AirRover Acquisition Target, Diamond I Technologies, to Preview Hand-Held Gaming System; Gaming System Public Preview to Follow Soon After Mid-January Closing of Acquisition.BATON ROUGE Baton Rouge (băt`ən r zh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. , La. -- AirRover Wi-Fi Corp. (OTCBB OTCBBSee OTC Bulletin Board (OTCBB). :AVWF), a Wi-Fi (wireless fidelity See Wi-Fi. ) Internet access provider See ISP. (networking, company) Internet Access Provider - (IAP) A company or other origanisation which provides access to the Internet to businesses and/or consumers. , announced today that Diamond I Technologies, the Los Angeles-based computer software developer to be acquired by AirRover, will be offering to the public a web-based preview of its hand-held Wi-Fi-based gaming system, beginning in early February 2005. Already, Diamond I has previewed the system for private audiences in client-and-regulatory-specific presentations. This interactive web-based preview will give the general public a comprehensive first-look at the system's innovative features. AirRover and Diamond I have scheduled the formal closing of the acquisition transaction for mid-January, the companies having signed the acquisition agreement on January 7, 2005. Diamond I's "WifiCasino GS Concierge and Gaming System" seeks to revolutionize the casino/resort experience by offering access to casino games Games available in most casinos are commonly called casino games. In a casino game, the players gamble casino chips on various possible random outcomes or combinations of outcomes. Casino games are available in online casinos, where permitted by law. and hotel services essentially anywhere on a casino/resort's premises. Where necessary, Diamond I intends to seek regulatory approval of its gaming system, which is made secure and reliable by a patent-pending security system. Diamond I's web address is www.diamonditech.com. Mike Prasad Prasāda (Sanskrit: प्रसाद), prasād/prashad (Hindi), Prasāda in (Kannada), prasādam (Tamil), or prasadam , CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. of Diamond I, stated, "We are very excited to present our technology to the public. We want them to look at our system and begin to imagine what their next resort experience may be like." "We are extremely excited about the progress Diamond I has been making on its innovative gaming system," said David Loflin, AirRover's president. Mr. Loflin also noted that the company had already begun negotiations with its warrant holders, seeking the exercise of outstanding warrants, which warrants represent an equity influx of up to $5,000,000 of new capital to the company. About AirRover Wi-Fi Corp. AirRover Wi-Fi Corp. is a development-stage company that develops and operates wireless Internet access See how to access the Internet. systems. It provides Wi-Fi Internet access in Louisiana, Arizona, Maryland, Pennsylvania, Nebraska and Washington, D.C. AirRover's "Wi-Fi" (hotspot) Internet access system operates on a platform comprised of Wi-Fi standard equipment that has been configured in a proprietary manner. The term "Wi-Fi" (wireless fidelity) refers to an industry standard for wireless equipment that meets published 802.11(x) standards. Wi-Fi equipment operates in unlicensed spectra, such as 2.4 and 5.8 Ghz. AirRover's business plan focuses on the marketing of its wireless Internet access services to businesses and residential customers, as well as developing Wi-Fi-based products for use by consumers. 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. Certain statements in these interviews and news releases may constitute "forward looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward looking statements involve risk, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. Certain statements contained in the interviews are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to, AirRover's ability to secure the exercise of its currently outstanding warrants, as described in this press release, as well as other risks and uncertainties pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to development of AirRover's products and services and markets for such products and services, the timing and level of customer orders, competitive products and service, changes in economic conditions and other risks and uncertainties. Although AirRover believes the statements are reasonable, it can give no assurance that such expectations will prove correct. AirRover cautions that any forward-looking statements contained herein are not a guarantee of future performance and that actual results may differ materially. |
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