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SOURCE Urban AG Corp
NORTH ANDOVER, Mass., March 22, 2013 /PRNewswire/ -- Urban AG Corp/(AQUM.OTCQB) (the "Company" or "AQUM"), announced today that B&R Telephone ("B&R") and Terra Asset Management ("TAM") subsidiaries of AQUM's wholly owned Green Wire Enterprises ("GWE") division has announced a series of new contracts.
B&R Telephone, based in Corpus Christi, Texas, has been serving the community of South Texas and the Corpus Christi area for 23 years and provides sales, service and installation of telephone equipment, paging equipment, network cabling services (including fiber optics), tower and antenna installations, and cameras and surveillance equipment. B&R currently performs work for six out of the seven largest general contractors in the U.S. that provide telephone/data and equipment installation, maintenance and technical services to such corporations as WalMart, CVS, Firestone, Radio Shack. Baker-Hughes, Gulf Marine and the City of Corpus Christi.
B&R's new contracts include additional work for Gulf Marine, Baker-Hughes, Pioneer Drilling, Nueces County Community Action and WalMart. These contracts involve cabling, fiber networking and access solutions, telecommunications services and installation, sales and service contracts. The contracts amount to approximately $380,000 for the coming year against a projected total revenue of $1 to $1.2 million.
Terra Asset Management, Inc. ("TAM"), located in Broken Arrow, Oklahoma, is an established network asset management company with the capacity to build out the network using existing workforces and subcontractors, and the expertise to provide diverse services to subscriber companies. TAM already designs and builds network infrastructure for the largest tech and wireless companies, including Alcatel-Lucent, Motorola, Sprint, AT&T, Verizon, Starbucks, Southeast Financial, and Bank Plus. Revenues for TAM are estimated in the $2-3.5 million range.
East Texas Tower has awarded TAM two new microwave installations ("Microwave Hops") builds in East Texas; TAM is under way on this deployment. TAM was also selected again to perform installations for ProComm in Texas; this latest award is for three new Microwave Hops in the Houston area. ProComm is a long-term client of TAM.
Green Wire Enterprises, Inc. total operations is projecting an estimated $7 million in revenues for the coming year as it continues to expand its operations across the U.S. Currently, the estimated backlog of GWE is $5.5 million.
Billy V. Ray, CEO of AQUM stated, "With the long term client relationships embedded in the GWE subsidiaries, the opportunities to sell new services to the existing client base is a key component of the AQUM growth strategy."
GWE's operating subsidiaries serve a wide customer base that includes Telecom customers such as Verizon, Motorola, Alcatel-Lucent, Time Warner and General Contractors serving customers such as Wal-Mart, CVS and Gulf Marine. The subsidiaries also network and design services to a multiple of state and county government agencies, colleges and schools in the Texas market.
This news release contains forward-looking statements within the meaning of Section 37A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the Company's ability to continue to successfully market and provide its services, maintain its effectiveness and its customer base and general economic conditions. The Company undertakes no obligation to publicly update or revise forward-looking statements whether as a result of new information, future events or otherwise.