The Finx Group Inc. Announces Letter of Intent for Marketing Joint Venture Utilizing Wireless Broadband Technology - Brief Article

ISP Business, Sept, 2001

The Finx Group, through a newly formed subsidiary, announced that it has signed a letter of intent with BIFS Technologies Corp. for the purpose of expanding its Starnet e-commerce package to a new marketing channel. This new marketing channel includes broadband wireless connections for new potential customers through local television broadcasters who wish to enter and profit from the ISP market. Under the agreement, the companies will begin a joint venture designed to market the e-commerce package with BIFS wireless technologies, including their TV Internet systems and other peripheral devices.

The Finx Group Inc. and BIFS Technology Corp., through a newly formed limited liability company, of which each will own a 50 percent interest, will market to the broadcast and consumer markets the Starnet E-Commerce Best Price Comparative Shopping Engine, developed and licensed by Neomedia-Qode.

Using a collection of advanced peripheral device and wireless network modalities, the company plans to make available instant access to over 70 million products contained in the system. Through new technology provided by Orion Telecom Operating Corp. (OTOC), the wireless network modalities include utilization of existing wireless infrastructure with proprietary technology embedded in the infrastructure that increases bandwidth 60,000 times.

The e-commerce system allows in-store customers, through additional technology provided by OTOC, to scan product barcodes by using a small handheld scanner, instantly locate and purchase any product in the search engine at the best price.

BIFS Technologies Corp.'s TV Internet system will provide customers with a substantial enhancement to the utility of the scanner by making it possible for them to comparison shop, while at any retail store, through a wireless access to the Internet. Customers can instantly search and shop for the best price available and be assured that they are getting the best value for their money, according to Lewis S. Schiller, chairman and CEO of the Finx Group Inc.

BIFS TV Internet has been specifically designed to optimize the spectrum allocations made by the FCC to support digital television. Through the BIFS strategic partnership program, it is available to all local television broadcasters who wish to enter the ISP market.