Lantax, Ltd. Signs Collateralized Loan Agreement & Term Sheet With SkyWay Communications Holding Corp. for $24 Million.CLEARWATER, Fla. -- SkyWay sky·way n. 1. A route regularly used by airplanes; an air lane. 2. An elevated highway. Noun 1. skyway - a designated route followed by airplanes in flying from one airport to another Communications Holding Corp. (SWYC SWYC Southwestern Yacht Club ) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SWYC) announced today that Lantax, Ltd., a Private Investment Group consisting of four Western European and Northern African families, signed a collateralized loan agreement & term sheet in the amount of $24 million. The terms of the loan require the collateralization In medicine, collateralization, also vessel collaterlization and blood vessel collateralization, is the growth of a blood vessel or several blood vessels that serve the same end organ or vascular bed as another blood vessel that cannot adequately supply that end organ of 25 million restricted shares at a rate of 85% loan to value. The loan matures with all principal due on December 8, 2009, interest payable quarterly commencing on March 9, 2005 at a rate of Prime plus 1%. Additionally, the loan is based on the attainment of certain operating milestones which follow our organizational and business strategy plans. These plans are not yet finalized and may be subject to change at any time. Final terms will be released at closing. A representative of Lantax, Ltd., Dr. Thabo Stephens stated, "We are confident in the technology and the business plan presented by Messieurs Kovar and Hansen. With anticipated organizational changes and the proposed funding presented by us, we believe that SkyWay will meet its business objectives. We will stand behind SkyWay Communications, with additional funding if necessary, as they enter the security and inflight broadband communication sector." Brent Kovar, President of Skyway Communications Holding Corp. said, "I am pleased with the progress we have made in securing funding. If we are successful in meeting their milestones and closing this loan, we should have enough funding in place to complete our network and move into the next phase of development." About Lantax, Ltd. Lantax, Ltd. is a private international venture capital group dedicated to finding and investing in early stage companies that are the most advanced and effective at combating security threats to private, commercial, national and international governments. The heightened threat of terrorism has brought newfound new·found adj. Recently discovered: a newfound pastime. Adj. 1. newfound - newly discovered; "his newfound aggressiveness"; "Hudson pointed his ship down the coast of the newfound sea" attention to corporate, governmental, and private surveillance systems. However, few organizations have the capabilities necessary to integrate their surveillance operation into their core IT infrastructure. Rather than becoming a target for start up ventures, Lantax, Ltd. chooses to operate as an anonymous entity, which allows them to seek out developing companies that meet their investment criteria. They desire to invest alongside the management of developmental stage, anti-terrorist security companies, which seem to have the greatest potential to develop into significant economic contributors. About SkyWay Communications Holding Corporation SkyWay Communications Holding Corporation is a Clearwater, Florida Clearwater is a city located in central Pinellas County, Florida, USA, nearly due west of Tampa. As of the 2000 census, the city had a total population of 108,787; however, according to the 2005 U.S. Census Bureau's estimates, the city's population fell slightly to 108,687. based company that is developing a unique ground to air in-flight aircraft communication network that it anticipates will facilitate homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States and in-flight entertainment In-flight entertainment (IFE) refers to the entertainment available to aircraft passengers during a flight. After World War II commercial aviation flights became a daily event in which entertainment was requested by passengers to help the time pass. . SkyWay is focused on bringing to the market a network supporting aircraft-related service including anti-terrorism support, real time in-flight surveillance and monitoring, WIFI access to the Internet, telephone service and enhanced entertainment service for commercial and private aircraft throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Based on the final upgrading of a previous airborne telephone and communications network The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. , SkyWay intends to provide broadband connectivity between the ground and in-flight aircraft throughout the U.S. using technology that provides a broadband high-speed data transmission. SkyWay intends to be the communications solution for commercial and private aircraft owners wanting real time access to on-board security systems, aircraft health and welfare monitoring, avionics operations and for passengers wanting real time high-speed access to the Internet. The network will enable applications that can personalize the in-flight entertainment experience, provide real time access to flight management avionics with long-term data storage and also support for ground monitoring of in-flight surveillance systems that are being designed with the goal of enhancing current airline security standards. Forward-looking statements in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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