NEW YORK, NY — (Marketwired) — 11/20/13 — Worldwide Internet, Inc. (OTC Pink: WNTR) announced today that it has completed the acquisition of an interest in Encryption Solutions, Inc.
The interest was acquired from an existing Encryption Solutions, Inc. shareholder, in a private transaction, in exchange for its Series C Preferred shares. The company also has an option to increase its ownership in Encryption Solutions, Inc. The company has authorized 45,000,000 shares of Series C Preferred, with a stated value of $5.00 per shares to provide for up to $225 million in acquisitions with minimum dilution to shareholders.
The phenomenal growth in digitizing information in certain industry sectors combined with an increased need for information security poses a strong market demand for products that can securely enable wireless networking and mobile communications, high speed file transfer (FTP/EDI) and email messaging. Healthcare, education, finance and banking, critical infrastructure such as energy, power and water, government entities and the TV, film and music industries are all impacted by the need for secure communications.
Encryption Solutions, Inc.-s SkyLOCK security solution utilizes an encryption system that is structurally and functionally unique and possesses distinct advantages over any currently marketed security product. The core technology is a proprietary and patent-pending algorithm that surpasses the standards of current encryption algorithms and provides for end-to-end, unbreakable and totally secure communications across both wireless and hard-wired networks.
Frank Kristan, President of Worldwide Internet, Inc. stated that:
“We are continuing to complete acquisitions that will benefit shareholders and complement investments we have already made in cyber security. We are executing on our business plan and making acquisitions that will develop a diversified holding company. This will provide increased shareholder value and distributions to shareholders from our portfolio”
Worldwide Internet, Inc. (OTC Pink: WNTR) () is in the business of developing technology for internet datacenter services and emergency notifications to the public. The company is focused on making investments to diversify its business operations and holdings.
Encryption Solutions, Inc. () is a software development and distribution company specializing in cutting-edge, next generation encryption software solutions for secure global wireless and wired communications.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the OTC Markets and. undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Contact:
Frank Kristan
Phone/Fax: (206) 984-3470
You must be logged in to post a comment Login