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For Immediate Release
IWICS, Inc. Announces Availability of Series B Offering
IWICS’ Board of Directors voted to continue the IWICS capitalization plan and has authorized the offering of its Series B Preferred share offering. IWICS is offering a total of 4 million Series B Preferred shares to interested investors. Investors interested in participating in the Series B investment offering can request a Term Sheet by contacting investor relations at ir@iwics.com.
IWICS Inc completed its Series A Preferred Shares offering in December 2004. The amount of funds invested in IWICS via Series A investment totaled $US 5.2 million. Proceeds from the offering are being used for product and patent development and marketing of IWICS ODMA™-based products.
“We are making excellent progress capitalizing the planned execution of IWICS’ business strategy” said David Mendes, Chief Operations Officer of IWICS. “We are enthusiastic about the new products that are currently under development in our labs and their commercial potential for high-speed wireless networks.”
About IWICS, Inc.
IWICS, Inc is creating new capabilities for high-speed wireless communications systems based on its revolutionary, patented Subscriber Relay technology collectively known as ODMA™. IWICS’ Opportunity Driven Multiple Access™ technology delivers unparalleled capability for secure last-mile wireless communication systems that deliver higher throughput, better coverage, and lower cost than existing wireless technologies. ODMA works in conjunction with other wireless technologies such as Wi Fi (802.11) and WiMax (802.16) to greatly improve the performance and efficiency of wireless networks. IWICS has patented its ODMA portfolio in nearly 50 countries and is expanding its coverage throughout the world. Headquartered in Bothell, Washington, USA, IWICS has manufacturing and support subsidiaries in Taiwan, Malaysia and the UK. Parties interested in learning about the benefits of becoming a WIDENET™ ODMA Network Service Provider or discovering more about our products can contact IWICS at sales@iwics.com.
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