StratoComm Corporation Provides Interim Status

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Nov 29, 2010, 12:42 ET

EATONTOWN, N.J. and ALBANY, N.Y., Nov. 29, 2010 /PRNewswire-FirstCall/ -- StratoComm Corporation (STCO) is providing interim status as to company activities and plans going forward. Following is a review and current status of the company's present activities.

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A number of cost cutting measures have been implemented including the furlough of certain of company personnel who presently await recall. The Company will continue to monitor expenses and budgetary items until revenues allows it to expand its operations.

Although Joint Venture Partnerships in developing countries have been established and system sale agreements executed a financed sale to support near term revenue has been elusive. The distinctive success in the market place has been in Cameroon where our joint venture, Evergreen ISP Platform maintains its license and has successfully installed and is operating an interim system on a tower in Douala. StratoComm's internally designed telecommunications payload for the Transitional System has proven its ability to deliver its advertised capability in wireless performance. To date StratoComm has expended in excess of $400,000 in direct financial support for equipment and expenses relating to Evergreen ISP.

StratoComm continues to market its Transitional Telecommunications System. Although successfully executing agreements for the purchase of several TTS, securing deposits for systems sold has not occurred. As previously reported efforts are under way to acquire a TTS and deploy it in Cameroon either by our partner securing required financing, via a alternate sale or the initiation of a Private Placement Memorandum to fund the TTS. It is the company's belief that a deployed TTS will enable access to financing supportive to TTS sales throughout the developing world.

StratoComm has not seated the Board of Directors due to its present cash shortfall which has inhibited its ability to procure the necessary director's liability insurance. The prospective directors have been identified, invitations to join the board extended and accepted. Plans remain to conduct an annual shareholder meeting in April of 2011.

Downsizing of staff has compromised StratoComm's response time to shareholder inquiries. All shareholder inquiries need to be directed to our toll free number 800-211-0407, where you will speak with a member of StratoComm's staff who will direct your inquiry to the appropriate personnel. With specific regard to Cameroon, Evergreen ISP Platform, the Joint Venture Company, project financing discussions are ongoing with prospective sources.

A comprehensive financial strategy and a more detailed Shareholder Advisory will be provided prior to the end of December. Again, all questions and comments should be made to [email protected] or 800-211-0407 and such inquiries will be directed to the appropriate individual. Continued shareholder support is greatly appreciated.

StratoComm Corporation is a developer and provider of telecommunications infrastructure technologies with a specific focus to the delivery of ubiquitous and cost sensitive communication services to the developing world. The company is further committed to the allocation of a portion of each system's service capacity for the provision of low cost/no cost social and economic outreach programs.

Safe Harbor Disclosure – This Press Release contains or incorporates by reference "Forward-looking statements," including certain information with respect to plans and strategies of StratoComm Corporation. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including StratoComm Corporation beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to StratoComm Corporation as of such date. There are a number of important factors that could cause actual events or actual results of StratoComm Corporation and its subsidiaries to differ materially from those indicated by such forward looking statements.

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