5G Wireless Communications Enters Into Binding Agreement to Acquire Wireless Think Tank.Business Editors & High-Tech Writers LAS VEGAS--(BUSINESS WIRE)--March 5, 2002 5G Wireless (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FGWC) announced today that it has entered into a Binding Agreement to acquire Wireless Think Tank, a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State Corporation. The acquisition is scheduled to close on or before the 30th of April 2002. "With Wireless Think Tank comes a wealth of knowledge and experience in the high-speed broadband world, especially within the IEEE (Institute of Electrical and Electronics Engineers, New York, www.ieee.org) A membership organization that includes engineers, scientists and students in electronics and allied fields. 802.11b standard. Wireless Think Tank has been successful in building and deploying wireless networks for markets around the world and it's this technology that will establish 5G in the high-speed wireless broadband High-speed wireless transmission of data. What is "high" speed is always a changing number. Wireless systems are typically slower than land-based, wireline networks. In the past, wireless broadband started at 250 Kbps, whereas land-based broadband was generally considered to start at T1 market," said Jerry Dix, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of 5G Wireless. Our initial wireless network is up and running in New York State, with residential and business subscribers online generating revenue, and we have a backlog of new customers waiting to be provisioned. The company has plans to expand into central Pennsylvania and Maryland in the 2nd quarter 2002. 5G's acquisition of Wireless Think Tank and its core technologies will enable the company to simplify network roll out by reducing customer acquisition costs and providing improved performance. In most cases we can provide a lower monthly cost to consumers than those being offered by other wireless, cable and DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary providers. "We are in a new era of wireless high-speed technology that will provide many opportunities for 5G. Our plans call for us to deliver shareholder value through revenue generated by sales, licensing and acquisitions as we help build the wireless highway to the future by economically delivering `last mile solutions,'" stated Dix. Currently, most of the wireless competition continues to deploy equipment based on "FHSS (Frequency Hopping Spread Spectrum) See spread spectrum. ," Frequency Hopping, Spread Spectrum, which is expensive to deploy and not capable of handling large numbers of subscribers. Furthermore, Frequency Hopping characteristics create speed constraints that limits throughput. "5G's `DSS (1) (Digital Signature Standard) A National Security Administration standard for authenticating an electronic message. See RSA and digital signature. (2) (Digital Satellite S ,' Direct Sequence Spread Spectrum technology, provides us the economies of scale needed to be profitable," stated Dix. "Our `DSS' technology can deliver wireless bridging to line-of-sight and non-line-of-sight locations through point to multi-point deployment without the loss of speed that hampers `FHSS.' We can efficiently utilize network gear to reach more clients with very attractive client acquisition costs." In other developments, the company and Peteson Investments Pte. Ltd. has entered into an agreement to mutually release each other from their obligations in Singapore. Under the terms of the agreement, Peteson has agreed to assume the current liabilities Current Liabilities Usually appearing on a company's balance sheet, it represents the amount owed for interest, accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one year. , obligations and the contracts. This will allow 5G to focus on its national rollout strategy in North America. About 5G Wireless Communications Inc. 5G Wireless Communications Inc. is located in Las Vegas, Nevada, and manufactures, designs, builds, deploys and operates wireless broadband network systems. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. |
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