FREMONT, Calif., April 24, 2018 /PRNewswire/ -- Aerkomm Inc. (OTCQX: AKOM) ("Aerkomm" or the "Company") today announced that it is correcting its previously announced global network of connectivity partners to not include Global Eagle Entertainment's ("Global Eagle") network partner Malindo Air at this time. Aerkomm, through its wholly owned operating subsidiary, Aircom Pacific, Inc. ("Aircom"), is a development stage service provider of in-flight entertainment and connectivity solutions for the airline industry.
In a previously published release, Aircom announced that it had entered into a letter of intent with Global Eagle, a leading global provider of satellite-based connectivity and media, to provide connectivity solutions to Global Eagle's partner network, including to Malindo Air, a Malaysian-based regional airline as the initial targeted deployment.
Jeffrey Wun, CEO of Aerkomm said, "The collaboration with Global Eagle and its network partners has not been finalized. While we continue to work with Global Eagle in anticipation of providing services to its network partners, it was premature for us to include Malindo Air in the previously published release."
The previously reported MOUs are all nonbinding and as a result, they only express the desires and understandings between the parties and do not create any legally binding rights, obligations or contracts except for certain customary provisions such as exclusivity, costs and expenses, confidentiality and governing law. The Company cannot provide any assurances that any of these previously announced MOUs will lead to a definitive agreement.
About Aerkomm Inc.
Aerkomm Inc. (OTCQX: AKOM), operating through its wholly owned subsidiary, Aircom Pacific, Inc., is a development stage service provider of in-flight entertainment and connectivity solutions for the airline industry. The Company strives to become a leading provider of a wide range of in-flight broadband entertainment and connectivity services, including Wi-Fi connectivity, cellular networks, movies, gaming, live television, and music. Aerkomm aims to reshape the market for in-flight entertainment and connectivity services by offering on-board connectivity to its airline partners and passengers for free, generating revenue through advertising and on-board transactions.
More information about Aerkomm is available at www.aerkomm.com.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Registration Statement on Form S-1 filed with the Securities and Exchange Commission (SEC File No. 333-222208) on December 20, 2017, as amended most recently on April 12, 2018 and declared effective on April 13, 3018. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Investor Relations Contacts:
Jeremy Roe, Managing Partner
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+1 (925) 262-8305
SOURCE Aerkomm Inc.