Shares of ERF Wireless Inc. (OTCBB: ERFW) jumped up in mid-day trading after announcing the opening of its first US-BankNet in Texas. Shares of ERFW were up 9 cents (10 percent) to 97 cents per share on volume of just over 382,000 shares.
ERFW announced in a press release that its ERF Enterprise Network Services subsidiary has completed certification of the first segment of its US-BankNet system in the State of Texas. The encrypted, enterprise-class wireless and fiber network of US-BankNet will provide contracting financial institutions and large commercial customers in the state with high-speed connectivity to key service providers, the Federal Reserve, fiber gateways and the Internet.
“This is our next US-BankNet segment where we are incorporating over 60 towers now owned or controlled in Texas by our ERF Wireless Bundled Wireless Services subsidiary that is already servicing over 2,000 wireless customers throughout ERF Wireless’ WiNet Systems in Texas,” commented John Burns – CEO of ERF Enterprise Network Services – in a statement. “This arrangement was achieved through both acquisition and organic growth of ERF Wireless’ networks across the state.”
Looking forward, the company is setting a goal of closing at least 120 Texas BranchNet system sales out of the 656 banks and 640 credit unions in the state of Texas over the next five to seven years; and if successful, thereby potentially generating up to $120 million in initial design and construction revenues from its Texas BranchNet systems.
“The deployment of US-BankNet in Texas achieves another key milestone in our five-year strategic plan,” added Dr. H. Dean Cubley – chairman and CEO of ERFW – in a statement.
ERFW 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 twenty years.
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