SAN DIEGO, CA--(Marketwire - Apr 18, 2011) - Franklin Wireless Corp. (
In October, 2009, Franklin Wireless completed the acquisition of approximately 51% of the outstanding stock of Diffon Corporation in exchange for cash and shares of Franklin's Common Stock. Diffon was later renamed Franklin Technology Inc. (FTI) and provides design, development and manufacturing services to Franklin for its wireless data products.
Franklin Wireless' control rights of, as well as its stake in FTI, remain the same as before and Franklin's outstanding shares have been reduced by the amount of the cancelled shares. The cancellation was effective March, 2011.
About Franklin Wireless
Franklin Wireless Corp. (
Franklin Wireless is headquartered in San Diego, California and has a majority ownership position in Franklin Technology Inc. (FTI), a research and development facility located in Seoul, South Korea. FTI provides design, development and manufacturing services to Franklin for its wireless data products. 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:
Contact:
Richard Walker
Franklin Wireless Corp
+1 858 623 0000
rick.walker@franklinwireless.com