ERF Wireless Completes Hearings of Arbitration Process With Schlumberger
26 Junio 2013 - 8:12AM
ERF Wireless, Inc. (OTCBB:ERFB), a leading provider of
enterprise-class wireless and broadband products and services,
announced today that it has completed the hearings portion of the
arbitration process between itself and Schlumberger as of June 17,
2013.
On January 13, 2009, ERF Wireless entered into exclusive
reseller agreements with Schlumberger Technology Corporation and
Schlumberger Canada Limited ("Schlumberger") for all of North
America. The contracts completed their three year initial terms in
January 2012. During the fourth quarter of 2010, ERF Wireless
initiated a contractual mediation with Schlumberger to attempt to
resolve various financial issues in the reseller agreements.
Mediation was unsuccessful, and in 2011 ERF Wireless availed itself
of the right to submit a claim against Schlumberger Technology
Corporation in binding arbitration as mandated in the parties'
reseller agreement. The hearings and other associated formal
submittals of this arbitration were completed on June 17, 2013 and
a ruling by the three members of the arbitration panel will be the
final phase of the arbitration process.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation
located in League City, Texas, and is the parent company of Energy
Broadband Inc., ERF Enterprise Network Services, ERF Bundled
Wireless Services, ERF Wireless Messaging Services and ERF Network
Services. The company specializes in providing wireless and
broadband product and service solutions to enterprise, commercial
and residential clients on a regional, national and international
basis. Its principals have been in the wireless broadband, network
integration, triple-play FTTH, IPTV and content delivery business
for more than 40 years. For more information, please visit our
websites at www.erfwireless.com, www.energybroadband.com and
www.erfwireless.net or call 281-538-2101.
Forward-Looking Information
The information in this release may contain forward-looking
statements relating to anticipated or expected events, activities,
trends or results. Forward-looking statements, can be identified by
the use of forward looking terminology such as "believes,"
"suggests," "expects," "may," "goal," "estimates," "should,"
"likelihood," "plans," "targets," "intends," "could," or
"anticipates," or the negative thereof, or other variations
thereon, or comparable terminology, or by discussions of strategy
or objectives. Because forward-looking statements relate to matters
that have not yet occurred, these statements are inherently subject
to risks and uncertainties. Forward-looking statements in this
release include, without limitation, the Company's expectations of
continued expansion into oil and gas markets and of our terrestrial
broadband networks, along with other performance results. These
statements are made to provide the public with management's current
assessment of our business, and it should not be assumed that that
the forward looking statements will prove to be correct. Security
holders are cautioned that such forward-looking statements involve
risks and uncertainties. The forward-looking statements contained
in this release only as of the date hereof, and we expressly
disclaim any obligation or undertaking to report any updates or
revisions to any such statement to reflect any change in
management's expectations or any change in events, conditions or
circumstances on which any such statement is based. Certain factors
may cause results to differ materially from those anticipated by
some of the statements made in this release. Please carefully
review our filings with the Securities and Exchange Commission as
we have identified many risk factors that impact our business
plan.
CONTACT: ERF Wireless Inc.
Clareen O'Quinn
281-538-2101 ext. 113
coquinn@erfwireless.com
ERF Wireless (CE) (USOTC:ERFB)
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