Platforms Wireless International Issues Corporate Status Update
January 29 2013 - 8:30AM
Marketwired
Platforms Wireless International Corporation (PINKSHEETS: PLFM)
announced today the company has completed and published its
unaudited financial statements through the quarter ending September
30, 2012. The Statements have been submitted to OTC Markets for
compliance with corporate information disclosure requirements. The
Company has also updated its registration licenses, to place it in
a position to capitalize on the value of its significant Net
Operating Loss (NOL) carry forward, estimated to be in excess of
$72 million. Following the filings, the Company's reporting status
with OTC Markets was upgraded to OTC Pink Current Information.
At present, PLFM is considering and pursuing qualified suitors
interested in acquiring or merging with the Company to benefit from
its $72 million NOL, as well as its experience in emergency
response communications system products and technology. The Company
has been in communication with several possible merger/acquisition
candidates. Preliminary discussions have been held with these
companies, but no final decisions or offers have been made at this
time.
Considering the current and ongoing changes in the IRS Code, the
Company's NOL is, in the opinion of management, a viable and
increasingly valuable asset that should prove attractive to
qualified suitors. The Company is presently interested in and
pursuing an appropriate merger, acquisition, product infusion,
strategic alliance, or outright corporate sale.
As developments warrant, the Company will issue further updates
on its activities and status.
Safe Harbor Disclosure Statement
This press release may contain "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995,
which are based on the Company's current expectations, estimates,
and projections about possible future events. These include, but
are not limited to statements, if any, regarding business plans and
efforts related to the Company's Net Operating Loss (NOL) Carry
Forward, recent transactions, pro-forma financial statements,
financial projections, the Company's ability to realize its
business plan, growth, and efficiencies through the activities
discussed herein, and the possible impact of those projected
transaction on the Company's capital position, earnings, and market
viability. These statements are not historical facts or guarantees
of future performance, events, or results. Accordingly, such
statements involve risks and uncertainties, and actual results
achieved may differ materially from the Company's expectations and
projections. The Company and its agents, do not undertake any
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. For additional factors that may affect future
results, please see filings and statements registered by the
Company with OTC Markets.
Company Contact: Ronald B. Minsky Chief Operating Officer (908)
216-2787 Email Contact
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