Concierge Technologies to Acquire 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 binding 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 Wireless Village, a provider of 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 Internet services, that sets forth the terms and conditions pursuant to which Concierge would acquire all of the outstanding and issued shares of Wireless Village in a stock-for-stock transaction. Concierge, through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Planet Halo, is engaged in the design, construction and operation of commercial wireless networks utilizing Tropos' metro-scale MESH technology. Wireless Village has been operating under contract with Planet Halo to supply technical support, web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. and design, billing and customer service functions since May 2007. David Neibert, C.E.O. of Concierge commented that, "Wireless Village has been a key component to the successful launch of our California network and it makes sense for us to consolidate the technical expertise to better control the expansion of our business going forward. We're also excited about the expanding business of Wireless Village in the Cleveland, Ohio area and their localized web portal design (www.mdr.wirelessvillage.com) that is being duplicated across our network locations." Bill Robb, President of Wireless Village added, "As a Concierge company we will have the opportunity to advance our business model while continuing to provide a quality service to Planet Halo customers in a much more efficient manner. With Planet Halo as a partner, we are looking forward to greatly expanding our market reach for both wireless networks and our social networking web portal beyond what we could hope to achieve as a private company." The proposed transaction is subject to final, definitive documentation, approvals from the respective boards of directors, regulatory approval and 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. . 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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