CARLSBAD, Calif., May 6, 2004 (PRIMEZONE) -- VoIP MDU.COM (Pink Sheets:VPMD) today announced that it has acquired 100% of Sports, Entertainment & Learning Network Inc. (SE&L), a private Nevada holding company, which in turn has controlling interest in N2itive Technologies Inc., a Calgary-based company possessing proprietary technologies and a portfolio of current contracts for ongoing business. N2itive Technologies provides turnkey, online, real time broadband data services via networks of informational kiosks for a wide range of international governments, retail, medical, educational institutions and non-profit organizations.
N2itive Technologies was awarded a Government of Canada contract in conjunction with its Community Access Program (CAP) after a worldwide tender call as the successful bidder with the best technology available. The Federal program is a pilot project featuring broadband development for rural and northern areas in locations where there is no current access to DSL or cable modem service. The CAP Kiosk Program will essentially bring the Internet to thousands of communities throughout Canada with direct links to all Federal Government Departments, with access to municipal and provincial governments as well. The CAP Kiosk Program calls for an initial 500 kiosks with a total of 10,000 locations earmarked for eventual connection. The CAP Kiosk Program site portal initial budget is projected at an initial $ 14,900.000 Cdn. per year and will quickly expand as budgets are augmented from the various governmental departments. Early estimates indicate that an additional $38,000,000 Cdn. (not included in the above contract value total) would be added to the program after the first year of operation.
VoIP MDU.COM has identified several additional revenue streams from the national CAP Kiosk Program that all involve the movement and delivery of value-added, fee-based products, services and content throughout this far-reaching network of terminals. The most prominent additional revenue stream would be derived from combined configurations of terminals and ATMs. Many of these remote, rural and northern communities have been faced with the removal of financial services by the contraction of bank locations over the past five years. In addition to the CAP Kiosk Program, N2itive Technologies has $21,500,000 Cdn. worth of current contracts involving broadband connectivity software programs and kiosks for several retail, educational, medical and communications companies that will be announced in detail at a later date.
VoIP MDU.COM is presently preparing financing for the initial stage of 500 kiosks, from which the revenue stream will immediately commence once the centers are connected and operational. The Company's venture partner, INSINC, will provide the infrastructure required to utilize VoIP technology along with the broadband broadcasting for the CAP Kiosk Program. INSINC (www.insinc.com) is one of the largest specialty service carriers in Canada focusing on media and corporate webcast communications over TCP/IP infrastructures. It offers live event services, wide area network connections, fiber installations and video delivery systems.
Additional announcements will be made as the Company proceeds with this important acquisition. VoIP MDU.COM is a broadband VoIP telecom company offering VoIP telephony solutions, equipment, gateways and discount local and long distance VoIP services and video on demand to a wide range of customers, business owners and multiple dwelling units. For more information, please contact: Richard Kipping at (604) 723-8750.
Safe Harbor:
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Some information included in this press release contains statements that are forward-looking. Such forward-looking information involves significant risks and uncertainties that could affect anticipated results in the future and accordingly, these results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. For a description of additional risks and uncertainties, please refer to the Company's filings with the Securities and Exchange Commission. (http://www.sec.gov), including the Company's recently filed From 10KSB.