Calypso Wireless, Inc. Announces Today That It has Settled Lawsuits and Regained Control of Its Intellectual Property
Posted on April 29, 2008
Filed Under Digital Photo
MIAMI, April 29 /PRNewswire-FirstCall/ — Calypso Wireless, Inc. (OTC:
CLYW / CLYW.PK) announced today that it has settled all lawsuits against
the company and has regained control of its intellectual property. The
company’s previous officers and directors have resigned and Richard S.
Pattin has been named the company’s interim President, CEO and sole
Director.
“This is a major victory for Calypso Wireless and its shareholders,”
says Richard S. Pattin. “We can now get back to business and start
monetizing and further developing our ASNAP(TM) technology and our four
additional patents acquired last year. We also intend to reinstate Cristian
Turrini as Calypso’s CEO and Director,” Pattin states.
Cristian Turrini was President and CEO between March and December 2007.
Under his leadership, Calypso Wireless established a landmark relationship
and conducted a trial with one of the world’s largest networking and
telecommunications companies. Turrini was also instrumental in raising much
needed capital for the company and in negotiating a relationship with
Acacia Technologies to potentially manage Calypso’s intellectual
properties.
“We are very excited about these changes. The major issues that have
hindered our growth have now been resolved. We can now focus on building
our business by teaming up with potential customers to license our
technology. These may include chip companies (such as Intel or AMD),
software operating companies such as Microsoft or Palm, telecom equipment
companies like Ericsson, cellular handset companies such as Nokia and
Research in Motion, enterprise IP PBX server companies, enterprise
application companies, carrier application companies, virtual operators,
carriers and specialized vertical application providers such as satellite
radio companies. Since we now have control of our patented technology, we
can finally start building a potentially significant business,” says
Pattin.
In addition to licensing, Calypso Wireless also intends to aggressively
enforce its key patents. Calypso’s ASNAP technology (U.S. Patent
#6,680,923) titled “Communication System and Method” covers the seamless
roaming of voice, video and data between Wide Area Network access points,
such as cellular towers (GSM/GPRS/EDGE, CDMA, WCMDA etc.) and short-range
Internet access points (such as Wi-Fi, Bluetooth, etc.). This enables cell
phone users to enjoy up to 11mb broadband speeds, allowing them to video
conference with movie-like quality, to send and receive video with audio,
movies-on-demand and many other high-speed services that are currently
unavailable to them.
“In plain English, any carrier that wishes to provide its customers
with a cell phone that automatically detects any available WLANs and then
seamlessly switches between the standard cellular link towers and available
short-range broadband network, such as cable or DSL Wi-Fi, must sign a
license agreement with Calypso Wireless,” clarifies Pattin.
Calypso Wireless intends to appoint additional directors and form a
complete management team as soon as possible. The appointed Directors will
be subject to shareholder ratification in a special shareholders’ meeting.
About Calypso Wireless, Inc.
Calypso Wireless is the company behind the ASNAP(TM) technology for
which it was granted U.S. Patent #6,680,923 titled “Communication system
and method” (http://www.uspto.gov search U.S. patent number 6,680,923),
which covers the seamless roaming of voice, video and data between Wide
Area Network access points, such as cellular towers (GSM/GPRS/EDGE, CDMA,
WCMDA etc.) and short- range Internet access points (such as Wi-Fi,
Bluetooth, etc.).
Calypso’s patented ASNAP(TM) technology will enable cellular phones to
automatically detect any available Wireless Local Area Network (WLAN) and
then seamlessly switch between the signals of standard cellular link towers
and an available short-range broadband network such as cable or DSL with
Wi-Fi, accelerating wireless broadband deployment, thereby creating a
platform for revenue sharing between the synergistic companies and
increased revenues for them by delivering new added services. It could also
provide significant savings to Mobile Carriers in additional frequency
spectrum and infrastructure equipment by offloading capacity to the
Wireless Local Area Networks (WLAN) and IP networks while providing
additional sources of revenue.
The integration of ASNAP(TM) technology will enable greatly enhanced
services such as broadband connectivity, real time two way video
conferencing, VoIP and network-based gaming applications via Calypso’s
cellular phones, PDA’s (Personal Digital Assistance) or any mobile device
powered with the company’s ASNAP(TM) technology. The patent has also given
Calypso the rights to offer license agreements to major mobile and ISP
carriers as well as to cellular phone manufacturers and OEMs. Calypso has
also built upon its patented ASNAP(TM) technology to create a new
technology that could provide ‘the’ solution that allows satellite radio
signals from carriers such as Satellite Radio and Sirius Satellite Radio to
be readily received by all types of mobile wireless devices, thus
generating a new potential revenue stream for both the satellite radio
companies and the companies supplying service to mobile phones and devices
and the manufacturers and retailers of those devices, as well as the
licensing of this technology by Calypso.
The newly acquired patented technologies enable cellular phones and
wireless PDA/Pocket PCs to convert any incoming text messages to voice
messages and any incoming voice messages are converted into text messages.
Calypso plans to license these four newly acquired patented technologies
(US Patents No. 6,385,306, No. 6,765,996, No. 6,839,412 and No. 7,031,439)
to mobile operators, Original Equipment Manufactures (cellular phones and
wireless PDA/Pocket PC manufacturers) and Internet Service Providers.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995: All statements included or incorporated by reference in this
release, other than statements or characterizations of historical fact, are
forward- looking statements. These forward-looking statements are based on
our current expectations, estimates and projections about our industry and
business, management’s beliefs, and certain assumptions made by us, all of
which are subject to change. Forward-looking statements can often be
identified by words such as “anticipates,” “expects,” “intends,” “plans,”
“predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,”
“would,” “could,” “potential,” “continue,” “ongoing,” similar expressions,
and variations or negatives of these words.
These forward-looking statements are not guarantees of future results
and are subject to risks, uncertainties and assumptions that could cause
our actual results to differ materially and adversely from those expressed
in any forward-looking statement.
This release is intended as a forward-looking statement within the
meaning of the Private Securities Litigation Reform Act of 1995. The risks
and uncertainties that may affect the operations, performance development
and results of the Company’s business include but are not limited to (i)
The ability to provide technology in the future, (ii) Unexpected changes in
the technology market, (iii) The success of the Company’s expansion and
sales and marketing strategies (iv) Competition within the Data
Synchronization market (v) The ability of the Company to continue to
finance its long-term strategy and expansion (vi) The ability of the
Company to motivate and retain the services of its key personnel and hire
additional qualified personnel to meet evolving staffing needs.
Contact:
Calypso Wireless Inc.
Richard Pattin, rpattin@calypsowireless.com
305-477-8722
http://www.calypsowireless.com
SOURCE Calypso Wireless, Inc.
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