|By Business Wire||
|July 31, 2014 03:39 AM EDT||
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 developed 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 permit.
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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