SAN ANTONIO, TX, United States, via ETELIGIS INC., 06/02/2015 – – Wytec International, subsidiary of Competitive Companies, Inc. (OTC Pink: CCOP) (PINKSHEETS: CCOP) announced today it has jointly signed a Non-Binding Memorandum of Understanding (MOU) with Unified Business Technologies, Inc. (UBT) for $7.5 Million in network management and project financing for Wytec’s Diamond Ring Backhaul Networks. “We are very enthused about the financing opportunity with UBT as it would allow us to fulfill the remaining 27 market build out under our Master Service Agreement (MSA) with Level 3 Communications,” remarks William Gray, CEO of Wytec. A Diamond Ring, built at a fraction of the cost of a traditional cellular network, is designed to deliver gigabit data service to commercial Internet Service Providers as well as expand Wytec’s patent pending LPN-16 small cell site solution. “With our experience in providing turnkey services and building carrier grade networks, we are excited about this strategic alliance to provide network management and network build capabilities for Wytec and participating in further development of its LPN-16 technology,” says Kunal Kapai, COO with UBT.
Wytec’s LPN-16 has been undergoing multiple speed tests in San Antonio, Texas since December of 2014 and will soon include public safety and carrier offload testing with selected cities and carriers now under discussion. “With UBT’s anticipated project financing, Wytec will be able to deploy much faster and incorporate the city and carrier offload test with the three (3) markets already under construction” explains Bob Merola, CTO of Wytec. UBT has been selected, under the Agreement, as the primary contractor for the 27 remaining markets as well as future development. In addition to the UBT strategic alliance, Wytec is conducting a $15 Million private placement of preferred stock and common stock purchase warrants designed to complement the UBT financing assistance and expansion of the LPN-16 supported by the Diamond Ring. For more information about the Offering, you may go to www.wytec.biz/ppm.
About Wytec International, Inc.:
Wytec, a subsidiary of Competitive Companies, Inc., was founded in 2011 as a Nevada-based corporation with corporate offices in San Antonio, Texas. The Company’s primary business focus is to develop next generation fixed and mobile wireless broadband technologies in support of the upcoming 5th Generation (5G) Network intended to expand the current 4G LTE Networks. 5G Networks are designed to support a minimum of one (1) gigabit of data transfer to a fixed and mobile wireless end user utilizing a variety of hand-held smart devices such as smartphones, laptops and tablets. It is also designed to be the primary network in support of the growing Machine to Machine (M2M) applications and other high speed services included in the coming “Internet of Things” mobile data marketplace.
About Unified Business Technologies, Inc.:
Unified Business Technologies, Inc. (UBT) is an award-winning, graduated 8(a), woman- and minority-owned small disadvantaged business enterprise headquartered in Troy, Michigan. UBT provides engineering, electronics manufacturing, IT, wireless telecommunications, professional and administrative, and construction solutions to the commercial sector as well as the U.S. federal, state, and local governments. Since our foundation in 1997, we have developed an extensive portfolio of experience delivering to our clients timely, cost-effective, and bottom-line driven solutions – integral elements of the modern marketplace that facilitate mission accomplishment. We strive to redefine the standards of excellence in the commercial and government contracting arenas. For more information go to www.ubtus.com.
This notice does not constitute an offer to sell nor a solicitation to buy a security. This press release contains statements that are “forward-looking” and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words “expect,” “intend,” “estimate,” “will” and similar expressions identify forward-looking statements. Since forward-looking statements address future conditions, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
SOURCE: Competitive Companies, Inc.