SOURCE: O2 Secure Wireless, Inc.

March 14, 2011 07:44 ET

O2 Secure Wireless, Inc. Confirms the Retirement of 500 Million Common Shares

Official Notification Received From Transfer Agent Regarding the Settlement of 500 Million Shares Back Into the Treasury

ST. AUGUSTINE, FL--(Marketwire - March 14, 2011) -  O2 Secure Wireless, Inc. (PINKSHEETS: OTOW) announces that the Company's Chief Executive Officer, Val Kazia has returned his personal 500 Million Shares back into the Company's treasury.

By retiring the O2 Wireless shares, it's the Company's objective to substantially refine the Company's capitalization structure and position O2 Wireless' structure to more accurately represent the Company's commitment to becoming a key player in rural broadband communications; particularly in underserved territories.

This course of action is intended to contribute to an increase in shareholder value by decreasing the number of outstanding common shares. The CEO will alternatively be issued preferred shares in exchange. 

The Company recently announced an approval from the Federal Communication Commission for its COALS applications. This places O2 Wireless in the highly competitive arena and makes it a strong competitor for well-known brands like Brighthouse Networks and AT&T. This approval also contributes substantially to the company's establishment as a viable third content provider in the territories of the City of Flagler Beach and the City of Bunnell, Florida, which would be serviced by O2 Wireless.

The OTC Markets website will be updated very shortly, stated Val Kazia. President/CEO.

About O2 Secure Wireless: O2 Secure Wireless is a Company that is currently developing numerous wireless tower facilities in the U.S. The Company is also instrumental in the development of wireless broadband communication services domestically. Under a recent merger with Earthcom Service Inc., the Company is currently being structured to provide affordable flat rate pre-paid wireless services in developing countries internationally.

Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.

For more information visit our website at or contact Investor Relations: Gibraltan Financial (407)830-9777.

Contact Information