Polaris International Holdings Enters WiMax and IPTV Industries

TOKYO and LOS ANGELES, CA (the Company) announced today that Polaris Technology, Inc. has entered into a consulting agreement with Mr. Naoki Ido under which Mr. Ido will establish a new subsidiary of Polaris Technology that will focus on designing, manufacturing and selling products related to WiMax and IPTV (Internet Protocol Television).

Naoki Ido was President of Extreme Networks K.K. in Tokyo, where in 2001 he was responsible for taking the business from $6M to $160M, a milestone that has never been surpassed for Extreme Networks in a single country outside of the U.S. His previous roles in engineering have earned him a highly respected position in the IT markets in Japan. Some of his highlights include having worked with Nippon Telegraph & Telephone to develop the first Metro-Ethernet broadband backbone in Japan.

IPTV, the delivery of television programming by way of the internet, is one of the fastest growing of the information technology sectors. According to Multimedia Research Group, Inc., the number of IPTV subscribers will grow from 14.3 million in 2007 to 63.6 million in 2011, a compound annual growth rate of 45 percent. In Asia, growth has been especially high in China, Japan, and Hong Kong, primary areas of the Company's focus.

Polaris Technology, Inc. has entered into a definitive agreement to be acquired by the Company. The agreement between Polaris Technology and Naoki Ido, currently a member of the Company's Board of Advisors, stipulates that the new company will become a wholly owned subsidiary of Polaris Technology and that Mr. Ido will assume the title of President of the as yet unnamed subsidiary.

According to Kuni Misawa, Polaris International Holdings, Inc. CEO, "I am delighted that Mr. Ido has agreed to lead Polaris in creating a market presence in this exciting new technology. We are convinced that IPTV and WiMax represent lucrative new horizons with projected growth rates that represent fertile soil for rapid growth and consolidation. With his successful background, Mr. Ido is the perfect person to support our vision for the future in this area."

About Polaris International Holdings, Inc.

Polaris International Holdings, Inc., a Delaware corporation with offices in Huntington Beach and Los Angeles, California and Tokyo, Japan, is a holding company of IT services and technology companies located in Japan. The Company plans to expand from its current territory of Japan to include the other rapidly growing Asian markets.

Forward-Looking Statements and Risk Factors

Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of Polaris International Holdings, Inc. to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. There can be no assurance that we will satisfactorily reach our objectives or projections. Other factors which could materially affect such forward-looking statements include risk factors relating to lack of sufficient capital, competition, lack of expertise in some or all of the areas we are currently attempting to do business in and lack of market support for our stock. Investors, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Media Contact: CB Maxwell Maxwell Media Marketing 209-533-8291

Polaris (CE) (USOTC:PIHN)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024