CALGARY, ALBERTA -- (Marketwired) -- 04/08/13 -- Times Three Wireless Inc. (TSX VENTURE: TTW) (the "Company") reports a net loss of $1,810,000 for the year ended December 31, 2012. The 2012 financial results were largely related to the Company's operations before the initiation of a new strategic direction for the Company which commenced on October 17, 2012 with the appointment of William Middleton as President & CEO.
Mr. Middleton, who was formerly Senior Vice President and General Counsel at WiLAN Inc. and also a past General Counsel at MOSAID Technologies Inc., is leading a new initiative to develop high margin revenue IP licensing programs. These programs will be based on the Company's existing wireless networking and intellectual property portfolio, utilizing its fundamental wireless location technology and patents, including its growing portfolio of recently-filed patents stemming from its numerous inventions as well as other IP and patent acquisitions.
The complete financial statements along with management's discussion and analysis and the annual information form can be found on the Company's website (www.timesthree.com) and on SEDAR (www.sedar.com).
About Times Three
Times Three, originally founded in 1995 as Cell-Loc Inc., is a technology innovation and licensing company based in Calgary with offices in Toronto, Austin and Dallas. It has a long history of innovation and successful product development in wireless location technologies and continues to build and license its portfolio of important patents and intellectual property in other areas. The Company's current portfolio now consists of over 20 issued and pending patents in the USA and Japan.
The Company's proprietary narrow band location and telemetry technology has been successfully implemented and licensed to an operator of a 1500 square kilometer wireless network in Sao Paolo, Brazil.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:
Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "forecast", "may", "will", "project", "could", "plan", "intend", "should", "believe", "outlook", "potential", "target" and similar words suggesting future events or future performance. In particular, this news release contains, without limitation, forward-looking statements pertaining to growth of the Company's IP and patent licensing programs. With respect to forward-looking statements contained in this news release, Times Three has made assumptions regarding, among other things, the adoption of the Company's technology and the technology underlying other patents acquired by the Company. Although Times Three believes that the expectations reflected in the forward-looking statements contained in this news release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this news release, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause Times Three's actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the other factors described in Times Three's public filings available in Canada at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking statements contained in this news release speak only as of the date of this news release. Except as expressly required by applicable securities laws, Times Three does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Times Three Wireless Inc.
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