Concierge Technologies Partners with Wireless Village.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. -- Concierge Technologies, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CNCG CNCG Comisión Nacional para el Cambio Global CNCG Concentrated Non-Condensable Gas ) today announced that a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. has been reached with Ohio-based Wireless Village, a privately held Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. . Wireless Village is involved with construction of next-generation 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 networks based on MESH technology, and the installation, maintenance and marketing of wireless fidelity ("WiFi") networks utilizing various promulgations of the 802.11 standards. Bill Robb, President of Wireless Village, commented, "Wireless Village has assembled the expertise of industry veterans to launch MESH technology networks initially in Ohio and soon to include other niche markets nationwide. We believe that Concierge brings a synergistic management team to the project as well as a heightened exposure to financial markets not otherwise available to us. We are looking forward to establishing our relationship and continuing to expand our joint business opportunities." Allen Kahn, Chairman of Concierge, added, "Concierge has been searching for the right technology and the right partner to revitalize the company. We have found such a partner in Wireless Village. With the recent re-domestication of our company in Nevada, Concierge is now poised to move aggressively towards rebuilding our business. We are anxious to begin that process with Wireless Village as our ally." The Memorandum of Understanding outlines in general terms how Concierge Technologies would acquire a stake in Wireless Village in a stock-for-stock transaction pending certain conditions and performance criteria, including the completion of a proposed MESH network in Southern California by Wireless Village, satisfactory completion of 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. , board and regulatory approvals, the availability of authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. of Concierge, and the signing of definitive documentation. If the proposed transaction is completed, there would be no change of control in Concierge Technologies. The statements contained in this press release that are not historical facts are forward-looking statements that involve certain risks and uncertainties, including, but not limited to, risks associated with the uncertainty of our future performance, acquisitions or dispositions of interests, debt obligations, additional financing requirements, the effect of economic conditions generally and in the communications and information technology markets specifically, and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These and other factors may cause actual results to differ materially from those projected. |
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