posted
Important milestone for IPKL imo. Always do your own dd. iPackets International, Inc. Receives Naming Approval for the Joint Venture in China Nov 2, 2006 1:17:00 PM VANCOUVER, BC -- (MARKET WIRE) -- 11/02/06 -- iPackets International, Inc. ("iPackets") (PINKSHEETS: IPKL), a developer and provider of wireless communications software and equipment for the mining industry, announced today that the name for the Chinese Joint Venture ("JV") has been approved by the Chinese Central government. The name of the JV will be GuoAn Mining Communication Equipment Co., Ltd. (GuoAn translates to National Safety). The JV partners will be iPackets, the China Coal Information Institute, and the Henan Yongan Investment Guarantee Company, Ltd. The JV will be the entity that manufactures and markets the iPMine solution, which focuses on mine-safety for personnel and equipment in China.
Two of iPackets' senior management team will shortly travel to China to conduct a series of business and technical meetings. The focus will be on the manufacturing process, product certification, the JV business, and establishing the sales and marketing in China. In addition, iPackets will participate in an excellent opportunity for the JV to present the iPMine product to the Chinese product certification board authority.
IPackets' President and CEO, Mr. Naiel Kanno, commented: "The progress being made for the iPackets JV in China is on schedule and will continue to move forward as fast as possible to meet the demands in the Chinese mining industry."
Posts: 660 | From: california | Registered: Nov 2005
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iPackets Signs a 3-Way Partnership to Deliver All-in-One Wireless Mine Safety Offering for the U.S. Mining Industry Monday April 23, 9:46 am ET
VANCOUVER, BC--(MARKET WIRE)--Apr 23, 2007 -- iPackets International, Inc. ("iPackets") (Other OTC:IPKL.PK - News), a developer and provider of wireless communications software and equipment for the mine-safety industry, is pleased to announce that it is partnering with AFL Network Services' Enterprise Division, and Kentucky-based Mainline Communications ("Mainline") to deliver an all-in-one comprehensive wireless mine-safety offering for the U.S. mining industry, which will be tailored and configured to meet each client's needs. ADVERTISEMENT
The U.S. offering, branded as Mine-1-1, will be powered by iPackets' iPMine mine-safety product, AFL Network Services' MobileNet(TM) product, network design, and integration, and Mainline's sales and marketing expertise, communications installation and deployment services. Mainline is also the exclusive distributor for AFL Network Services' MobileNet(TM) product in the mining industry.
"This partnership between iPackets, AFL Network Services' Enterprise Division and Mainline is truly unique in the mine-safety industry since it provides clients with the best of breed solutions encapsulated in a single offering," says Naiel Kanno, president and CEO for iPackets. "We are delighted to enter the U.S. market with AFL Network Services' Enterprise Division and Mainline."
"This partnership provides a one-of-a-kind solution to the mining industry," stated Miner Lawrence, Director of Program Management & Advanced Solution Systems for AFL Network Services' Enterprise Division. "We are pleased to partner with iPackets and Mainline and look forward to implementing this solution in the very near future."
AFL Network Services' MobileNet(TM) product allows end users to extend their network to virtually any remote location that may otherwise be geographically impossible to get to, or be used as part of a disaster recovery solution. Recent subterranean wireless tests, both 802.11 and 900 MHz, have been performed and shown to produce successful results.
Michael Fox, a principal owner of Mainline, expressed the importance of the products and services the partnership is offering, stating that, "Since our company is headquartered in Eastern Kentucky, an area where the mining industry has historically been prevalent, we are acutely aware of the urgent need to improve mine safety, specifically in the areas of tracking, monitoring and communicating with underground miners. Our geographic advantageous location and relationships with decision makers in the mining industry provides us with unique opportunities to market and deploy this solution effectively and efficiently. Most importantly, we are very proud to be part of a solution that will improve safety conditions in mines and will most certainly save lives in the future."
About AFL Network Services
AFL Network Services' Enterprise Division, is headquartered in Charlotte North Carolina, and is a wholly owned subsidiary of Japanese conglomerate Fujikura, Ltd. AFL Network Services, with 35 field offices in the U.S. and over 1300 employees, provides telecommunications installation and maintenance services in the enterprise, wireline and wireless markets. For more information on Fujikura, Ltd., visit www.fujikura.co.jp. For more information on AFL Network Services, visit www.AFLnetwork.com. For more information on the MobileNet(TM) product, visit www.AFLmobilenet.com.
About Mainline Communications, Inc.
Kentucky-based Mainline Communications specializes in mine-safety and telecommunications solutions throughout the United States. Through its partnerships, Mainline tailors these solutions to prospective clients. For more information, visit www.mainlinecomm.com.
About iPackets International, Inc. and iPMine
iPackets International is a developer and provider of wireless communications software and equipment for the global mine-safety industry. iPMine, the company's flagship product designed to significantly improve the safety of miners and equipment, is a real-time two-way wireless communications solution that tracks, monitors, and communicates with miners and equipment underground and above ground. For more information, visit www.ipackets.com.
Certain statements included in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations.
Contact: Contact: Mr. Naiel Kanno President and CEO 1 (778) 328-9005
posted
Weekly MACD is nearing breakout as well as the Strength Index is showing a Bullish trend, so IMO this week could show us good growth signs. One good thing about the CEO is he doesn't fluff us up with umpteen PR's like many do. Just valid and substantial info. I have been hanging on to this one for qiute some time at this level, even through its halt, but since that got cleared up, all we can do is wait for it to get off the greys.
We can only see. Buying pressure is looking swell, or should I say swelling.
I already sent info to Ron/PBLS on iPKL, who know's I did say no response required as I don't want to get directly into their busz.
What I keep wondering is why would a $5billion Dollar Company (fujikura) allow a company as small as iPKL to be associated with them,even if it through a sub, unless there really is something to it.
As far as someone investing in someone, I went to the fujikura web site and saw where they bought/invested in a small company last october. So, I would think iPKL would be prime meat.
Also, did anyone see the mainlinecomm com web page where they are adding Ipkl and under new construction.
Maybe, Just maybe... But this thing runs to .05 we all make a bundle.
Also, i think they will be getting on the Pinks again before another big run and or announcment, at least I hope so.
iPackets Announces the Signing of Its Chinese Joint Venture Agreement
Jan 16, 2007 9:45:00 AM
VANCOUVER, BC -- (MARKET WIRE) -- 01/16/07 -- iPackets International, Inc. ("iPackets") (PINKSHEETS: IPKL), a developer and provider of wireless communications software and equipment for the mining industry, announced today the signing and completion of its Chinese Joint Venture ("JV") agreement with Henan YongAn Investment Guarantee Co., Ltd. ("YongAn"), and China Coal Information Institute ("CCII"). The JV will operate under the name GuoAn Mine Safety Communication System, Inc. ("GuoAn").
GuoAn will be responsible for the manufacturing, distribution, sales, marketing, installation, deployment, and support of iPackets' iPMine solution to the mining industry in China. The operation will be based in the Province of Henan, China's second largest coal producing province.
GuoAn's initial registered capital will be $12 million with an option to be increased to up to $30 million. YongAn will contribute $7.2 million for 60% of GuoAn, CCII will contribute $1.2 million for 10% of GuoAn, and iPackets will contribute its iPMine intellectual property, technology, and know how for 30% of GuoAn valued at $3.6 million. GuoAn will be fully supported by the government of the Province of Henan through its contribution of over two acres (10,000 square meters) of land to build and outfit a world-class manufacturing facility in Jiaozuo City, Henan, China.
iPackets' President and CEO, Mr. Naiel Kanno, commented: "This is a major accomplishment for iPackets. China is one of our most important international markets, and the creation of GuoAn is crucial to our growth strategy. We will move forward quickly with sales and marketing activities to capture a significant share of the mine-safety market in China."
YongAn's Chairman, Mr. Sun Yulin, commented: "The JV agreement represents a significant milestone for YongAn's strategy of focusing on the mine-safety industry in China. After considerable research of mine-safety technologies, we are pleased to have selected iPackets as a partner with their true 2-way wireless mine-safety monitoring and tracking system."
CCII's President, Dr. Shengchu Huang, commented: "In February 2006, we established our working relationship with iPackets and we've always believed that their mine-safety technology is superior. We are pleased to have contributed by introducing YongAn to iPackets. We are confident that the new JV will expedite the entry of the iPMine technology into the mine safety in China."
Homersbud Member
Got some at 001. Liked the news!
001x0012 4x4
Posts: 1014 | From: Chicago | Registered: Oct 2005
lukin4winners Member
posted January 16, 2007 15:00
I liked the news also and the volume is huge 249M so far 3pm est. Looks like accumulation going on now . Would be nice to see some upward movement. Posts: 391 | From: california | Registered: Nov 2005
IamtheWalrus Member
posted January 16, 2007 15:05
Very good...nice chart IMO MACD is coasting along the breakout and with this news it could be a nice pop. Look at the last hard run it reached up to a penny. I just picked up a load, nice to be on board. GLTA
this stock is a gift imho 1 billion o.s and volume picking up look for a possible share buyback soon ..... Posts: 857 | Registered: Oct 2005 | IP: Logged |
lukin4winners Member
posted January 17, 2007 10:58
IPKL news and lod . Looks like .0008 is a nice entry here. Watching closely as macd is begining to turn up.iPackets Appoints Two Directors to the Board of Its Chinese Joint Venture GuoAn Mine Safety Communication System
Jan 17, 2007 9:45:00 AM
VANCOUVER, BC -- (MARKET WIRE) -- 01/17/07 -- iPackets International, Inc. ("iPackets") (PINKSHEETS: IPKL), a developer and provider of wireless communications software and equipment for the mining industry, announced today the appointment of two directors to GuoAn Mine Safety Communication System's board of directors.
The two directors representing iPackets on GuoAn's board of directors are Mr. Naiel Kanno and Mr. Kouros Goodarzi, iPackets' President and Vice President of Engineering, respectively. Mr. Kanno will also serve as GuoAn's Vice-Chairman.
Under the terms of the recently announced joint venture agreement, GuoAn's board of directors will be comprised of seven members: iPackets has two seats, YongAn has four seats including the Chairmanship, and CCII has one seat.
Mr. Kanno commented: "We look forward to working with our partners and board members. Our first goal will be to establish the management of GuoAn and ensure the initial tasks defined are followed through." Mr. Goodarzi added, "This is a great opportunity for us to steer the efforts of GuoAn towards minimizing the time to market and eventually maximize the profits of the stakeholders
m69jump Member
posted January 19, 2007 12:44
one to add to.......before it takes off jmo...
dacollecter Member
posted January 19, 2007 14:08
Originally posted by m69jump:
one to add to.......before it takes off jmo... I think you may be right. I am going to try to add .0007-.0008. I believe that this will be back over .001 soon.
Mine-1-1 Product Offering Successfully Demonstrated at One of Brooks Run's Coal Mines in West Virginia
VANCOUVER, BC--(MARKET WIRE)--May 15, 2007 -- iPackets International, Inc. ("iPackets" or "Company") (Other OTC:IPKL.PK - News), a developer and provider of wireless communications software and equipment for the mine-safety industry, is pleased to announce that the Company along with its two partners, AFL Network Services' Enterprise Division ("AFL"), and Mainline Communications ("Mainline"), have successfully demonstrated the Mine-1-1 comprehensive wireless mine-safety product offering to Brooks Run Mining Co., LLC ("Brooks"), a subsidiary of Alpha Natural Resources that owns and operates 64 coal mines in the United States.
The products demonstrated were iPackets' iPMine solution, and AFL's network services including their third generation of the MobileNet(TM) product, remote video surveillance, and Voice over Internet Protocol ("VoIP") capability, interactively send and receive messages, and establish a one-on-one communications with miners inside the mine. The successful demo, facilitated by Mainline, was conducted on-site at one of Brooks' 33 coal mines located around Cowen, West Virginia.
The overall feedback was extremely positive and participants appreciated not only the completeness of the Mine-1-1 offering, but also how well the end-to-end system is integrated.
"We are extremely pleased that within a few weeks from announcing the Mine-1-1 offering for the U.S. market, our partner Mainline was able to quickly arrange for a demo of this magnitude at a large coal operator in the U.S.," says Naiel Kanno, president and chief executive officer for iPackets. "We are equally elated that the Mine-1-1 product demonstration far exceeded the expectation of all participants."
Hugh McDavid, President of Mainline, was enthusiastic about the successful demonstration, saying, "We have known all along that the Mine-1-1 solution is cutting edge technology that will create a safer work environment. The success of the demonstration proved that and has already generated a lot of discussion and excitement in the mining industry. Since mine safety is so important, the management at Alpha Resources, Inc. and Brooks Run should be congratulated for their willingness to give us the opportunity to demonstrate to them just how well the system works."
"This was a very exciting and productive test and demonstration," stated Miner Lawrence, Director of Project Management and Advanced Solution Systems for AFL Network Services. "The mine workers were enthused about the new system -the way it works and all that could be accomplished with this single solution. It's great to be part of a team that is focused on providing safer working conditions within the mining community. We look forward to our continued partnership."
About The Mine-1-1 Product Offering
The Mine-1-1 product offering, targeted for the U.S. mining industry, is a partnership between iPackets, North Carolina-based AFL Network Services' Enterprise Division (a wholly owned subsidiary of Japanese conglomerate Fujikura, Ltd. www.fujikura.co.jp), and Kentucky-based Mainline Communications. The Mine-1-1 product offering consists of iPackets' iPMine mine-safety product, AFL Network Services' MobileNet(TM) product, network design, and integration, and Mainline's sales and marketing expertise, communications installation and deployment services. Mainline is also the exclusive distributor for AFL Network Services' MobileNet(TM) product in the mining industry. For more information on the partners, visit www.AFLnetwork.com,www.AFLmobilenet.com, and www.mainlinecomm.com.
About iPackets International, Inc. and iPMine
iPackets International is a developer and provider of wireless communications software and equipment for the global mine-safety industry. iPMine, the Company's flagship product designed to significantly improve the safety of miners and equipment, is a real-time two-way wireless communications solution that tracks, monitors, and communicates with miners and equipment underground and above ground. For more information, visit www.ipackets.com.
Certain statements included in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations.
Contact:
Mr. Naiel Kanno President and CEO 1 (778) 328-9005
VANCOUVER, BC--(MARKET WIRE)--May 16, 2007 -- iPackets International, Inc. ("iPackets" or "Company") (Other OTC:IPKL.PK - News), a developer and provider of wireless communications software and equipment for the mine-safety industry, today announced that AudioStocks.com has posted an exclusive interview of iPackets' CEO, Mr. Naiel Kanno, on AudioStocks.com's web site. In light of the Company's April 23, 2007 announcement that it is partnering with both AFL Network Services' Enterprise Division and Mainline Communications, Mr. Kanno provides an in-depth discussion of the Company's business plan, with an emphasis on marketing and revenue generation.
The complete audio interview with Mr. Kanno can be found exclusively at www.audiostocks.com.
About iPackets International, Inc. and iPMine
iPackets International is a developer and provider of wireless communications software and equipment for the global mine-safety industry. iPMine, the company's flagship product designed to significantly improve the safety of miners and equipment, is a real-time two-way wireless communications solution that tracks, monitors, and communicates with miners and equipment underground and above ground. For more information, visit www.ipackets.com.
About AudioStocks.com
AudioStocks.com is an Internet-based publishing platform designed to create, catalogue, distribute and make functional, financial content and data related to that content. AudioStocks.com solutions generate rich media exposure for public and private companies, industry groups and investment professionals through the AudioStocks.com proprietary software platform. AudioStocks.com software is primarily used to: (1) facilitate executive and company participation in industry and event-based roundtables and conferences; (2) create and distribute audio-based content related to a particular private or public company or an industry in which a company conducts business; (3) append interview-related and other rich media content to traditional press releases; and (4) for registered investment professionals only, to add interview-based audio content to financial research. AudioStocks.com content is distributed to millions of individuals online and over 30,000 financial professionals, including North American and international buy-side analysts, investment research professionals and portfolio managers. All content is copyrighted to protect licensing partners.
Certain statements included in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations.
Contact:
Mr. Naiel Kanno President and CEO 1 (778) 328-9005
posted
Recent Mine-1-1 Satellite Simulcast Demonstration to Mine Safety and Health Administration Representatives Tuesday May 29, 9:30 am ET
VANCOUVER, BC--(MARKET WIRE)--May 29, 2007 -- iPackets International, Inc. ("iPackets" or "Company") (Other OTC:IPKL.PK - News), a developer and provider of wireless communications software and equipment for the mine-safety industry, confirmed today that the recent successful Mine-1-1 underground demonstration was viewed live, via a satellite simulcast, by representatives of the Mine Safety and Health Administration ("MSHA"). ADVERTISEMENT
MSHA is part of the U.S. Department of Labor and its mission is to administer the provisions of the Federal Mine Safety and Health Act of 1977, and to enforce compliance with mandatory safety and health standards as a means to eliminate fatal accidents; to reduce the frequency and severity of nonfatal accidents; to minimize health hazards; and to promote improved safety and health conditions in the Nation's mines.
Utilizing the satellite uplink capability of the MobileNet(TM) product, a component of the Mine-1-1 offering, the demonstration was simultaneously transmitted live from a coal mine to the National Mine Health and Safety Academy offices in Beckley, West Virginia. MSHA representatives, in the Beckley office, viewed the underground movement of the miners and the capability of real-time messaging.
"This is by far one of our best product demonstrations we've conducted in the history of our company," says Naiel Kanno, president and chief executive officer for iPackets. "We have set the bar very high for competitors to match the feature-rich Mine-1-1 capability and demonstrate it effectively."
Hugh McDavid, President of Mainline Communications, Inc., who was present at the remote demonstration, said, "Not only did the demonstration show definitively that the Mine-1-1 solution provides real-time tracking and monitoring of miners as they move about the mine, as well as two-way voice and data communication with the miners, the remote viewing of the demo showcased the unparalleled flexibility of the system. Nothing else on the market compares with this technology."
"This was a home run! The Mine-1-1 solution was very adaptable to the environment that it was deployed in and performed great," stated Miner Lawrence, Director of Project Management and Advanced Solution Systems for AFL Network Services. "Within a few hours we deployed the wireless network, monitored the team below ground, and demonstrated other advanced services over the network without any problems."
Mr. Lawrence also stated that it was a great team effort. "I'm very proud to be a part of something that will assist with making a safer work environment for the mine workers. It's amazing when you stop to think about everything that took place -- you can see the excitement in the faces of the mine workers standing by."
About The Mine-1-1 Product Offering
The Mine-1-1 product offering, targeted for the U.S. mining industry, is a partnership between iPackets, North Carolina-based AFL Network Services' Enterprise Division (a wholly owned subsidiary of Japanese conglomerate Fujikura, Ltd. www.fujikura.co.jp), and Kentucky-based Mainline Communications. The Mine-1-1 product offering consists of iPackets' iPMine mine-safety product, AFL Network Services' MobileNet(TM) product, network design, and integration, and Mainline's sales and marketing expertise, communications installation and deployment services. Mainline is also the exclusive distributor for AFL Network Services' MobileNet(TM) product in the mining industry. For more information on the partners, visit www.AFLnetwork.com,www.AFLmobilenet.com, and www.mainlinecomm.com.
About iPackets International, Inc. and iPMine
iPackets International is a developer and provider of wireless communications software and equipment for the global mine-safety industry. iPMine, the Company's flagship product designed to significantly improve the safety of miners and equipment, is a real-time two-way wireless communications solution that tracks, monitors, and communicates with miners and equipment underground and above ground. For more information, visit www.ipackets.com.
iPackets International, Inc. is currently featured at AudioStocks, where a profile and other information may be obtained by visiting http://www.audiostocks.com.
Certain statements included in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations.
Contact: Contact: Mr. Naiel Kanno President and CEO iPackets International, Inc. 1 (778) 328-9005
Have you ever looked into iPMine as a wireless communications device for mine safety? The product is held by a company called iPackets International. Their website is easily accessible through the internet. I have plenty of family members that have or is currently miners in the Appalachian basin and it would be very pertinent to check out their product, if you haven't already.
Thanks for your time.
Kenneth Palmer
From: fwx4*cdc.gov Subject: Wireless Mining communications Date: May 30, 2007 7:38:59 AM PDT To:
Mr. Palmer,
Dr. Kohler forwarded your inquiry to me for response. NIOSH has been actively evaluating wireless mining communications technologies since the passage of the MINER Act which requires wireless communications in all underground coal mines by June 2009. Using funds provided by an Emergency Supplementary Appropriations, we have issued two requests for proposals (RFP) for the design and demonstration of wireless communication systems. Here is a link that you can follow to download the RFPs if you are interested.
Based on a thorough review of the competitive proposals, we have made two contract awards for design and demonstration of wireless systems. In addition to that we have released a Broad Agency Announcement, which is also available on the same link, that provides an opportunity for companies to propose novel ideas for communications systems and other mine safety technology.
We have evaluated many wireless technologies and products in this process and continue to work at making technologies available that will make underground mines a safer place to work. Unfortunately, I can not disclose which specific companies we have and have not looked at; but rest assured we have solicited information from every source that we can and will continue to do so.
All of us here at the NIOSH Office of Mine Safety and Health are dedicated to making the lives of miners safer and healthier, and we appreciate your input.
Regards,
David Snyder NIOSH Senior Mine Electrical Engineer
-------------------------------
From Ranger17 * iHub:
From: Chirdon, David C - MSHA [mailto:Chirdon.David*dol.gov] Sent: Thursday, May 31, 2007 5:36 AM To: Cc: Shumaker, Wesley A - MSHA; Dolinar, Kevin D - MSHA; Hill, Juliette E - MSHA Subject: RE: Technologies for Underground Applications
Dear :
We have been in communication with iPackets for over a year now and just recently observed a demonstration of their system installed in an underground mine. We are encouraged by the capability of their system and are hopeful that they have a possible solution to some of the underground mining challenges regarding communications and tracking. If you have any specific questions regarding their design, I would be happy to address them.
Best regards,
David Chirdon Office of Technical Support Mine Safety and Health Administration Phone: (202) 693-9481
-----Original Message----- From: Sent: Wednesday, May 30, 2007 10:01 AM To: Chirdon, David C - MSHA Subject: Technologies for Underground Applications
Hello Mr. Chirdon,
I wanted to ask you if you had heard of a technology offered by Ipackets International for use in Mines, for the purpose of Mine Safety. Supposedly, they had carried out some tests recently and had showcased the technology to MSHA. If so, could you give me your input about it?
iPackets Announces Execution of Letter of Intent With SubterraCom Wireless Solutions Tuesday July 31, 9:00 am ET
VANCOUVER, BC--(MARKET WIRE)--Jul 31, 2007 -- iPackets International, Inc. ("iPackets" or "Company") (Other OTC:IPKL.PK - News), a developer and provider of wireless communications software and equipment for the mine-safety industry, announced today the execution of a letter of intent ("LOI") with privately held, U.S.-based SubterraCom Wireless Solutions ("SWS"), whereby SWS would acquire substantially all of the assets and operations of iPackets.
In accordance with the terms and provisions of the LOI, iPackets is proposing to sell to SWS substantially all of its assets for the aggregate consideration of approximately $2,700,000. The proposed transaction is subject to financial and legal due diligence, and execution of a definite asset purchase agreement. The parties expect to execute the asset purchase agreement within the next thirty days. The iPackets team will join SWS and be involved in the day-to-day operation of SWS.
iPackets and SWS have also entered into a product and technology distribution agreement pursuant to which SWS has been designated as the exclusive distributor of iPackets' products. The distribution agreement will enable SWS to commence sales and marketing activities to the mine-safety industry until the execution of the asset purchase agreement.
Post asset purchase agreement execution, iPackets shareholders as of end of business day July 30, 2007 ("Record Date") will receive a one time cash dividend from the asset sale net proceeds. Further information on the cash dividend distribution will be communicated to shareholders in subsequent press releases. iPackets shareholders will continue to hold their shares in iPackets post transaction closing and receipt of cash dividend.
About iPackets International, Inc. and iPMine
iPackets International is a developer and provider of wireless communications software and equipment for the global mine-safety industry. iPMine, the Company's flagship product designed to significantly improve the safety of miners and equipment, is a real-time two-way wireless communications solution that tracks, monitors, and communicates with miners and equipment underground and above ground. For more information, visit www.ipackets.com.
Certain statements included in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations.
Contact: Contact: Mr. Naiel Kanno President and CEO iPackets International, Inc. 1 (778) 328-9005
Posts: 524 | From: Seattle | Registered: Aug 2006
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