Mobiltek Announces Restructuring and Strategic Joint Venture.SUNNYVALE, Calif. -- Mobiltek Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : MOBK MOBK Modified Oppenheimer-Brinkman-Kramers ), today announced that it has restructured the Company, and is now a Global Wireless and Value Added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. Service Telecommunications Provider with three operating subsidiaries. The company entered into a Strategic Agreement with SSI-Affinity (a Michigan CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) ) and Mobile 10 (music and mobile entertainment company). In this restructured Company, Mobiltek will remain committed to its strategy of becoming a leader for China in the wireless Value Added Products and Services market. The Company will continue to focus on capturing a significant share of the fast growing Asia wireless market, which is the largest wireless user market in the world. China has about 358 million wireless users and is expected to increase wireless users at a rate of more than 17% per year. Mobile 10 intends to focus its efforts on providing personal entertainment to the Wireless users within the USA and cross sell those same products and services globally. Products will include ringtones, games and other personal entertainment products and services for mobile users. Its consumer market is the global youth market. SSI (1) See server-side include and single-system image. (2) (Small-Scale Integration) Less than 100 transistors on a chip. See MSI, LSI, VLSI and ULSI. 1. (electronics) SSI - small scale integration. 2. Affinity is a Michigan Competitive Local Exchange Carrier (CLEC) and sells local, toll, and long distance telephone services to corporate and residential customers. The company is entering the wireless phone business in 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. with both traditional pay and pre paid wireless offerings expected to launch in 2006. It is estimated that SSI generated about $1,000,000 in gross revenues this year. "We are optimistic and excited about our future. Mobiltek exists within a multi hundred billion dollar global industry and now has a foot print in two of the world's largest markets. There are certain niches and cross selling opportunities that the Company believes it can take advantage of in order to significantly increase revenue. We believe that we will be successful in capturing 2% of the business within our target markets, we believe we can grow this Company to $100,000,000 in revenue within three years," says CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. George Moy. As part of the agreement the Company will relocate its offices and expand its management and board. The Company is reviewing potential board and management candidates. On a separate note, Mr. Muller resigned from the Board of Directors and his resignation was accepted. "Mobiltek is grateful for Mr. Muller's previous expertise and professionalism. Mr. Muller has offered his technical expertise to the Company on an as needed as needed prn. See prn order. basis," stated Mr. Moy. About Mobiltek Corporation Mobiltek Corporation has a vision to become a global leader in Wireless, Interactive, and Mobile Value Added Services. The Company's strategy is to initially offer relevant content to mobile customers within the fast growing markets of China and the U.S. Product and service offering to include: ring tones, games, news service, short message services (SMS (1) (Storage Management System) Software used to routinely back up and archive files. See HSM. (2) (Systems Management Server) Systems management software from Microsoft that runs on Windows NT Server. ), educational information, movies, interactive mobile TV and more. The company will execute its model by establishing strategic partnerships, alliances and acquisitions; this will allow the company to expand their product and services offerings and market presence. To find out more about Mobiltek Corporation (OTC: MOBK.PK) or visit our website at (www.mobiltekcorp.com.) Pursuant to 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 , except for historical information contained herein, this press release contains forward-looking statements that involve a number of risks and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements due to a number of factors and risks detailed from time to time in statements and reports that the company has filed or may file with the Securities and Exchange Commission. Any forward-looking statements contained in this press 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 of 1995. |
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