Global Triad, Inc. Announces Recession of the Agreement to Purchase the Assets of JBE Technology, Inc.17 June 2005
GLOBAL TRIAD, INC. (Other OTC:GTRD.PK - News), traded on the Over the Counter Pink Sheets, announced today that it has rescinded the agreement previously announced on June 8th, 2005, to purchase the assets of JBE Technology, Inc. Both Companies have decided that pursuing the asset purchase would not be in the best interest of their respective shareholders.
Mr. Anthony Mellone, Executive Vice President of Global Triad, stated, "It is with much regret that we could not overcome some obstacles in our negotiations with JBE. We wish them a lot of success in the future."
Global WiFi Plus, Inc., the wholly owned subsidiary of Global Triad, will continue to pursue other relationships that will accentuate the goals of the Company to be driving force in the wireless broadband services industry.
About Global WiFi Plus, Inc.
Global WiFi Plus, Inc. is a full service Internet access provider specializing in 802.11 high-speed wireless Internet activation of entire cities through its "Packet Hopping" mobile mesh network that provides a seamless peer-to-peer connectivity service from hot-spot to hot-spot and is compatible with all participating WiFi hot-spot technologies and will be backwards compatible with the upcoming 802.16 WiMax technology standard.
About Global Triad
Global Triad Incorporated (GTI), trading on the Over The Counter Pink Sheets under the symbol GTRD, is a holding company with its headquarters in Ft. Lauderdale, Florida. It is the Company's intent to become a leading force in the digital communications sector through a combination of organic growth and mergers or acquisitions of complementary businesses. At this time, GTI owns and operates three subsidiaries: Global TV, Inc. (GTV), Global WiFi Plus, Inc. (GWP), and Global Telco, Inc., all Florida Corporations. The primary business of GTV is the aggregation and delivery of a wholesale, end-to-end wireless digital communications system and TV Production utilizing both Internet Protocols (IP) and proprietary digital devices. The primary business of GWP is the installation, operations, and customer support of Global's next generation 802.11 "WiFi Plus" wireless high-speed broadband technology. The primary business of Global Telco, Inc. is to manage the sales, marketing, and support of GTI's telecommunications and VoIP products. The company will offer over wireless high-speed networks a "Triple Play" consisting of Voice over Internet telephony (VoIP), high-speed Internet data delivery and true Video-On-Demand (VOD). Both the Internet and VOD will be accessible through the consumer's television. The VOD content will appear at 30 frames-per-second, the industry standard for television.
Safe Harbor
Forward-looking statements made in this release are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made by Global Triad, Inc. are not a guarantee of future performance. This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Global Triad and Global TV, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of technical personnel, changes in technology and competition.
Contact:
For Investor Relations information,
Contact:
Harrison, Elliott, & Brown LLC
Henry Harrison
(407) 862-5151
Email Contact
http://www.insidewallstreet.com
Company web site:
http://www.globaltriad.net
http://www.jbtech.net
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Source: Global Triad, Inc.
Source: Market Wire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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