AirRover Closes Acquisition of Diamond I Technologies; Acquisition Marks New Course Focusing on Innovative Wi-Fi-Based Products.LAS VEGAS Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. -- AirRover Wi-Fi Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AVWF), a Wi-Fi-based communications solutions company, announced today that it has completed the acquisition of Diamond I Technologies, Inc., a privately held, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , CA-based computer software developer. Diamond I has developed a hand-held Wi-Fi-based gaming system for on-premises use by casinos/resorts. Diamond I's gaming system, based on a patent-pending security system, would permit casino patrons to secure a PDA (Personal Digital Assistant) A handheld computer for managing contacts, appointments and tasks. It typically includes a name and address database, calendar, to-do list and note taker, which are the functions in a personal information manager (see PIM). device from the casino that would enable the patrons to enjoy in-room and pool-side gaming action, as well as other casino services. The acquisition of Diamond I was made solely for shares of AirRover's common stock. "This acquisition marks the start of a new direction for our company," said David Loflin, president of AirRover. "We are now on a course to focus on bringing new Wi-Fi-based products to market, like the exciting and innovative product developed by Diamond I. We believe the future of Wi-Fi lies in product innovation, well beyond the traditional hotspot," added Mr. Loflin. "I'm very pleased and excited that the merger went through. AirRover's technology offers a lot of value to the combined companies and many positive developments are in store for us," said Jason Davis Jason Davis may refer to:
"We look forward to the convergence of our technologies and teams with AirRover's. Our combined resources should allow us to revolutionize the gaming industry; we intend to live up to our creed: Evolution through Innovation," stated 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. Beginning early in February 2005, Diamond I will be offering to the public a Web-based preview of its hand-held Wi-Fi-based gaming system, known as "WifiCasino GS Concierge and Gaming System." Diamond I already has previewed the system for private audiences in client-and-regulatory-specific presentations (where necessary, Diamond I intends to seek regulatory approval of its gaming system). This interactive Web-based preview will give the general public a comprehensive first look at the system's innovative features. Wifi Casino GS is expected to revolutionize the casino/resort experience by offering access to casino games and hotel services essentially anywhere on a casino/resort's premises and is made secure and reliable by its patent-pending security system. Diamond I's Web address is www.diamonditech.com. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. statistics provided to Diamond I by certain Nevada casinos, Diamond I's hand-held gaming devices could increase the gaming revenues of the casinos by up to 10%. Diamond I expects that it will receive a percentage of net revenues generated by its gaming systems. For 2003, worldwide casino-based gaming revenues has been estimated to have been approximately $800 billion. About AirRover Wi-Fi Corp. AirRover Wi-Fi Corp. is a development-stage company that focuses on bringing new Wi-Fi-based products to market. The company also provides Wi-Fi Internet access See how to access the Internet. in Louisiana, Arizona, Maryland, Pennsylvania, Nebraska and Washington, D.C. The term "Wi-Fi" (wireless fidelity See Wi-Fi. ) 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. Forward-Looking Statements 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, risks and uncertainties pertaining 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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