Name Change to Corridor Communications Corp.
01 April 2004 - 5:22AM
PR Newswire (US)
Name Change to Corridor Communications Corp. Amnis Systems, Inc.
Has Completed Its Name Change to Corridor Communications Corp. (OTC
Bulletin Board: CORR) MOUNTAIN VIEW, Calif., March 31
/PRNewswire-FirstCall/ -- Amnis Systems Inc. (BULLETIN BOARD: AMNM)
(the "Company"), has completed its name change to Corridor
Communications Corp. and has been designated a new symbol for the
Over the Counter Bulletin Board. The symbol is CORR. The Company
intends to complete its pending strategic acquisition of all of the
assets of Corridor Communications ("Corridor-Oregon") a private
Salem, Oregon based corporation. Corridor-Oregon is a Wireless
Internet Service Provider providing high-speed ubiquitous
connectivity to single family homes, businesses and hotspots.
Corridor-Oregon's main goal is to un-tether Internet users from
their wired connection and provide an "any where every where"
802.11 connection using both 2.4 GHz and 5.7 GHz wireless options.
The terms of the acquisition will be disclosed once a formal
agreement is reached between the companies. "We believe the WiFi
business model as deployed by Corridor-Oregon is the opportunity
our company needs to build revenue and solid growth for our
shareholders. By acquiring Corridor-Oregon, we believe we will be
able to deploy our unique service to selected cities," said Scott
Mac Caughern, Chairman of the Company. The Company has also
recently entered into a letter of intent to acquire the assets of
Ashcreek Wireless, whichwill extend the areas that the Company will
be serving after it has acquired the assets of Corridor-Oregon. The
terms of the acquisition will be disclosed once a formal agreement
is reached between the companies. At this time we cannot provide
any guarantee that we will be able to complete the transaction, as
the transaction is subject to due diligence and the negotiation and
finalizing of a definitive agreement. "Corridor-Oregon has been
building out the Salem area in what we call our Hot Zones
orCorridors. Today our services can be deployed to nearly 50,000
homes and we are back filling into un-served areas daily. If the
Company is able to finalize its acquisition of Corridor-Oregon and
Ashcreek, not only will the Company be getting subscribers and
revenue but also some of the best tower locations in the community
that will extend the Company's coverage area by nearly 20,000
homes," said J. Michael Heil, President of Corridor-Oregon. About
Amnis Systems/Corridor Communications Amnis Systems Inc., which
acquired Optivision, Inc. in 2001, until it recently ceased
operations, had been engaged in the networked streaming video
market. The Company is currently attempting to finalize a definite
agreement with potential acquisition candidates or, in the
alternative, locate and negotiate with business entities for the
merger of those target businesses into the Company. The Company may
seek a business opportunity with entities which have recently
commenced operations, or wish to utilize the public marketplace in
order to raise additional capital in order to expand into new
products or markets, to develop a new product or service, or for
other corporate purposes. No assurances can be given that the
Company will be able to enter into a business combination, as to
the terms of a business combination, or as to the nature of the
target business. "Safe Harbor" statement under the Private
Securities Litigation Reform Act of 1995: This release contains
forward-looking statements that are subject to risks and
uncertainties, including, but not limited to, the impact of
competitive products and pricing, product demand and market
acceptance, new product development, reliance on key strategic
alliances, availability of raw materials, the regulatory
environment, fluctuations in operating results and other risks
detailed from time to time in the company's filings with the
Securities and Exchange Commission. Our forward-looking statements
are based on currently available information which management has
assessed but which is dynamic and subject to rapid and even abrupt
change due to risks and uncertainties that affect our business,
including the unpredictability of future revenues and limited
visibility into future demand on which to base our forecasts; the
current uncertainty in our marketplace which may impact expected
demand, customer selection criteria and sales cycle; our ability to
execute on product deliverables and major customer contracts,
slower economic growth generally, slower adoption of broadband
technology, or cutbacks in information technology spending; and
factors beyond our control such as power outages or work stoppages
at key customers. Contact Information: Scott Mac Caughern Corridor
Communications, Corp. 650-961-5707 DATASOURCE: Corridor
Communications, Corp. CONTACT: Scott Mac Caughern of Corridor
Communications, Corp., +1-650-961-5707, or Web site:
http://www.amnisinc.com/
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