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Star Gazer do you know if this R/S occured already? http://tinyurl.com/8ztgf I see this... From 10Q dated 8/31/05: "On May 18, 2005 the Board of Directors of Reality Wireless authorized a one-for-four hundred stock split of the Reality Wireless common stock. On May 27, 2005, stockholders of record received one share for every four hundred shares of common stock held of record on May 27, 2005. The stock split has been reflected retroactively in the accompanying financial statements, and all applicable reference as to the number of common shares and per share information has been restated."
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This may have been posted elsewhere already...
Reality Wireless Networks Restructures Merger Agreement with Genesis Electronics
GIG HARBOR, Wash.--(BUSINESS WIRE)--April 21, 2005--Reality Wireless Networks Inc. (OTCBB: RWLN - News; "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 Vodafone, 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."
About Reality Wireless Networks Inc.
Reality Wireless Networks, Inc., a publicly-traded Nevada corporation, previously offered broadband wireless services through hybrid networks including fixed wireless, 802.11, and fiber to markets either underserved or not served by DSL and cable modem technologies. Reality has shifted focus to seek growth opportunities in the wireless marketplace and related product industries.
More information about Reality Wireless Networks, Inc., can be found at http://www.sec.gov.
This press release may contain "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) the company's limited operating history; (2) the company's ability to pay down existing debt; (3) the company's ability to retain the professional advisors necessary to guide us through our corporate restructuring; (4) the company's ability to secure necessary financing; (5) potential litigation by shareholders and/or former or current advisors against the company; (6) the potential inability of the company to have a registration statement declared effective; (7) the company's success in securing third-party manufacturing and/or service contracts; (8) the company's ability to comply with federal, state and local government regulations and/or unforeseen changes in federal or and government regulation; and (9) the risks inherent in the investigation and consummation of the acquisition of a new business opportunity or other factors over which we have little or no control. Reality Wireless Networks Inc.
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GIG HARBOR, Wash., Sep 20, 2005 (BUSINESS WIRE) -- Arabian Recab Trading Co. ("Recab International"), which merged with Reality Wireless Networks, Inc. (OTCBB:RWNW) ("Reality") on July 21, 2005, announced a dramatic increase in revenues for the quarter ending June 30, 2005.
Revenues for that quarter were 28,561,072 Saudi Riyal (approximately $7.6 million USD). This represents an increase of over 300% in revenues from the previous quarter (ending March 31, 2005).
In addition, Recab International announced that the months of July and August also saw significant revenue growth. For the two months ended August 31, 2005, Recab International generated 26,615,527 Saudi Riyal (approximately $7.1 million USD). This suggests that Recab International should see an increase of more than 135% in revenues from the June 30 to September 30 quarter.
These revenues do not include sales from Recab International's telecommunications business (as announced on September 13) or granite and quarrying business (as announced on September 6).
About Reality Wireless Networks, Inc.
Reality Wireless Networks, Inc., a publicly-traded Nevada corporation, previously offered broadband wireless services through hybrid networks including fixed wireless, 802.11, and fiber to markets either underserved or not served by DSL and cable modem technologies. Reality has shifted focus to seek growth opportunities in the wireless marketplace and related product industries (ir@realitynetworks.com). More information about Reality Wireless Networks, Inc. can be found at www.sec.gov.
NOTE: Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks or uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the operating results, performance or financial condition are the company's ability to achieve and manage growth; the company's ability to successfully identify suitable acquisition candidates, complete acquisitions or integrate the acquired business into its operations; the company's ability to attract and retain qualified personnel; the company's ability to secure necessary financing; potential litigation by shareholders and/or former or current advisors against the company; the company's success in securing third-party commitments, production agreements and/or licensing contracts; the company's ability to comply with federal, state and local government regulations and/or unforeseen changes in federal or and government regulation; and the company's ability to develop new services; and other factors discussed in Reality's filings with the Securities and Exchange Commission.
For further information, please contact Steve Careaga at 253-853-3632, or send correspondence to 4916 Point Fosdick Dr., Suite 102, Gig Harbor, WA 98335
SOURCE: Reality Wireless Networks, Inc.
Reality Wireless Networks, Inc. Steve Careaga, 253-853-3632
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GEEZZZ. I just got up took a shower and looked up RWNW. Whoa! Was .0032 bid ask ..0032/.0033 Quickly put in a buy at .0033 looked at bid ask .0033/.0034 I wasn't going to let get awayfrom me again. Put in a buy at .0035, looked and it was .0034/.0035. That sucker was moving. Tried .0037 looked: .0036/.0037 Tried .0040 and got it. Just for the heck I immediately relooke at the bid/ask and it was already .0040/.0042. I've never seen a stock move so fast.
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OK, I'm out at 0038, GLA! I probably will regret when it shoots up passed 50, but I'v been in this one for soo long, its nice to finally see some profit. GLA hope it runs further for you!
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Vlad4, I may sell some at .50 That would be a nice profit. I know that some people bought it a lot higher than that. I originally bought it before the 400:1 reverse split. When they announced that they were going to do the reverse split I got out. Bought back in at a post-split price of .0035 and watched it go to .0009, but has recovered nicely since then. I know one poster that didn't sell before the 400:1 reverse split. It will have to go well above .50 for him to make a profit. Hopefully he will end up with a profit. Actually, I will wait until after the merger finally takes place and then see what happens. 134 million shares traded so far today. Somebody is buying big time.
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I am new to RWNW, in well after the split, and I want to see what happens here. I will most likely wait until at least after the merger as well.
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Seems to be stuck at 55% ..... still works for me
-------------------- You can learn many things from children.......... How much patience you have, for instance. Wealth and children are the adornment of life. I have 5 children and 32 day care children now working on the wealth part. heheheh
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