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Diamond I, Inc. Announces Return to WIFI Communications Market
Company Evaluating Other WIFI Communications Opportunities Beyond Wireless Gaming
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Las Vegas, NV, November 30, 2006 - Diamond I, Inc. (OTCBB: DMOIE) a developer of wireless gaming products, including the GS2(TM) wireless hand-held gaming unit and the WifiCasino(TM) wireless gaming system, today announced its return to the WIFI communications market. The company's resurrection of its WIFI business is in concert with an expansion strategy of its existing and formerly dormant WIFI infrastructure. With its renewed WIFI technology platform, the company will seek to create equity partnerships with other emerging WIFI businesses to augment its core body of WIFI knowledge and assets. These partnerships intend to leverage the company's WIFI knowledge and assets to develop sales opportunities in a number of market segments. Going forward, Diamond I has plans to create subsidiary companies that would concentrate on developing specific WIFI market segments, as these equity partnerships are established. Diamond I Technologies, Inc., the subsidiary of the company responsible for the innovative WifiCasino(TM) wireless gaming system for wireless gaming on casino properties, is an example of how Diamond I will establish subsidiary companies to support market opportunities. The parent company will maintain the core WIFI technology assets and knowledge that can be applied to develop additional subsidiary WIFI market segments.
"WIFI technology will substantially change entire industries," commented David Loflin, Diamond I's CEO. "We have long been committed to developing shareholder value derived from the growing potential of WIFI technology. We have concentrated recently on the gaming i ndustry. Our specific focus is a reflection of the limited resources available to a small business, not a result of the limited opportunities for WIFI technology. With this renewal of our WIFI infrastructure and the partnerships that we hope to be able to announce shortly, we expect to be in a position to bring in additional resources that will enable us to expand beyond gaming into multiple market segments that can benefit from emerging WIFI technology. Voice over Internet Protocol or VoIP, Homeland Security and Municipal Utilities are our initial target market expansions beyond gaming."
About Diamond I, Inc. (www.wificasino.net)
"Voice-Print" and "Finger-Print" Technologies. Diamond I owns the rights to patent-pending voice-recognition and fingerprint biometric security technologies. These security technologies will be incorporated into Diamond I's WifiCasino GS wireless, hand-held gaming system, as well as the hand-held gaming unit to be employed by the Global Gaming Platform venture.
Diamond I, Inc. is a development-stage company that develops wireless gaming products, including a hand-held Wi-Fi-based gaming system for on-premises use by casinos/resorts, known as "WifiCasino"(TM), which includes the GS2(TM), the user-friendly wireless hand-held unit. The term "Wi-Fi" (wireless fidelity) refers to an industry standard for wireless equipment that meets published 802.11(x) standards. Wi-Fi equipment operates in unlicensed spectra, such as 2.4 and 5.8 Ghz.
With the passage of Nevada Law AB471, which authorizes the use of mobile communication devices for gaming in public areas in Nevada casinos, Diamond I seeks to secure a Las Vegas hotel/casino to serve as the demonstration site for its WifiCasino, in conjunction with its application for a gaming license in Nevada. To that end, in a letter of intent, The Palms Resort and Casino has agreed to continue to develop a working relationship relating to Diamond I's WifiCasino and, assuming Diamond I continues to meet certain standards, The Palms st ated that it intends to pursue an opportunity with Diamond I. Diamond I continues to seek venues in which to establish its WifiCasino system, including other U.S. casinos and horse and dog racing facilities. Diamond I has had preliminary discussions with certain owners of cruise ships, certain owners of horse racing facilities in the United States and dog and horse racing facilities outside the United States.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
Contact:
Diamond I, Inc.
Baton Rouge
David Loflin
225-341-4004
www.wificasino.net
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