AirRover Reaches Tentative Agreement to Acquire Diamond I Technologies, Inc.; Diamond I Tech to Integrate Proprietary Hand-Held Gaming System into AirRover's Wi-Fi Platform.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 it has reached an agreement in principle to acquire Diamond I Technologies, Inc. (DTI Diffusion tensor imaging (DTI) A refinement of magnetic resonance imaging that allows the doctor to measure the flow of water and track the pathways of white matter in the brain. ), a privately-held California-based computer software developer. DTI has developed a hand-held Wi-Fi-based gaming system for on-premises use by casinos. DTI's gaming 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. DTI's system is based on a patent-pending fingerprint security system. Nevada Gaming Commission The Nevada Gaming Commission is a Nevada state governmental agency involved in the regulation of casinos throughout the state, along with the Nevada Gaming Control Board. It was founded in 1959 by the Nevada Legislature. approval is required before DTI's gaming system can be utilized in Nevada casinos. The acquisition of DTI is expected to be made solely with shares of AirRover's common stock. The parties are currently engaged in their respective due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. activities. AirRover's management is not aware of any impediment to its reaching a final agreement with DTI and anticipates that a definitive agreement will be signed in the near future. About AirRover Wi-Fi Corp. AirRover Wi-Fi Corp. is a development-stage company that develops and operates wireless Internet access 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 to visitors to its markets with Wi-Fi compatible laptop computers and other wireless devices. 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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