AS-IP Tech, Inc. (OTCQB:IPTK) announces that the Financial
Industry Regulatory Authority ("FINRA") has approved the Company's
application for a name change from ASI Entertainment, Inc. to AS-IP
Tech, Inc. effective July 30, 2014, and assigned a new trading symbol,
"IPTK" (previously "ASIQ").
CEO, Mr Phil Shiels stated "The name has been changed to reflect that
the business of the Company is not entertainment, rather, it owns
communications intellectual property, from which license fees are
received on a regular basis. The name change, and the resulting new
trading symbol, will also end confusion with the Company and its former
subsidiary, ASiQ Limited."
About the Company
The Company owns the intellectual property named SafeCell. The original
SafeCell concept was develoed to allow aircraft passengers and crew to
access data communications on personal electronic devices via Bluetooth.
ASiQ Limited was licensed by the Company in May 2008, to commercialize
the intellectual property, and from this license evolved ASiQ's
BizjetMobile system, which is marketed under the brand names Grrrilla
and Chiimp. As previously advised, revenue from license fees will
increase as ASiQ sells more systems, and the number of users paying
monthly service fees also increases.
Having successfully funded the development of the SafeCell intellectual
property, the Company plans to seek new opportunities as circumstances
Safe Harbor Disclosure:
This press release includes "forward-looking statements" within the
meaning of the federal securities laws, commonly identified by such
terms as "believes," "looking ahead," "anticipates," "estimates," "may,"
"will," "should," "could," "expect," "intend," "project," and other
terms with similar meaning. Although the company believes that the
assumptions upon which its forward-looking statements are based are
reasonable, it can give no assurance that these assumptions will prove
to be correct. Important factors that could cause actual results to
differ materially from the company's projections and expectations are
disclosed in the company's filings with the Securities and Exchange
Commission. All forward-looking statements in this press release are
expressly qualified by such cautionary statements and by reference to
the underlying assumptions.
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