Company to Buy Back All of C-Motech's Shares; C-Motech to Give up Board Position
SAN DIEGO, CA--(Marketwire - August 2, 2010) - Franklin Wireless Corp. (
"We are pleased to announce that we have signed an agreement with C-Motech that will allow us to repurchase all of their Franklin Wireless shares at terms that we feel are favorable to both companies," said OC Kim, president of Franklin Wireless. "C-Motech has obviously been a key strategic business partner and shareholder of ours for the past several years and we certainly hope to continue working with them in the future."
About Franklin Wireless
Franklin Wireless Corp. (
Franklin Wireless is headquartered in San Diego, California. For additional information, please visit www.franklinwireless.com.
Safe Harbor Statement:
Certain statements in this press release constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements, expressed or implied by such forward-looking statements.
Contact Information:
Rick Walker
VP of Finance
858-623-0000
rick.walker@franklinwireless.com