CALISSIO RESOURCES GROUP INC (CROO) SPO
|Company Name||CALISSIO RESOURCES GROUP INC|
|Company Address||248 W. PARK AVE STE. 240
LONG BEACH, NY 11561
|CEO||Nicholas R. Miller|
|Employees (as of 12/31/2004)||7|
|State of Inc||NV|
|Fiscal Year End||12/31|
|Shares Over Alloted||--|
|Shareholder Shares Offered||29,776,867|
|Lockup Period (days)||180|
|Quiet Period Expiration||--|
We will not receive any of the proceeds from the selling stockholders of shares of our common stock. However, we may receive the sale price of any common stock we sell to the selling stockholders upon exercise of the warrants. We expect to use the proceeds received from the exercise of warrants, if any, for general working capital purposes. The warrants contain a provision for cashless exercise. If that provision is utilized, we will not receive any proceeds.
The WiFi, or WLAN industry, is characterized by intense competition. There are many companies, both public and private, offering WiFi management and security solutions. Our solutions cover a broad range of competitors. These competitors include companies such as AirDefense, Airespace, AirMagnet, Inc., Aruba Wireless Networks, Cisco Systems, Inc., Network Chemistry, Network Instruments, LLC, and Newbury Networks, Inc. Most of these firms have products that protect wireless networks from outside attacks. We believe that our most significant competitive advantage is that our product protects a wired network against attack from a connected laptop that is wireless enabled. We believe that customers select products based on cost, ease of installation and use, and product features, and that we compete favorably on these factors. Since our products are software, with the exception of AirPatrol Sensor(TM), customers do not have to purchase specialized hardware. Our software can be downloaded and immediately operational. Many, if not most of our competitors, however, have greater financial resources and have been able to market their products more extensively. Some of our competitors have existing customers bases for non-competitive products, which provides them with the advantage of greater market recognition.
CNI was founded in March 2001 to develop technologies designed to enhance the performance and security of wireless networking technologies, with an initial specific focus on 802.11b Wireless Local Area Network ("WLAN") technology. A WLAN is one in which a mobile user can connect to a local
area network ("LAN") through a wireless (radio) connection. The 802.11b standard for WLANs - often called "WiFi" - is part of the 802.11 series of WLAN standards from the Institute of Electrical and Electronics Engineers ("IEEE"). CNI conducts its research and development activities through its subsidiary, Cirond Networks (Canada) Inc., a British Columbia corporation. CNI's initial product set, which was announced in late 2002 and shipped in 2003, included a wireless network management and security solution, known as Winc Manager, and a pair of wireless connectivity utilities, known as Winc and pocketWinc. In late 2003, we announced a new family of products dedicated primarily to the goal of securing wired networks against the threat of unauthorized wireless devices (such as wireless-equipped laptop computers and wireless access points). These products were announced under the AirPatrol name and included AirPatrol Enterprise(TM) and AirPatrol Mobile(TM). AirPatrol Enterprise(TM) is a network security product aimed at securing an organization's network against the wireless threat around the clock and capable of being repurposed as a wireless network management solution at such time as the customer implements a wireless network. AirPatrol Mobile(TM) is a software-only solution that allows customers to detect and locate unauthorized wireless devices and access points without the use of any specialized hardware. On July 19, 2004, we announced that we were focusing our entire resources around the AirPatrol product line as part of a comprehensive strategy to deal with the significant threat to network security posed by the implementation of wireless laptop computers and other wireless devices. We believe that whenever a wireless-enabled computer is plugged into an organization's network, and certain wireless capabilities are left on, network security is potentially compromised, as access to the network can be inadvertently broadcasted to unauthorized and potentially undetected users outside the organization's premises. Similarly, we believe that the installation of unauthorized wireless access points, which are being purchased and installed increasingly by employees so they can use their laptops wirelessly within an office, exposes organization networks to a high level of danger. Our strategy addresses wireless security threats with a two-pronged approach: first, by addressing the problem at its source, by automatically disabling the wireless capability of laptops whenever they are connected to the organization's wired network; and second, by providing a comprehensive capability to not only detect but also to located unauthorized wireless devices. We believe this strategy enables organizations to lock out access by preventing wireless laptops from inadvertently providing unauthorized access to the organization's network, and to notify the organization by providing wireless equipment detection and location capability. ---------------- Our principal executive offices are located at 4185 Still Creek Drive #B-101, Burnaby, British Columbia, Canada V5C 6G9, and our telephone number is (604) 205-5039. Our website is located at WWW.CIROND.COM.
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