TORONTO, April 5 /PRNewswire/ - Polar Wireless Corp. (www.polarwireless.com) (OTCBB:BCDI, Frankfurt:62o) is pleased to announce that it has delivered an initial shipment of 15,000 chip sets for its proprietary mobile roaming solution pursuant to its previously-announced agreement with SKT-Project for delivery to subscribers in Russia. SKT has been appointed as a general distributor of Polar Wireless' products, and utilizes an extensive reseller network in Russia and the former CIS states, including the Ukraine and Kazakhstan. The combined territories currently represent over 350 million wireless subscribers, with forecasts showing this figure to exceed 400 million wireless subscribers in 2014 (IEMR Mobile operator forecast). Under the agreement, Polar Wireless is expected to ship a total of 50,000 chip sets to SKT with repeat orders expected to fill SKT's pre sold demand.
"With SKT's extensive distribution and established reputation for quality, we look forward to forming a strong partnership with SKT and achieving our mutual objectives. This initial shipment of chip sets is the first step in that direction," said G. Kelly O'Dea, CEO of Polar Wireless.
SKT's sales model is to offer the Polar Wireless chip set as a point of purchase item with prepaid roaming included and which is compatible with all Russian telcos. Payment for the chip sets may be made through U Cash Payment Systems and all major credit card options. Replenishment of a subscriber's Polar Wireless account may also be completed through the Polar Wireless website using all major credit cards.
About Polar Wireless
The Company is a mobile virtual network operator (MVNO) that works in conjunction with established major mobile service providers. The Company's mobile solution will significantly reduce mobile roaming charges. It is operable in 213 countries through partner networks. This provides the first global network solution for mobile users to dramatically reduce roaming surcharges while allowing users to maintain their current home number, handset and carrier relationship.
Safe Harbor Statement
Except for statements of historical fact contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and may involve a number of risks and uncertainties. Forward-looking statements are based on information available to the Company's management as of the date hereof, and they involve judgments and estimates. Forward-looking statements include expressions such as "believe," "anticipate," "expect," "estimate," "intend," "may," "plan," "predict," "will," and similar terms and expressions and include but are not limited to, the ability of the Company to raise additional capital to finance its operating activities, the effectiveness, profitability and marketability of its products, the future trading of its securities, the ability of the Company to operate as a public company, the period of time during which its current liquidity will enable the Company to fund its operations, its ability to protect its proprietary information, the general economic and business environment and conditions, the volatility of the operating results and financial condition of the Company, the ability to attract and retain qualified senior management personnel and research and development staff of the Company, and other risks and uncertainties disclosed in the filings of the Company with the Securities and Exchange Commission.
SOURCE Polar Wireless Corp.