If you click the news link on Pinksheets.com you will find a UWRL press release that did not hit the wires today. In it the company announced a new joint venture that will bring in roughly $2.4 million annually. The company continues to add revenue through mergers, acquisitions, and joint ventures. The stock keeps climbing in response to these positive developments. With many investors holding their shares for higher prices, at some point buyers will find very little shares to buy. When the demand is far greater than the supply, the price has no choice but to go up.
PenStox: Go Green Electronic Recycling (UWRL) Announces Nigerian Expansion
Clearwater, FL, Jul 15, 2010 (M2 PRESSWIRE via COMTEX) -- US Wireless Online, Inc. (UWRL; www.uswirelesscorporation.com) and its subsidiary Go Green Electronic Recycling (www.gogreenelectronicrecycling.com) are pleased to announce a new joint venture with Nigerian telecom operator AFCO Communications Nigeria Ltd.
Go Green Electronic Recycling will supply AFCO with 33 million refurbished cell phones over a 16-year period, which will accrue $400 million USD. The company is expected to supply an estimated 200,000 cell phones in 2010, which at the agreed sale price of $12/phone translates into revenue of $2.4 million.
"This project will translate into an incredible growth," said UWRL president Michael York. "Partnering with the largest telecom company in Sub-Saharan Africa on a project of this scope can only mean good things for the future of GGER."
Millions of Nigerians are disappointed with their GSM (Global System for Mobile Communications) operator and are looking for efficient and cost effective telecom service. This project is a timely one for Go Green Electronic Recycling because to receive improved service, cell phone users will require a new phone, which are in plentiful supply in the US. A cell phone's typical lifespan is 12-18 months, and the Environmental Protection Agency estimates that 350,000 phones are discarded every day in the US.
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