AIR2DATA Signs Letter of Intent to Provide Videolocity's Digital Entertainment System to Hotel Customers.BRIGHAM CITY Brigham City, city (1990 pop. 15,644), seat of Box Elder co., N Utah; inc. 1869. It is the center of a large farm area served by the Ogden River project. Sheep, cattle, wheat, sugar beets, and orchard fruit are raised. , Utah -- Videolocity International, Inc (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:VCTY), the provider of the Digital Entertainment System (DES(TM)), the new solution for interactive delivery of video and other digital content to end users on demand, announced that it has received a Letter of Intent with Air2Data for a licensing and revenue sharing revenue sharing Funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. agreement to provide Air2Data's existing and potential customers with Videolocity's DES(TM). Upon execution of the definitive license agreement, Air2Data will license from Videolocity the non-exclusive worldwide rights to market, sell, install and operate the DES(TM). Air2Data plans to independently brand the DES(TM) and sell to all hospitality customers, although it may offer the DES(TM) to one or more additional market outlets. The license will also include rights to other versions of the product, including upgrades and other custom market solutions. "Air2Data intends to use its best efforts to introduce the DES(TM) product, market, brand, promote and distribute the licensed property as an exciting compliment to our existing Wireless Internet service," stated Shirlene Peck peck: see English units of measurement. , 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 Air2Data. "Air2Data, as one of the premier high-Speed Wireless Internet access providers See ISP. (networking, company) Internet Access Provider - (IAP) A company or other origanisation which provides access to the Internet to businesses and/or consumers. with over 150 installed hotels in the US, provides Videolocity a relationship that helps us achieve product distribution and expansion on a large scale. It is our intention to develop strong partners and licensees in order for us to reach our fullest domestic and international potential and to find a partner such as Air2Data in our own backyard has been a welcomed bonus," said Robert Holt, Videolocity's CEO. "Videolocity is executing diligently dil·i·gent adj. Marked by persevering, painstaking effort. See Synonyms at busy. [Middle English, from Old French, from Latin d on its business plans and objectives and is very pleased with the response it has received for its DES(TM) to date. The company anticipates closing on this latest licensing and revenue sharing agreement imminently." About Videolocity International, Inc. Videolocity is a technology company that is committed to continued development and marketing of innovative, high, quality, cost effective systems to build ongoing revenue streams. The Company has developed proprietary technologies that reduce band-width requirements for numerous applications of digital content. The Company is currently using advanced proprietary technologies to transmit streaming digital video at speeds of 1Mbps or less. Videolocity has the technological capacity to enter into a variety of markets that include hospitality, healthcare, residential, security and corporate training. Videolocity currently offers Microsoft- and/or Linux-based solutions using standard protocols and equipment enhanced by the company's innovative proprietary technologies and methodologies. About Air2Data Since 2001, Air2Data has dedicated itself to providing hotels, motels Motels may refer to any of the following:
This release contains statements that constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 21E of the Securities Exchange Act and Section 27A of the Securities Act. Readers are cautioned not to put undue reliance on such forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including but not limited to: the development and/or acceptance of new products, the impact of competition on the company's products and/or pricing, and the success of the company's systems. |
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