SAN ANTONIO, TX, United States, via ETELIGIS INC., 06/15/2015 – – Wytec International, a subsidiary of Competitive Companies Inc. (OTC Pink: CCOP) (PINKSHEETS: CCOP) announced today it has received an independent “valuation” study of its core business driven by the Company’s unique millimeter wave backhaul design called the “Diamond Ring”. Wytec uses millimeter wave frequencies (60, 70 and 80 GHz) which are quickly becoming a focus for the emerging 5G communication network. “We are extremely pleased with the results of this independent valuation study”, comments William Gray, CEO of Wytec. Wytec commissioned the study to facilitate the due diligence process associated with a proposed financing of $7.5 Million by Unified Business Technologies, Inc. (UBT). UBT is currently in negotiations with Wytec to conclude it definitive agreement involving the financing of 27 markets. Signals Analytics, LLC, the author of the study, used ten-year revenue, operating expense, and capital assumptions (mostly KPI driven) provided by the company to develop a fully valued forward-looking view of the business. The study assumes that Wytec will achieve important operational milestones and that it will be able to secure the growth capital required for its future expansion.
While the valuation includes only Wytec core revenue, it assumes the successful launch of WyQuote, Capaciti’s proprietary agent quoting platform. The study produces a valuation that is significantly higher than the price utilized in the Series B offering in part because of its very inclusive ten-year timeframe and its assumption that the company will ultimately be able to execute on all parts of its business plan.
The study will be utilized by institutional and accredited investors as an input to the due-diligence process associated with Wytec’s current Series B Private Placement. The study was completed on May 28th 2015. CCI, the parent company to Wytec and has now retained Signals Analytics to expand the study to include financials from other Wytec and CCI businesses and to develop a business and deployment framework for Wytec’s patent pending LPN-16 technology.
Recently, Wytec signed a non-binding MOU with Unified Business Technologies, Inc. for $7.5 million in project financing to assist in the build out of its remaining 27 cities under its Master Service Agreement with Level 3 Communications. The Signals Analytics, LLC study included the projected build-out of 174 Tier One, Tier Two and Tier Three U.S. markets over the next five years, and the associated revenue over the next ten years. These markets are expected to generate revenues through the sale of commercial Internet services by Wytec’s sister company, Capaciti Networks, Inc., also a subsidiary of CCI. Capaciti and will market and sell commercial Internet services to the SME market and pay Wytec a percentage of the gross sales for use of the Wytec millimeter wave network. To learn more about Wytec’s Series B Offering, go to www.wytec.biz/ppm.
Please be advised that the valuation study is an estimate only based on assumptions made by management that may prove to be incorrect, including assumptions regarding available capital and financing. There is no assurance that the actual fair market value of Wytec will be equal to the value estimated in the study, and there is a risk that it could be less.
THE INFORMATION IN THIS RELEASE IS NOT AN OFFER TO SELL NOR A SOLICITATION TO BUY ANY SECURITY OF THE COMPANY. ANY OFFER TO SELL OR SOLICITATION TO PURCHASE A SECURITY MAY ONLY BE MADE BY THE COMPLETE CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM FOR THE COMPANY, WHICH INCLUDES A DESCRIPTION OF RISK IMPORTANT RISK FACTORS.
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 developing next generation fixed and mobile wireless broadband technologies in support of the upcoming 5th Generation (5G) Networks designed to supplement the current 4G LTE Networks. 5G Networks are aimed to support a minimum of one (1) gigabit of data transfer to fixed and mobile wireless end users utilizing a variety of hand-held smart devices such as smartphones, laptops and tablets. It is also designed to support Machine to Machine (M2M) applications and high speed services included in the upcoming “Internet of Things” mobile data marketplace.
About Unified Business Technologies, Inc.:
Unified Business Technologies, Inc. (UBT) is an award-winning, 8(a) certified, woman-and minority-owned business enterprise headquartered in Troy, Michigan. UBT provides Engineering, 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 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.