AirTouch(R) Announces Capital Infusion in the Amount of $2,000,000
NEWPORT BEACH, Calif., Oct. 25, 2012 (GLOBE NEWSWIRE) -- AirTouch® Communications (OTCQB:ATCH) (www.airtouchinc.com), a supplier of innovative wireless telecommunications devices, today announced a capital infusion in the amount of $2,000,000 by a non-affiliate, accredited investor. Details of the financing were announced in the company's 8K filing on October 24, 2012.
We are extremely pleased to have this additional capital to fund the production of new purchase orders for our SmartLinX™ product line. We believe that this new capital will allow us to accelerate the timetable for delivery of the SmartLinX™ products as well as to facilitate future growth for our Company," stated Hide Kanakubo, CEO, AirTouch.
About AirTouch® Communications
AirTouch® Communications, Inc. is engaged in the development and marketing of patented telecommunications devices capable of converging voice, data, video, security, entertainment and other advanced communications services from various service providers on one piece of hardware. We currently hold three patents for our unique combination of cordless telephone technology and wireless signal amplification which enables consumers and business to access voice, data, and other applications and services over the cellular wireless network. For further information about AirTouch Communications, please visit the web site: www.airtouchinc.com.
In addition to enhancing clarity, even in areas where signal quality is weak, SmartLinX™ saves mobile minutes by using the consumer's landline rather than cellular plan. SmartLinX™ is powerful and versatile, enabling users to dial smartphone contacts directly through their landline while pairing up to eight smartphones on one base unit. SmartLinX™ is also a smart solution for home-based and small businesses, serving up to eight smartphones, with the ability to turn a smartphone into a virtual two-line phone, and built-in conference/intercom functions. In addition, SmartLinX™ can be used as a traditional landline phone even when no smartphone is present.
This press release contains forward-looking statements concerning AirTouch® Communications within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "would," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "projects," "potential" or "continue" or the negative of such terms and other comparable terminology. The forward-looking statements in this press release include statements regarding expectations for our future financial performance, including but not limited to statements regarding the future distribution and sale of our telecommunications devices. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, risks that orders from customers may not increase or continue, absence of significant recurring purchase orders from any customer, the absence of any agreements or commitments at this time on the part of any customer to purchase our telecommunications devices, the risk that our telecommunications devices may not be accepted by the U.S., Latin American or markets in other developing countries and those other risks set forth in our annual report on Form 10-K filed with the SEC on March 21, 2012. AirTouch® Communications cautions readers not to place undue reliance on any forward-looking statements. AirTouch® Communications undertakes no obligation to update any of the forward-looking statements after the date of this release to conform those statements to reflect the occurrence of unanticipated events or otherwise, except as required by applicable law.