Digital Data Networks, Inc. Completes Asset Sale to Intransit Media, Inc.Business Editors/High-Tech Writers DALLAS--(BUSINESS WIRE)--March 1, 2004 Digital Data Networks, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DIDA DIDA Diploma in Digital Application DIDA Dynamic Interactive Decision Analysis DIDA Detection, Identification & Assessment (FEMA) ) today announced that it has sold to InTransit Media, Inc. substantially all of Digital Data Networks' assets relating to the operations of its wireless mass transit passenger advertising business in exchange for InTransit Media assuming certain obligations and liabilities relating to such assets. As a result of the sale, Digital Data Networks' operations now consist of the operations of its wholly-owned subsidiary, i2 Telecom International, Inc., which Digital Data Networks acquired by means of merger on February 26, 2004, as previously announced. About i2 Telecom International, Inc. i2 Telecom International is a low-cost telecommunications service provider A Telecommunications Service Provider or TSP is a type of Communications Service Provider that has traditionally provided telephone and similar services. This category includes ILECs, CLECs, and mobile wireless companies. employing next generation Voice over Internet Protocol ("VoIP") technology with operations based in Boca Raton, Florida Boca Raton ("bōkə rə-tōn") is a city in Palm Beach County, Florida incorporated in May 1925. As of the 2000 census, the city had a total population of 74,764; the 2006 population recorded by the U.S. Census Bureau was 86,396. , Atlanta, Georgia and Redwood City, California Redwood City is a suburb located on the San Francisco Peninsula in the San Francisco Bay Area of California. Redwood City is the county seat of San Mateo County. As of the 2005 census, the city had a total population of 76,000. , Malaysia and China. i2 Telecom International controls its own proprietary technology and outsources its production and service functions with strategic partners. i2 Telecom International provides micro gateway adapters (InternetTalker(TM)), VoIP long distance and other enhanced communication services to subscribers. i2 Telecom International's proprietary technology platform is built to the Session Initiation Protocol (protocol) Session Initiation Protocol - (SIP) A very simple text-based application-layer control protocol. It creates, modifies, and terminates sessions with one or more participants. Such sessions include Internet telephony and multimedia conferences. It is described in RFC 2543. standard. i2 Telecom International's revenue model is multi-faceted and includes prepaid revenue from the sale of its InternetTalker(TM) integrated access device An IAD is a customer premises device that provides access to wide area networks and the Internet. Specifically, it aggregates multiple channels of information including voice and data across a single shared access link to a carrier or service provider PoP (Point of Presence). , recurring monthly subscriptions, call minute termination and original equipment manufacturer royalties. Forward-Looking Statements With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including, but not limited to, product acceptance, economic, competitive, governmental, results of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , technological and/or other factors which are outside the control of the company. Actual results and developments may differ materially from those contemplated by these forward-looking statements depending on such factors as changes in general economic conditions and financial or equity markets, technological changes, and other business risk factors. The company does not assume, and expressly disclaims, any obligation to update these forward-looking statements. |
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