Balance Sheet Debt Would Be Reduced
HOUSTON, TX--(Marketwire - 01/05/10) - SatMAX Corp. (Pinksheets:SATM - News), a leading global provider of wireless, non-line-of-sight satellite communications products and services to the $46 billion ground-based satellite communications industry, announced today that it has developed a financing plan for 2010 that restructures and eliminates approximately $800,000.00 in debt the company has acquired since its inception. The successful conclusion of this restructuring would significantly improve the company's balance sheet and should enable to company to strike more favorable terms with vendors and suppliers.
The year 2009 was important for SatMAX. The company negotiated deals with big names in the defense industry, government entities and important resellers. Some heavy hitters of 2009 include: completing two equipment deliveries to ITT for satellite installations and equipment; and the year-end signing of an agreement with SBA 8(a) certified TLC Engineering, allowing for SatMAX equipment to be introduced to Federal agencies and emergency response teams in the Houston/Gulf Coast region. The acquisition of these high profile partners is designed to lead to an increase in consumer awareness overall of SatMAX products.
SatMAX� is an advanced communications system that enables users to quickly and easily make fully wireless, satellite voice and data communications available from any non-line-of-sight location. With SatMAX�, customers have the ability to access dependable and uninterrupted satellite communication from indoor locations. Available as both fixed and mobile units, SatMAX� creates a satellite communications "hotspot," allowing maximum flexibility by enabling multiple callers to use Iridium-based satellite phones in both indoor and outdoor settings.
About SatMAX
SatMAX Corporation is dedicated to providing global wireless, non-line-of-sight, satellite voice and data communications links to government, military, and commercial and industrial customers. For more information, please visit www.echosatcom.com; or view our product information video at www.angelvisiontech.com/clients/echo_satellite.
VOD Newswire Video Format: http://vodnewswire.com/vodnewswire/news/satmax-corp-20100105/
Forward-Looking Statements
Certain statements contained in this release issued by SatMAX Corporation (the "Company") that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are statements regarding the intent, belief, or current expectations, estimates, or projections of the Company, its directors, or its officers about the Company and the industry in which it operates and are based on assumptions made by management. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment