Wi-Fi TV to spend $1M on development of Phase 2 of social internet tv

(Business News & Technology News, 26 Feb 2007)

Wi-Fi TV Inc. which launched its new Social Internet TV website quickly scored its biggest viewing day in the company's twelve year history, has announced a $1 million development and marketing budget for a new Phase 2 launch on May 1.

Wi-Fi TV's Chairman Alex Kanakaris and his team have created several challenges for the development team in Atlanta, the Ukraine and London to take user video and live TV to the next level on the Internet. Now that Phase 1 is complete and being tweaked, Wi-Fi TV Inc. is committing an additional $1 million to the development, launch and marketing of Phase 2 of Social Internet TV, and has set the new launch date for May 1.

"While certain market makers seem to be selling Wi-Fi TV short, the company has received multiple indications of interest from financiers and other interested parties in continuing to bring Wi-Fi TV to both an enlarged user base and to representation on additional stock exchanges, and has set the stage for major viewer and advertising growth. The consumer response has been off-the-charts positive," said Kanakaris.

"We really would delight in proving the cynics and critics wrong and demonstrate that a little company has no limit in its potential on the Internet. We are bolstered by the real world response to Phase 1 of Social Internet TV and can't wait to demonstrate the next phase of our ideas and vision and how it relates to paid targeted video advertising," Kanakaris concluded.

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