/EINPresswire.com/ -- LOS ANGELES, CA--(Marketwired - September 20, 2017) - WiFi Wireless, Inc. (OTC PINK: WFWL) announced today that they have completed financial reporting and have updated data with the OTC. As of today the OTC standing for WFWL has been upgraded back to OTC Pink.

This is the alternative reporting status provided by the OCT Markets, www.otcmarkets.com. The stock symbol currently remains the same (WFWL).

A new name for the Company has been selected as part of the Company's brand evolution. To protect the investors, the new name will not be released until the legal filings have been perfected. The Company reported that they are also testing new system upgrades as part of the total revamping of the Company. It is important to note the internal restructuring and name change is not reflective of a recapitalization (no forward or reverse splits or mergers are anticipated in the internal restructuring).

"The Company is going through an overhaul which will concentrate its efforts on its core business focus. As part of this process, we're rebranding to reach a broader global audience," said new CEO, Anthony Saunders.

The Company received bridge funding from a private investor to fund this recent effort and upgrade. The board is in the process of negotiating with qualified investment groups for a larger financial commitment, which made the initial bridge funding possible.

"WFWL has only 59 million shares in the public float after 14 years and provides an excellent buy back opportunity on behalf of the company which could convert some of the cash to cash equivalents on the balance sheet. In addition to raising the price and value of the shares, this would bring the company closer to compliance in upgrading to a stronger market such as OTCQB or NASDAQ," said Saunders.

It should be noted that the Company intends to remain focused on introducing services in Indonesia, and is including India and Egypt. As part of use of funds from the initial bridge funding, the Company is to send a negotiation team to Indonesia to establish accessibility to the cell towers there.

Further to building a large user base for an international communications network, it is the Company's goal to become a fully reporting issuer and Edgar filer which is also the wishes of the Company's proposed financial investors.

For further information, please contact the company at info@wifiwirelessinc.com.

This press release contains forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.