncertainties include, but are not
limited to, market conditions, competitive factors, the ability
to successfully complete additional financings and other risks.
All material
herein was prepared by Capital Research Group, Inc. (CRG) based
upon information supplied by the company or other sources
believed to be reliable. The information contained herein is not
guaranteed by CRG to be accurate, and should not be considered
to be all-inclusive. The companies that are discussed in this
opinion have not approved the statements made in this opinion.
This opinion contains forward-looking statements that involve
risks and uncertainties. A company's actual results could differ
materially from those described in any forward-looking
statements or announcements discussed herein. This material is
for informational purposes only and should not be construed as
an offer or solicitation of an offer to buy or sell securities.
CRG is not a licensed broker, broker dealer, market marker,
investment banker, investment advisor, analyst or underwriter.
Please consult a broker before purchasing or selling any
securities. CRG has been compensated by third party shareholders
or with cash from the company on behalf of one or more of the
companies mentioned in this opinion. CRG has been
compensated 100,000 shares. CRG has sold 1,000 shares.
CRG may sell its shares for less than the target
price given in this opinion. CRG's affiliates, officers,
directors and employees may also have bought or may buy the
shares discussed in this opinion and may profit in the event
those shares rise in value. CRG will not advise as to when it
decides to sell and does not and will not offer any opinion as
to when others should sell; each investor must make that
decision based on his or her judgment of the market.
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