CARSON CITY, NV, Jan. 28 /PRNewswire-FirstCall/ - Barricode Inc (BCDI-OTCBB) (62o Frankfurt), signs definitive agreement to acquire all the Intellectual Property (IP) and business processes of 2230354 Ontario Inc. The company's technology has the capability of reducing long distance and roaming charges for mobile phone users.
2230354 Ontario Inc is based in Canada, the company has over the past three years developed a unique IP process that can reduce users mobile telephone bills while roaming and making out of area calls. This new technology will be further developed by Barricode, and anticipated to be commercially available to consumers in Q2 2010.
There are approximately 700 million mobile users who travel outside their home calling area at least once a year thereby exposing themselves to higher voice, data and long distance charges from their carriers. Barricode's acquired technology will offer mobile phone users an option whereby their roaming and out of area charges will be dramatically reduced.
Barricode intends to change its name to Polar Wireless to better reflect the business of its recent acquisition; the name change will be subject to shareholder approval.
Polar Wireless anticipates providing coverage in every major country in the world with its proprietary solution on a pre paid basis.
The company plans to launch this new service globally in Q2 2010.
Barricode is no longer acquiring the Intellectual Property (IP) and process of Azura Stem Cell Technologies Ltd. as previously announced in 2009.
Barricode is developing an Internet security system that allows clients to safely store and access sensitive data and information in the most secure encrypted format worldwide.
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend", "dramatically" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Barricode's filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to the ability of the company to control product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Barricode's website does not constitute a part of this release.
SOURCE Barricode Inc