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Author Topic: RWLNE
Jonathanlb8
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GIG HARBOR, Wash., Apr 21, 2005 (BUSINESS WIRE) -- Reality Wireless
Networks
Inc. (OTCBB: RWLN)("Reality"), announced today that it has completed
negotiations with its merger partner, Genesis Electronics ("Genesis"), to
restructure the proposed merger agreement between Reality and Genesis.
Under the
new agreement, Genesis will be merged into a wholly- owned subsidiary of
Reality, which will assume certain assets and liabilities of the parent
corporation. Following the merger, the combined company will assume the
name of
Genesis Electronics, Inc., and file a registration statement registering
Reality's ownership interest in the combined company's shares. It is
expected
that the shares will be distributed on a pro-rata basis to shareholders of
Reality at the time that the registration is deemed effective. This
opportunity
for shareholder's of Reality to participate in the equity-ownership of two
entities arises from Reality's recent discussions with several unrelated
entities that seek various business combinations with Reality. Reality
expects
to enter into a letter of intent with one of these entities within the
next
several days.

Genesis previously announced that it has received a Purchase Order for
$2.7
million from Digital & Wireless Group, Inc., an International Marketing &
Information Services, Inc. company, for the "SunBlazer", a mobile
electronic
power holster with patented technology for cell phone users. The companies
have
worked together through R & D efforts, prototype review and market
research
efforts to develop this initial Purchase Order. Digital & Wireless Group,
Inc.
http://www.digitalwirelessgroup.com is a leading specialist in laptop
computer
and mobile communication accessories with over twelve years experience and
more
than 2,000 business and retail customers worldwide. This order will
include
"SunBlazers" for use with Nokia, Sony-Ericsson and Motorola cellular
phones.
Genesis expects future orders to include units for LG, NEC, Samsung,
Sharp,
Siemens, Panasonic and Toshiba phones.

In connection with the revised merger plan, and prior to filing the
registration
statement, Genesis intends to secure financing sufficient to support its
overseas manufacturing arrangements and expansion of its sales efforts
with
worldwide wireless carriers such as Vodaphone, Cingular and Orange.

Steve Careaga, CEO of Reality, noted, "We are very excited about
restructuring
our merger agreement with Genesis. By virtue of this modification,
shareholders
of Reality will participate in the upside of Genesis and have the
opportunity to
participate in the upside potential of one or more additional merger
candidates."

Posts: 839 | From: Lynn, MA | Registered: Jan 2005  |  IP: Logged | Report this post to a Moderator
dellamorte dellamore
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oh man , this one already had it's run yesterday , topped out at around .003 , just watch out
Posts: 734 | From: Nassau County | Registered: Jan 2005  |  IP: Logged | Report this post to a Moderator
Ric
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I would play this one carefully. They love selling shares for a living.

1)Did a reverse split of 100:1 on the April 10th

2)S-8 dilution of 105 million shares on 13th

3)unregistered sale of 60 million on 14th

4)Voted to have up to a 400:1 r/s in future on the 15th

--------------------
Invest with your brain not with your heart.

Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004  |  IP: Logged | Report this post to a Moderator
   

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