SOURCE: AccessKey IP, Inc.

November 06, 2007 05:00 ET

AccessKey IP, Inc. Announces Completion of Significant Share Reacquisition

ALBUQUERQUE, NM--(Marketwire - November 6, 2007) - AccessKey IP, Inc. (PINKSHEETS: AKYI), the developer, designer and producer of advanced entertainment and communication devices, today announced that its Board of Directors has reached agreement with five of its larger shareholders to reacquire 61,480,788 shares of the company's common stock. This action will reduce the Company's outstanding shares by 15.4% to 338,436,632 shares. It is further estimated that the outstanding float has been reduced by approximately 26%. More than 1/2 of these shares have already been returned to the stock transfer agent for retirement.

George Stevens, CEO of AccessKey IP said, "I am extremely pleased to be able to announce the finalization of this highly anticipated transaction. By returning well over 61 million shares of stock to our Treasury, these agreements immediately give AccessKey IP's shareholders increased value for those shares held in the public marketplace. This major change in our capital structure, in conjunction with several significant pending announcements, represents genuine progress in our efforts to finally begin rewarding our loyal and patient investor base."

About AccessKey IP, Inc.

AccessKey IP, Inc. is a developer of cutting-edge technologies and best-of-breed products tailored to address the market opportunities created by the explosive growth of digital communications, entertainment-related services and specific consumer electronics platforms.

AccessKey IP's AccessKey™ products, powered by the Company's patented technology, provide complete access to the coveted "Triple Play" (voice, video and data) and "Quadruple Play" (voice, video, data and wireless) offerings of cable, telecom, satellite and broadband service providers. The Company's AccessKey Home™ and portable flash drive-sized AccessKey PC™ allow subscribers to "channel surf" streaming "HD Quality" television content (IPtv), navigate the internet, watch Video on Demand (VOD) offerings, play video or internet-based games, listen to music, make phone calls (VoIP), video conference, run a full array of computing applications, securely store data and more, all from a single device and service provider network.

Forward-Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of AccessKeyIP, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Contact Information

  • FOR INVESTOR INQUIRIES
    Please visit the Company's website:
    www.accesskeyip.com
    Contact:
    Bruce Palmer
    310-734-4254