Global General Technologies, Inc. to Acquire AirSpeak before Year End.
AirSpeak provides innovative mobile solutions and data access software for corporate users. AirSpeak's target market constitutes information users who require immediate access to PCs and/or corporate databases on a real time basis. The wireless products AirSpeak has developed and is selling are designed to help companies be more effective and profitable by providing users with access to immediate information remotely in a secure, safe, and efficient manner. These products increase business productivity and efficiency inexpensively.
The multi-lingual AirSpeak FLAIR mobile tablet with a 12 inch touch screen display and handwriting recognition, provides wireless access to desktop PCs at an estimated price of $1,250 per unit. This access is not limited to the internet, but to tools such as Word, Excel and PowerPoint - the same applications and data accessible via the familiar Windows(TM) desktop interface. The data access is a more secure process than using a traditional laptop because there is no hard drive in the FLAIR; sensitive information remains resident at the location of origin.
The FLAIR is portable and used as a communication device that enables corporate employees to easily secure VPN communications or use the tablet as a stand-alone device. The FLAIR's mobile data delivery system is desirable for the security industry as the FLAIR can remotely control security equipment such as viewing video of secured areas, reviewing security parameter information with a command / control center, or communicating via various wireless communication mediums (mobile phones, satellite, SMR). The patented "Flair" has attracted multi-industry attention including the gaming, healthcare, real estate, telecommunication industries such that AirSpeak has a backlog, as of September 2006, in excess of 2,000 units.
There is no assurance that the transactions contemplated by the purchase agreement will be consummated.
Global General Technologies, Inc., through its wholly owned subsidiary H7 Security Systems, Inc., designs, implements and maintains high tech surveillance and warning systems for the prevention of terrorists attacks using its proprietary Intelligent Communication Node (ICN) that configures and analyses many forms of real time data that permits instantaneous response decisions.
Global General Technologies, Inc. trades on the OTC Bulletin Board under the symbol GLGT. The company hopes to design, implement and maintain homeland security systems internationally with a primary focus on perimeter security of large high value facilities. The company's website is www.globalgeneraltechnologies.com.
Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 ("Reform Act"). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the Reform Act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including the failure to close the transaction with AirSpeak, lack of capital to develop and market the products, lack of marketability, operating costs, advertising and promotional efforts, the existence or absence of adverse publicity, changes in business strategy or development plans, the ability to retain management, availability, terms and deployment of capital; business abilities and judgment of personnel, availability of qualified personnel, changes in, or failure to comply with various government regulations and uncertainties relating to economic issues and competition. Reference is made to all the Company's SEC filings, including the Company's Report on Form 8-K regarding the transaction with AirSpeak and other periodic reports.