QED Connect, Inc., Signs Agreement to Acquire 15% of a Canadian Wireless Application Company New Retail and Business Wireless MOIP Services in Canada
MANCHESTER, N.H., Nov. 9, 2011 /PRNewswire/ -- QED Connect, Inc. (OTC: QEDN.PK) ("QED Connect"), today announced that it has entered into an agreement to acquire a 15% stake in a Mobile Over Internet Protocol (MOIP) application owned by a Canadian distribution company. In addition, QED Connect will receive an ongoing royalty on total sales in exchange for providing funding and acting in an advisory capacity regarding marketing strategies and tactics. The definitive agreement is scheduled to close within 45 days contingent on approval of the respective companies' Boards of Directors. Additional information will be released this quarter.
In addition to mobile data services the application utilizes the data channel to provide telephone service for mobile wireless users offering a cost effective alternative to cellular technology. The Company's proprietary IP-based telecommunication platform will offer wireless services to consumers, small business and enterprise customers in the Canadian market at a substantial reduction in cost.
Canadians pay the highest mobile bills in the world according to Wireless North.ca and a CTIA survey. Many cellular operators offer unlimited usage at a fixed price, however, coverage limitations and roaming restrictions often push actual costs to more than double the initial signup fees. The proprietary Knowledge Management System and exclusive wireless application provided by the Canadian company will offer a competitive alternative for the wireless customer.
Tom Makmann, President and CEO of QED Connect stated, "Our new partner is uniquely positioned in this very exciting market to provide, for the first time, an alternative to expensive traditional wireless service. In addition to the Canadian market, the technology can be adapted to other areas where cellular service is either not available or expensive to implement. QED is very enthusiastic to be working with the Company and believes that they will be a contributor to our strategic plans. They have projected to reach revenue generation of $5 million per month within the next two years. This agreement continues QED Connect's commitment to becoming a 'business development company' in 2012."
About QED Connect, Inc.
QED Connect, Inc. makes acquisitions, investments, and enters into strategic business partnerships with businesses that have strong potential. We seek joint ventures and strategic alliances in which we can assist our partners in achieving their plans and realizing their maximum potential. QED Connect's current investments and joint ventures include:
- Sofame Energy, Inc., a joint venture with Sofame Technologies, has sold the custom-designed "Hybrid Percomtherm®" boiler which recovers boiler flue gas heat from existing boilers and recycles the heat, thereby leading to overall energy efficiency. Sofame Technologies has announced $1.4 million of orders for the Hybrid Percomtherm boiler in the past 6 weeks.
- Nazz Productions, a movie producer. Nazz's feature film, "Good Day For It", won Favorite Feature at the 2011 Sonoma International Film Festival and opened theatrically in Los Angeles in July. Nazz expects the film to be released on DVD and video on demand later this year.
- StockProfile.com, a media awareness company which operates a customized platform showcasing emerging growth stocks to independent investors. In June 2011, QED Connect purchased 100% of the assets of StockProfile.com.
- Kaleidoscope Venture Capital, Inc. technology distributes multiple DIRECTV satellite signals to customers on a single wire when coupled with DIRECTV-developed technology. The central dish system allows for a single compact dish antenna assembly to serve all the units in an entire building complex.
As a result of its continued success in the mergers and acquisitions arena, QED Connect is considering becoming a "business development company" as defined under the Investment Company Act of 1940.
For more information about QED Connect, visit www.qedconnect.com
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED Connect, Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital and to fund expansion plans; (ii) generate sufficient revenue and efficiently manage operations to obtain profitability; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.
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QED Connect Inc.
President & CEO
SOURCE QED Connect, Inc.