SOURCE: Broadspot World Wide Wireless, Inc.

November 24, 2008 08:13 ET

Broadspot World Wide Wireless Acquisition of Worldwide Communications Carrier-Grade Microwave Towers Should Aid in U.S. Department of Agriculture $2 Billion Funding Initiative

EUREKA, CA--(Marketwire - November 24, 2008) - Broadspot World Wide Wireless (PINKSHEETS: BWWD) has executed a definitive agreement to acquire forty ("40") carrier-grade microwave towers originally constructed by AT&T and MCI, from Worldwide Communications, Inc. The towers purchased, valued at $2,000,000, are part of a 22 state network spanning the continent and are located in Tier III markets. Broadspot intends to have joint venture arrangements with all of the publicly traded companies acquiring towers in the network and in connection with those joint venture arrangements will have immediate access to all required products and services to deploy broadband Internet access. This will enable Broadspot to acquire Motorola/Canopy equipment at carrier level pricing.

The acquisition will contribute significant advantages in Broadspot's application for funding from the U.S. Department of Agriculture RUS Funding Program. The RUS Funding Program, approved by Congress in 2002, provides for the issuance of more than $2 Billion in funding for the development of broadband Internet services throughout America's Heartland.

The acquisition of "vertical real estate" is a critical component of our plan to acquire existing Wireless Internet Service Providers (WISPs) and provide low cost connectivity in conjunction with aggressive marketing and additional value added services to build a significant customer base," said Nyhl Henson, CEO of Broadspot.

About Broadspot World Wide Wireless, Inc.

Broadspot was founded for the purpose of acquiring existing privately held cash flow positive WISPs in markets with little or no competitive broadband availability to deploy fixed wireless broadband networks. The Company's objective is to gradually convert existing dialup customers to broadband service and deploy Voice Over Internet Protocol ("VoIP") telephony service and made-for-Internet content.

About Worldwide Associates, Inc.

WWAI purchased the towers out of bankruptcy from Corban Networks and is orchestrating the formation of a synergistic alliance of publicly traded companies that will own and operate the nationwide network. All of the companies participating in the joint venture agreement are actively involved in the deployment and/or support of wireless broadband Internet services.

Forward-Looking Statements

This release includes "forward-looking statements" from the Company that may or may not materialize and recipients are cautioned not to place undue reliance upon them. These forward-looking statements are subject to a number of known and unknown risks and uncertainties outside of our control that could cause actual operations or results to differ materially from those anticipated. It is important to note that actual results could differ materially from those in such "forward-looking statements" and "forward-looking statements" are inherently subject to risks and uncertainties. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.

Contact Information

  • Contact:

    Nyhl Henson
    Phone: 310-316-8950