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current filings with the SEC within approximately ninety days, applying for its OTC Bulletin Board listing and maintaining a ``fully reporting'' status thereafter. While its ability to meet that schedule depends on a number of factors, many that are beyond its control, the Company has taken steps to achieve this objective. In the meantime, it is adopting a ``news blackout'' policy until the public filings are made, during which time it will make very few, if any, additional public statements.
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NEWPORT BEACH, Calif., Feb 25, 2005 (PRIMEZONE via COMTEX) -- Wi-Fi TV Inc. (Pink Sheets:WFTV) announced today that it has secured commitments for another $2 million in convertible debt financing on February 25, 2005, bringing the total of such financing to $2.3 million since December 30, 2004. On December 30, 2004 the Company received $300,000 in convertible debt financing. As a use of the financing proceeds, Wi-Fi TV Inc. (the "Company") has retained legal counsel, accountants and an auditor with the intent of becoming a "fully reporting" company and applying to regain its former OTC Bulletin Board listing.
The Company anticipates that it will receive a traunch of $300,000 within a few days and monthly traunches of $100,000 thereafter, which with expenses will total $2.0 million dollars upon completion of the funding. The investment, from an institutional investor, is exempt from the registration requirements of the Securities Act of 1933. The investment agreements will be included as attachments to the Company's periodic reports, when filed with the Securities and Exchange Commission (the "SEC").
The Company anticipates making current filings with the SEC within approximately ninety days, applying for its OTC Bulletin Board listing and maintaining a "fully reporting" status thereafter. While its ability to meet that schedule depends on a number of factors, many that are beyond its control, the Company has taken steps to achieve this objective. In the meantime, it is adopting a "news blackout" policy until the public filings are made, during which time it will make very few, if any, additional public statements.
About Wi-Fi TV Inc.
Wi-Fi TV, Inc. has a history of innovation in online content delivery and plans to quantify the value of this unique experience now that high-speed Internet delivery is becoming available to millions of consumers around the world. Wi-Fi TV Inc. is creating the first online television network (http://www.wi-fitv.com). The Wi-Fi TV homepage currently features online video interviews regarding the latest in consumer electronics.
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 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. These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievement expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "intend," "expects," "plan," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of such terms or other comparable terminology. Although we believe that the expectations reflected in the forward looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such statements. This press release shall not be deemed a general solicitation.
SOURCE: Wi-Fi TV Inc.
-------------------- "The Americans will always do the right thing... After they've exhausted all the alternatives." - Winston Churchill
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it means they should be fully reporting and move from the pink sheets to the otcbb when they make thier next big announcement when you add in its history(HUGE price jumps every 3 months) with that news and the fact that itll be off the SHO at about the same time this thing is gonna BURST like nothing youve ever seen
-------------------- "The Americans will always do the right thing... After they've exhausted all the alternatives." - Winston Churchill
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lots of covering of shorts today, that SHO list wont include WFTV in the very near future
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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Jugding from the beneficial ownership statement im getting a number of about 81 million. (report dated Feb 25, 05)
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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Kanakaris and insiders own 6.6 mill or about 8%
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welcome back capt! all buys this morning, hoping those shorts are over
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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Wow. They ripped out the bottom with a couple sells and now with the buys coming back they won't even raise the ask back. In fact I just bought and they downticked the ask. Unbelievable. Why are they sitting so hard on this?
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they shorted this waaaay too much, just trying to cover before they cant hold it back any longer when some big news hits
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posted
look at the volume in the past few days, def covering going on, real rush to get it off the SHO list in my opinion
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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to see how short they are, i put in a 80K buy, would fill at 18 waited 10 min at 19 before fill, after these shorts are done this will jet, buying more of this monday
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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stupid etrade probably...either way, picked up some more shares and it bumped the price lol
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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there is a ton of shorts,supised not moving like it should, even with blakout.o/s are good so the downtick is the mm trying to keep it down if there was enough confidence in buyers this thing should be soaring much higher than this.but is only matter of time within 2 weeks according to a little birdie.nice post drew
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hey cap< i called that guy you told me too and i think your right, thought you were kidding when you said that about wftv.looks good it is so undervalued right now too!thanks again SENSEI!LMAO
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