St. Augustine, FL (PRWEB) March 21, 2011
O2 Secure Wireless, Inc. (Pink Sheets: OTOW - News) announces that the Company’s Chief Executive Officer, Val Kazia has returned his personal 500 million shares back into the Company’s treasury.
By retiring the O2 Wireless shares, it’s the Company’s objective to substantially refine the Company’s capitalization structure and position O2 Wireless’ structure to more accurately represent the Company’s commitment to becoming a key player in rural broadband communications; particularly in underserved territories.
This course of action is intended to contribute to an increase in shareholder value by decreasing the number of outstanding common shares. The CEO will alternatively be issued preferred shares in exchange.
"As we have been working diligently to increase O2 Wireless's Asset value, we felt that the time had come to put away what was necessary to reduce and consolidate our capital structure. This is a bold representation of the confidence we have in the potential of the Company and the unyielding commitment that we intend to demonstrate in the development of its success." stated Val Kazia, President, Earthcom Service Inc.
The Company recently announced an approval from the Federal Communication Commission for its COALS (Cable Operations and Licensing System) applications. This places O2 Wireless in the highly competitive arena and makes it a strong competitor for well-known brands like Brighthouse Networks and AT&T. This approval also contributes substantially to the company’s establishment as a viable third content provider in the territories of the City of Flagler Beach and the City of Bunnell, Florida, which would be serviced by O2 Wireless.
About O2 Secure Wireless: O2 Secure Wireless is a company that is currently developing numerous wireless tower facilities in the U.S. The Company is also instrumental in the development of wireless broadband communication services domestically. Under a recent merger with Earthcom Service Inc., the Company is currently being structured to provide affordable flat rate pre-paid wireless services in developing countries internationally.
Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.
For more information visit our website at http://o2securewireless.com or contact Investor Relations: Gibraltan Financial (407)830-9777
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