Wi-Fi TV Inc. Announces New Ticker Symbol, Stock Split, New Global Business Plan Based on Valuation of YouTube, Service to TVs , Phones and Mobile Devices
Effective Monday, November 13, 2006, the new ticker symbol for Wi-Fi TV Inc. (PINKSHEETS: WTVN) will be WTVI. On the same day, the Company will effectuate a 1-for-500 stock split and begin introducing a new global business plan and expansion of services. Wi-Fi TV Inc. is a pioneer in what it calls Social Internet TV (TM), has been visited on the web from over 180 countries, has delivered a number of Internet firsts, and has been in business since 1994 and publicly traded since 1997.
Wi-Fi TV Inc. cited the following reasons as factors in its corporate decision to effectuate a stock split:
— Wi-Fi TV Inc. believes the new stock structure could potentially enhance shareholder value based on the recent sale of YouTube, a company involved in video delivery over the Internet, for a reported $1.6 billion in Google stock. Wi-Fi TV Inc. believes the new stock structure fits into its new strategic plan to increase the valuation and the perception of the value of the company. — Wi-Fi TV Inc. is introducing a new global business plan beginning Nov. 13, 2006 that it believes will potentially increase its number of registered users, advertising sales, Wi-Fi TV channel sales, and competitiveness with YouTube, MySpace and other social networking and video- based Internet web sites. — Wi-Fi TV inc. will be expanding the delivery of its Social Internet TV(TM) to TVs, cellular phones and mobile entertainment devices. — Wi-Fi TV Inc. will be presenting a series of free global webcasts introducing details of its new business plan, the benefits of owning your own Wi-Fi TV channels, Wi-Fi TV sales opportunities, how to use MyWi- FiParty, the One-Web-World initiative, new Wi-FiTV.com features, and reasons why Wi-Fi TV is emerging as a hot next generation web site for the demographic audience of YouTube and MySpace users. — Wi-Fi TV Inc. will be applying for an OTCQX exchange listing based on its ongoing voluntary release of current financials through PinkSheets.com and other relevant listing criteria. — Wi-Fi TV Inc., and/or subsidiaries, is exploring additional global stock exchange listing opportunities in light of its new stock structure and new business plan. — Wi-Fi TV Inc., as part of its new business plan being introduced starting Monday, Nov. 13, will be seeking to make the company attractive to larger Internet and media companies for possible equity participation, and believes the new stock structure will be more conducive to this plan. — Wi-Fi TV Inc. believes that the introduction of a new ticker symbol and cusip number will tend to reduce any outstanding short positions in the Wi-Fi TV Inc. stock. — Wi-Fi TV Inc. is investing in a major revamping of its web site www.Wi-FiTV.com as well as advertising, and the creation of a Wi-Fi TV channel sales team, all intended to increase company revenue and the company valuation.
About Wi-Fi TV Inc.
Wi-Fi TV Inc. provides a new generation TV delivery platform that has a geographic sphere out-distancing any traditional cable or over-the-air TV broadcaster. Wi-Fi TV is offering subscriptions at only $24.99 per year when prepaid, or $29.99 per year following a 14-day free, no obligation trial period. In addition, Wi-Fi TV offers a five minute free trial with no sign-up required. Wi-Fi TV Channels are available for $25,000 per year (full details are on the web site www.Wi-FiTV.com).
The web site www.Wi-FiTV.com has been viewed from over 180 countries.
Wi-Fi TV has recently introduced a revolutionary new feature aimed at the millions of 18-24 year olds who use the Internet for social networking. It allows up to 25 different guests to see and hear each other in a private MyWi-Fi Party.
Press Relations
Wi-Fi TV Inc. has opened a new content and technology demo room for the press in Newport Beach, California. For further information contact Colby Marceau, (949) 716-9397, info@wi-fitv.com.
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company’s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company’s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. Wi-Fi TV and Social Internet TV are trademarks of Wi-Fi TV Inc. and all rights pertaining to these names are reserved. This press release shall not be deemed a general solicitation.
For further information contact Colby Marceau (949) 716-9397 info@wi-fitv.com
SOURCE: Wi-Fi TV Inc.