World Internet Technologies Inc. Acquires Contract to Provide Internet Access to More Than 35 Military Bases Nationwide.Business Editors & High-Tech Writers PALM SPRINGS, Calif.--(BUSINESS WIRE)--March 6, 2001 World Internet Technologies Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :WORI WORI Women’s Rights National Historic Park (US National Park Service) ) announced signing of a contract allowing for the acquisition of The Bevill Company (BevCo), an Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. holding the contract to provide on-base Internet access See how to access the Internet. to more than 35 military bases across the country. With this new relationship, in conjunction with other subsidiaries of WORI, BevCo will provide Internet access to personnel on the military bases. The contract is expected to produce over 15,000 monthly subscribers. These subscribers, and services offered to outlying communities are expected to generate at least $6 million in annual revenue. BevCo is currently providing services at Ft. Polk, La. and is currently deploying at Ft. Drum, N.Y. The infrastructure extension needed to make these services available at all the bases will continue to proceed. WORI/BevCo expects to be able to provide service to at least two additional bases per month, with a total build-out target of less than 12 months. WORI expects to generate additional revenue by providing Internet related services to communities surrounding the bases. WORI currently offers custom Web site design, hosting, and marketing as well as a full range of Internet access services including 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 solutions. This contract will allow BevCo to consolidate billing and maintenance needs to keep overhead low and increase profit margins while maintaining exceptional service levels. BevCo/WORI will also have an increased range of products to market to outlying communities around the bases, in addition to military personnel. Note: Any statements released by World Internet Technologies Inc. that are forward-looking 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. Editors and investors are cautioned that forward-looking statements involve risks and uncertainties that may affect the company's business prospects and performance. These include, but are not limited to, economic, competitive, governmental, technological, and other factors discussed in timelines. |
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