ERF Wireless (OTCBB:ERFW), a leading provider of enterprise-class wireless and broadband products and services, announced today that, through an affiliate of the company, it has signed a contract to acquire the largest transmission tower facility in Galveston County, Texas to serve as the wireless transmission hub for most of the ERF Wireless banking and wireless broadband networks in the southeastern part of Texas. The 1,120-foot tall tower and associated real estate is situated in an area just south of Houston and provides a direct line-of-sight path to a circular ground level footprint ninety miles in diameter that includes all the cities in three counties, with a total population base of more than 5 million people. The company indicated that this new tower facility acquisition contract has been under negotiation for more than a year.
Dr. H. Dean Cubley, CEO of ERF Wireless, commented, "We're looking forward to having this new tower and wireless hub facility available to support our overall wireless initiative in the Southeast Texas area. This new acquisition will make it much easier and more cost-effective for ERF Wireless to serve our banking customers, as well as our wireless broadband customers, who are within line-of-sight of this tower. We'll eliminate much of the costly infrastructure required to get these customers online and increase ERF Wireless' margins. This acquisition, coupled with our earlier tower and wireless broadband property acquisitions and our tower usage agreement with the State of Louisiana, gives ERF Wireless tower facilities that already cover the key population centers of two states."
Dr. Cubley went on to note, "ERF Wireless is making great progress in implementing its strategy of growing both its one-time and recurring revenues in the banking and wireless broadband markets. Within the past three years, we've secured contracts for five regional banking BranchNet networks in three states generating both one-time as well as recurring revenue. We've acquired eight wireless broadband companies that serve thousands of customers and provide a significant recurring revenue base as well as technical support for our banking networks. We're also continuing to build statewide BankNet wireless networks in two states that ERF Wireless owns and operates, including the one that we are building in conjunction with the Louisiana State Police to serve our Louisiana banking customers. In addition, ERF Wireless is generating significant separate project revenue through our international fiber-to-the-home initiative."
Looking forward, Dr. Cubley noted, "Over the next few months, we believe the company will continue to grow its revenue base by securing additional banking contracts, the acquisition of additional accretive revenue producing wireless broadband companies, and the internal growth of our existing wireless broadband customer base through aggressive marketing and sales. In addition, ERF Wireless expects to obtain additional fiber-to-the-home contracts based on our initial contract success in this very specialized technology. We also anticipate completing a major portion of our statewide Louisiana network over the next year. ERF Wireless also anticipates that in the near future it will start to generate additional revenue from its proprietary technology through new areas of application. Finally, given the continued successful growth of the company and assuming a corresponding appreciation of our share valuations, the company will aggressively seek a listing on a national exchange just as soon as the listing requirements are achieved."
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation (OTCBB:ERFW) that specializes in providing secure wireless and broadband product and secure service solutions to banking and commercial clients on a national and international basis. Its principals have been in the network integration, triple-play FTTH, IPTV content delivery, and Internet banking and encryption technology businesses for over 20 years and have constructed encrypted, wireless broadband networks, fiber-to-the-home projects, as well as secure Internet banking solutions for hundreds of banks across America. For more information about ERF Wireless, please visit www.erfwireless.com or call 281-538-2101. (ERFWG)
Forward-looking statements in this release regarding ERF Wireless Inc. are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
