MidNet, Inc. created, owns and operates The Middle Network., a secure, high-speed communications platform designed as a complementary and effective commercial "big-pipe" alternative to the Internet. After more than 3 years in development, The Middle Network made its commercial debut in June 2004. MidNet has since welcomed major corporations in both the entertainment and energy industries as Middle Network clients.
Filling a void
The tools used to create and manage large digital files have become enormously powerful in recent years. However, the missing component has been a neutral, secure, high-capacity conduit for transmitting data between dispersed locations. Traditional resources such as the Internet, overnight couriers and restricted private networks all have proven ineffective at dealing with the combined need for speed, security, reliability and operator-neutrality. MidNet has addressed these issues with The Middle Network, so named because it exists as a middle layer between the telecommunications infrastructure and application service providers (ASP).
The Middle Network was developed using advanced design, configuration and switching technologies that allow for the rapid transmission of data over fiber-optic lines. MidNet aggregates fiber-optic bandwidth from the telecommunications market, where costs are low due to the enormous glut in capacity. And, since MidNet is not directly affiliated with any telco or ASP, the Company offers a completely neutral communications platform where partisan interests do not impede customer access or privacy. This represents a critical barrier to entry to companies in the telecommunications or ASP sectors - the industries from which a competing network would logically emerge.
Target markets
MidNet is targeting sectors in which large and sensitive digital files are transported throughout and between organizations as part of routine workflow. Examples include the motion picture industry, where multiple parties can collaborate on a single production effort and digital footage moves between dispersed locations; or the oil and gas sector, where massive seismic-data files and digital 3D models are shipped between facilities. Other target markets include government agencies and the healthcare, legal, insurance, financial, engineering and architectural industries.
Selected Highlights
Successful penetration of key target industries
MidNet has signed agrements to provide private network services to major players in both the entertainment and oil and gas sectors. These customers include Technicolor Creative Services Canada and Rainmaker Limited, two of Canada's largest video post-production companies; and Kelman Technologies Ltd. a provider of seismic processing services to the energy industry and a member of Canada's Tech 100. During 2005, MidNet intends to target approximately 25 companies in the entertainment industry and roughly 150 businesses in the energy sector.
Expanding North American network
The initial roll out of The Middle Network was designed to link North America's major entertainment and energy markets. MidNet has made arrangements with its infrastructure providers to connect Vancouver, Los Angeles, Toronto, New York, Calgary, Houston, Montreal, Chicago, Edmonton, Denver, Oklahoma City and Dallas. The Company has already activated its Vancouver - Los Angeles and Calgary - Houston links, and will continue lighting segments of the network as customers are added. By the third year of its build out, MidNet intends to have more than 25 cities in North America and Europe connected to the network.
Recent Press Release
MidNet, Inc. begins rollout of videophone network on The Middle Network(TM)
RENO, NV, March 16 /PRNewswire-FirstCall/ -- MidNet, Inc. (OTCBB: MIDX), announced today it has begun the rollout of a videophone network on The Middle Network(TM), the Company's secure, high-capacity communications system, which was designed as a commercial "big-pipe" complement to the Internet. The videophones on this network will be interoperable with traditional telephones and Voice Over IP (VOIP) phones. Videophone usage pricing is expected to be comparable to voice-only services. Videophone services and equipment will be available through third-party manufacturers and application service providers.
MidNet, which created, owns and operates The Middle Network(TM), has privately linked locations in Los Angeles, Houston, Denver, Vancouver, Calgary, Edmonton and Toronto. Each city was selected based on the access it provides to businesses in the entertainment and energy sectors, two of MidNet's primary target markets.
Tilo Kunz, COO of MidNet, said, "With the beginning of the videophone service rollout, we can more effectively target a broad base of prospective customers in the entertainment, energy and other industries. As a provider of a first-to-market networking technology designed specifically for video-based communications, we are encouraged about our prospects for building market share.
"Our next expansion objective will be to grow our presence within each of these cities, and commence expansion of the network," Kunz said. "The expansion phase will feature the addition of several U.S. and Canadian cities, and will provide us with our first link into Europe. It will also allow us to target several new sectors, including healthcare, insurance and government."
In other news, MidNet announces that it has appointed Craig C. Hartman to the Company's Advisory Board. Hartman is President of nxTphaze Inc., a consulting firm focused on domestic and international market opportunities for manufacturers of specialized multi-media products, in particular, video-enabled devices such as videophones. Hartman will provide MidNet's management team with counsel on market opportunities for The Middle Network(TM).
Recent Performance - MIDX
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