World Am Communications Signs Letter of Intent To Merge With Secure Wings, Inc.
High Technology Solutions for Airplane, Airport Security WESTMINSTER, Colo. and ATLANTA, March 18 /PRNewswire-FirstCall/ -- World Am Communications, Inc. (OTC Bulletin Board: WLDI), whose wholly owned subsidiary, Isotec, Inc. ( isotecinc.com ) conceives, develops and markets state-of-the-art security systems, announced today that it has signed a letter of intent for a new wholly owned subsidiary to merge with Secure Wings, Inc., Atlanta, Georgia. The merger involves an exchange of stock and other consideration.
Secure Wings, a private company founded in 1992, has developed the only 24-hour monitored electronic security system for aircraft and hangers that is approved by the U.S. Federal Aviation Administration. The Company also develops, markets and serves clients with innovative high-technology security systems.
Secure Wings is developing technology that will enable users to view a video stream in real-time or from recorded data to see what is happening in the airplane cabin. The digital camera-based system uses the same technology that Secure Wings has successfully developed to monitor cargo holds. The new Rapid Eye MULTI(TM) system, which is the only such technology certified by the U.S. Federal Aviation Administration, is effective in monitoring detailed activity in an aircraft and would communicate quickly and clearly with the U.S. Federal Bureau of Investigation, the FAA, as well as military and national security personnel.
Phil Haxton, President & CEO, a licensed pilot and electrical engineer, who saw the need for significant improvements for security in aircraft and at aircraft hangars nationwide, founded Secure Wings. The Atlanta Company was the first to develop a unique 24-hour monitored electronic security for aircraft and facilities where aircraft are stored.
``We believe that there is a huge need to improve airplane security and we are confident that the combination of Secure Wings and Isotec will bring to the national and international marketplace products that will make flying even more safe,'' said James H. Alexander, World Am Communications President & CEO. ``This will be another significant step forward for our Company to providing increased security for the flying public.''
Isotec is known in the security industry for its ``Transparent Security(TM)'' systems, which it conceived and developed. The security measures are unobtrusive and non-threatening. For example, its metal detection system in a door opening or hallway is used to detect persons carrying weapons into a building, thereby alerting appropriate security personnel. The system records a photo or video of the event while allowing security an opportunity to evaluate and take appropriate action before the person carrying the unauthorized weapon is alerted.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward- looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
SOURCE: World Am Communications, Inc. |
