October 19, 2006
To All Seamless Wi-Fi Shareholders, Investment Advisors and Interested Parties;
We continue to make progress toward bringing new products and services to market. Immediately following is the financial information from our 10K filed October 13, 2006 and updates from our operating subsidiaries; Seamless Internet, Peer 2 Peer, and Skyy-Fi. We will continue to issue periodic news updates regarding the Company and different initiatives via email subscription and archived on the www.slwf.net website.
Seamless Internet is also conduct an operational update teleconference today, Thursday, October 19th, 2006 at 1:00 PM Eastern and 10:00 AM Pacific Time. To participate in the call please dial-in to (712) 580-6300, then enter access code 929164 and push the pound (#) key. A replay of the call will be available for one week following the call via telephone replay at (641) 985-5000, access code 929164#. The call will also be archived at the www.slwf.net site, in addition to previous corporate and subsidiary update calls.
Investors having questions they want answered during the call should email their questions, in advance, to rich@slwf.net using the subject line "Call Question."
Seamless Wi-Fi 10K Balance Sheet and Statement of Operations
From the 10K filed October 13, 2006
SEAMLESS WI-FI, INC
CONSOLIDATED STATEMENTS OF OPERATIONS
June 30,
2006 2005
Revenues $ 38,793 $ 2,113
Cost of revenues 115,070 35,346
Gross Income (Loss) (76,277) (33,233)
Expenses:
Total Expenses 7,516,318 3,919,894
Net loss from operations (7,592,595) (3,953,127)
Other income
Other 1,224,680 38,928
Loss before income taxes (6,367,915) (3,914,199)
Net Loss (6,367,915) (3,914,199)
Basic and Diluted loss per common shares $ (0.05) $ (0.23)
======= =======
Weighted average basic and diluted common shares 133,750,923 17,373,504
SEAMLESS WI-FI, INC
CONSOLIDATED BALANCE SHEETS
June 30, 2006
ASSETS
Current assets
Total current assets 555,935
Other Assets 1,450,094
TOTAL ASSETS $ 2,006,029
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
Current liabilities
Total current liabilities 3,692,579
Long term debt 2,146,667
TOTAL LIABILITIES 5,839,246
Stockholders' deficiency
Preferred A stock, par value $0.001, 10,000,000 shares authorized,
945,541 shares issued and outstanding 945
Preferred B stock, par value $0.001, 3,000,000 shares authorized,
0 shares issued and outstanding --
Preferred C stock, par value $1.00, 5,000,000 shares authorized,
300,000 shares issued and outstanding 300,000 300,000
Common stock, par value $0.001 11,000,000,000 shares authorized,
344,927,154 shares issued and outstanding 344,926
Additional paid-in capital 17,518,109
Accumulated other comprehensive loss (21,897,197)
Total stockholders' deficiency (3,733,217)
Less: Treasury stock at cost 100,000
Adjusted stockholders' deficiency (3,833,217)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY $ 2,006,029
Seamless Internet announced yesterday announced that the S-XGen™ Ultra Mobile Personal Computer (UMPC) has been awarded a SKU (Stock Keeping Unit) designation from ACP-EP Memory of Irvine, CA.
The SKU is the term describing a unique numeric identifier referring to a specific product in inventory or in a catalog. SKU designation allows the S-XGen™ to be identified and ordered and is integral to driving S-XGen™ sales through retail and reseller channels. The S-XGen is the newest contender in the rapidly expanding Ultra Mobile Personal Computer (UMPC) class of minicomputers and takes connectivity to the next level with integrated Cellular, Wi-Fi and Bluetooth connectivity.
Please visit www.seamlessinternet.com for more detail
CES Show Information
In addition, we will be exhibiting the S-XGen at the 2007 International Consumer Electronics Show (CES) at the Sands Booth IP125. The S-XGen is featured on the CES site at myces2007.bdmetrics.com/Portal/ViewCompany.aspx?id=1885332.
Seamless Skyy-Fi, Inc.
Seamless Skyy-Fi continues to expand its Wi-Fi hotspots and is evaluating potential acquisition candidates in order to more rapidly grow its network. The company expects to start marketing its Secure Internet Browsing Wi-Fi software before the end of the year. Skyy-Fi president Ken Reda conducted an update conference call on Wednesday, September 13th and a replay of the call is archived and available for listening at the www.slwf.net site, in addition to previous corporate and subsidiary update calls.
Seamless Peer2Peer, Inc.
Development of Phenom(TM) Version 3.0 continues and we anticipate the next internal beta iteration of Phenom will be available next week.
We will market Phenom 3.0 through retail, wholesale and direct to end user channels. The price point will range from $49.95 to $149.95 depending on license and capabilities mix. All Phenom tech support will be based in the United States and will be available 24/7.
Please visit www.seamlessp2p.net for more detail.
Periodic updates:
Updates will be prepared and disseminated on an as-needed basis. Not all updates require a Press Release. We again thank you for your time and interest in Seamless Wi-Fi, Inc and our subsidiaries products and services.
Albert Reda
C.E.O Seamless Wi-Fi
Ph-775-588-2387
Fx-775-588-2499
arreda@slwf.net
All Seamless corporate and subsidiary updates are issued under the following Safe Harbor Statement:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This update includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as SLWF or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, such statements in this release that describe the company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward- looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward- looking statements. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent in the operations of a company. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.
--------------------------------------------------
If you no longer wish to receive the SLWF newsletter please visit secure.slwf.net/newsletter/remove.pl and complete the form to remove yourself from the mailing list.
