Stock Quotes Help Network - Wireless Age Communications, Inc. Sells Midland Trademark
Wireless Age Communications, Inc. Sells Midland TrademarkTORONTO--(BUSINESS WIRE)--Nov. 30, 2004--Wireless Age Communications, Inc. (OTCBB:WLSA) (Wireless Age) announces that it has sold the "Midland" trademark to a newly formed corporation controlled by Scott Henderson for a minimum royalty stream of $500,000 over the next five years. Wireless Age acquired the trademark in its acquisition of Prime Wireless Corporation in March 2003. The new entity will utilize the trademark to promote, sell and distribute land mobile radio products worldwide except for the continental territories of the United States of America and Canada.
Scott Henderson is a senior industry leader with 30 years experience in the Land Mobile Radio industry, and has prior work history with Vertex Standard, Relm BK Radio, Uniden America and had a 20 year relationship with Midland International Corporation of Kansas City, Mo.
John G. Simmonds, Chairman and CEO of Wireless Age commented, "The Midland LMR trademark is a very well known name in the Commercial Communication industry. The Midland LMR trademark became famous in the mid 80's with the introduction of the first synthesized Public Safety Land Mobile Radio."
Scott Henderson stated, "Acquiring the Midland LMR name and Trademark is the first step in a planned process of rebuilding the Midland LMR products on a worldwide basis."
About Wireless Age Communication Inc.
Wireless Age Communications Inc. operates three Strategic Business Units (SBUs). They consist of Wireless Age for the retail sector, Wireless Source covering wholesale/distribution and Wireless Works is the Company's networks and engineering division.
Wireless Age retail outlets market and sell next generation wireless products and services. Wireless Source distributes prepaid phone cards, wireless accessories, land mobile radios, batteries and ancillary electronics products throughout North America. Wireless Works operates broadband public access and private networks and develops and deploys consumer and commercial products for use on those networks.
Wireless Age's retail operations (Wireless Age) are conducted through its 94% owned subsidiary Wireless Age Communications, Ltd. Wholesale operations (Wireless Source) are conducted through its wholly owned subsidiaries Wireless Source Distribution Ltd., Marlon Distributors Ltd., Prime Wireless Corporation and the A.C. Simmonds and Sons operating division. Networks and engineering operations (Wireless Works) are conducted through agreements with Knowlton Pass Electronics Inc. and Maxtel Wireless Inc.
Wireless Age has an investment in RELM Wireless Corporation which manufactures and markets high-specification two-way communications equipment for use by public safety professionals and government agencies, as well as radios for use in a wide range of commercial and industrial applications. Advances include new low-cost digital portable two-way radios compliant with APCO Project 25 technical specifications. Products are manufactured and distributed worldwide under BK Radio, RELM and Uniden PRC brand names.
Wireless Age has an investment in Azonic Corporation which plans to market low cost, wireless devices including cellular phones. One such phone is designed to be located in glove boxes, first aid kits and emergency supply packages and used for emergency purposes. Another is a prepaid wireless phone designed to be used in the low cost and short-term usage markets.
For additional information about Wireless Age Communications Inc. or its subsidiaries, please visit our website at www.thewirelessage.com or review our periodic filings with the Securities and Exchange Commission at http://www.sec.gov.
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Wireless Age Communications, Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that we will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; our ability to retain key management and employees; intense competition and our ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirement and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Wireless Age Communications, Inc.'s SEC filings. Wireless Age Communications, Inc. undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Wireless Age Communications, Inc.'s business, please refer to the risks and uncertainties detailed from time to time in Wireless Age Communications, Inc.'s SEC filings.
WIRELESS AGE COMMUNICATIONS, INC. (OTC Bulletin Board:WLSA)
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