SALT LAKE CITY , April 29 /PRNewswire-FirstCall/ -- Sector 10, Inc.
(OTC Bulletin Board: SECT; Frankfurt : '4SR') announced today it has reached
agreement with its largest shareholder, Sector 10 Holdings, Inc., to take
possession of a
"This is a leap forward in response systems integration." CEO Pericles DeAvila said. "The S-10 network is a global communications network that will manage SRU's and MRU's in the event of disasters or incidents across the nation and internationally. This network will also be used for media/broadcast content distribution, secure remote data storage (to facilitate Sarbanes-Oxley compliance), voice communications, and site monitoring with video surveillance."
The network will be fully integrated with the Emergency Alert System (EAS) including emergency alerts issued by the Department of Homeland Security and Amber Alerts.
The network includes satellite, third-generation cellular data networks (3G), fiber optic transmission, and public internet capabilities, DeAvila said. "It will be great to have a operational system in place that will manage our products in all cities across the United States and that the system was built to specifically empower Sector 10's intellectual property," he said.
The network distribution services include the worldwide transmission of video and audio broadcasts, with content management services that archive data under a redundant system with various server clusters across the nation, and ultimately world-wide.
DeAvila said the agreement was reached after Sector 10, Inc. received a detailed appraisal and review from an independent third party. Sector 10 Holdings, Inc. also has agreed to turn over customers to the network providing additional income to Sector 10. Inc.
In an additional action, the board of Sector 10 Holdings, Inc agreed to discount the asset to Sector 10, Inc. "We are here to support Sector 10, Inc. in any way we can, to encourage growth and its mission of pre-deployment as the way to save lives," the Board said in a written statement.
The agreement and the transfer will be finalized in the coming weeks. For more information please see http://www.sector10.com.
This press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or development that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company's actual results to differ materially from those implied or expressed by the forward-looking statements. The Company assumes no duty whatsoever to update these forward-looking statements or to conform them to future events or developments.
SOURCE Sector 10, Inc.