MANCHESTER, N.H., Nov. 9, 2011 /PRNewswire/ -- QED Connect, Inc.
(OTC: QEDN.PK) ("QED Connect"), today announced that it has entered
into an agreement to acquire a 15% stake in a Mobile Over Internet
Protocol (MOIP) application owned by a Canadian distribution
company. In addition, QED Connect will receive an ongoing
royalty on total sales in exchange for providing funding and acting
in an advisory capacity regarding marketing strategies and tactics.
The definitive agreement is scheduled to close within 45 days
contingent on approval of the respective companies' Boards of
Directors. Additional information will be released this
quarter.
In addition to mobile data services the application utilizes the
data channel to provide telephone service for mobile wireless users
offering a cost effective alternative to cellular technology.
The Company's proprietary IP-based telecommunication platform
will offer wireless services to consumers, small business and
enterprise customers in the Canadian market at a substantial
reduction in cost.
Canadians pay the highest mobile bills in the world according to
Wireless North.ca and a CTIA survey. Many cellular operators
offer unlimited usage at a fixed price, however, coverage
limitations and roaming restrictions often push actual costs to
more than double the initial signup fees. The proprietary
Knowledge Management System and exclusive wireless application
provided by the Canadian company will offer a competitive
alternative for the wireless customer.
Tom Makmann, President and CEO of
QED Connect stated, "Our new partner is uniquely positioned in this
very exciting market to provide, for the first time, an alternative
to expensive traditional wireless service. In addition to the
Canadian market, the technology can be adapted to other areas where
cellular service is either not available or expensive to implement.
QED is very enthusiastic to be working with the Company and
believes that they will be a contributor to our strategic plans.
They have projected to reach revenue generation of
$5 million per month within the next
two years. This agreement continues QED Connect's commitment to
becoming a 'business development company' in 2012."
About QED Connect, Inc.
QED Connect, Inc. makes acquisitions, investments, and enters
into strategic business partnerships with businesses that have
strong potential. We seek joint ventures and strategic alliances in
which we can assist our partners in achieving their plans and
realizing their maximum potential. QED Connect's current
investments and joint ventures include:
- Sofame Energy, Inc., a joint venture with Sofame Technologies,
has sold the custom-designed "Hybrid Percomtherm®" boiler which
recovers boiler flue gas heat from existing boilers and recycles
the heat, thereby leading to overall energy efficiency. Sofame
Technologies has announced $1.4
million of orders for the Hybrid Percomtherm boiler in the
past 6 weeks.
- Nazz Productions, a movie producer. Nazz's feature film,
"Good Day For It", won Favorite Feature at the 2011 Sonoma
International Film Festival and opened theatrically in Los Angeles in July. Nazz expects the film to
be released on DVD and video on demand later this year.
- StockProfile.com, a media awareness company which operates a
customized platform showcasing emerging growth stocks to
independent investors. In June 2011,
QED Connect purchased 100% of the assets of StockProfile.com.
- Kaleidoscope Venture Capital, Inc. technology distributes
multiple DIRECTV satellite signals to customers on a single wire
when coupled with DIRECTV-developed technology. The central
dish system allows for a single compact dish antenna assembly to
serve all the units in an entire building complex.
As a result of its continued success in the mergers and
acquisitions arena, QED Connect is considering becoming a "business
development company" as defined under the Investment Company Act of
1940.
For more information about QED Connect, visit
www.qedconnect.com
Safe Harbor Statement
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
may be identified by the use of words such as "anticipate,"
"believe," "expect," "future," "may," "will," "would," "should,"
"plan," "projected," "intend," and similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of QED Connect, Inc. (the
"Company") to be materially different from those expressed or
implied by such forward-looking statements. The Company's
future operating results are dependent upon many factors, including
but not limited to the Company's ability to: (i) obtain sufficient
capital and to fund expansion plans; (ii) generate sufficient
revenue and efficiently manage operations to obtain profitability;
(iii) competitive factors and developments beyond the Company's
control; and (iv) other risk factors.
For More Information, Contact:
QED Connect Inc.
Tom Makmann
President & CEO
(603) 425-8933
info@qedconnect.com
SOURCE QED Connect, Inc.
