(NEW YORK)–Hammer Fiber Optic Holdings Corp (OTCMKTS: HMMR) announces meeting with FCC to provide details on their broadband delivery technology.
On Sept. 12, 2017, Hammer Fiber released an 8K stating that on Sept. 5th Mark Stogdill, the President & CEO of Hammer Fiber Optics Holdings Corp. met with several staff members of the Wireless Telecommunications Bureau, and Ms. Rachael Bender, Legal Advisor, Wireless and International, Office of Chairman Ajit V. Pai of the Federal Communications Commission (FCC).
The meeting was requested through an Ex Parte Notice filing with the FCC to discuss matters of material importance to the Company, which included expanding flexible use in the mid-band spectrum between 3.7GHz & 24GHz, the use of spectrum bands above 24GHz for mobile radio services, and the application of Verizon Communications Inc. and Straight Path Communications Inc. for transfer of control of licenses.
This could be a major milestone for Hammer Fiber and their ability to reach and deliver broadband services to more rural areas using their ‘wireless fiber’ technology.
Trouble for Verizon?
This meeting may also signal growing FCC concern that larger carriers, such as AT&T (NYSE:T), and Verizon (NYSE:VZ), may stifle out innovation by dominating any new 5G networks under development.
Verizon recently acquired Straight Path Communications, Inc. (NYSEMKT:STRP), an owner of much sought after bandwidth spectrum. STRP held a large inventory of 28 GHz and 39 GHz millimeter wave spectrum used in mobile communications that would give a new owner an advantage in 5G development. The desire for STRP assets set off a bidding war between Verizon and AT&T that sent Straight Path stock from around $35 a share to high of $230 in just one month.
Verizon and AT&T were seeking to gain an edge in the race to develop out a fifth-generation network (5G) that would offer faster downloads and boost internet-reliant products such as self-driving cars.
Verizon won out the bidding war announcing in May 2017 that they would acquire Straight Path for $184 a share in an all-stock transaction, reflecting an enterprise value of approximately $3.1 billion.
But could the FCC discussions with Hammer Fiber be a sign that they may be looking to open the door to more innovators to gain entry into the new 5G network? Maybe. The verdict remains out on how the FCC may approach any growing monopolization of the 5G market, but for a player like Hammer Fiber this could be a major win to gain entry in delivering its suite of broadband services.
In July 2017, Hammer Fiber Optic Holdings Corp (HMMR) announced it had teamed up with Go Long Wireless, Ltd. (GLW), a company based in Sarasota Florida that holds 12 GHz Multichannel Video Distribution and Data Service (MVDDS) spectrum in 49 U.S. markets, reaching a population in excess of 29 million.
This new partnership will enable Hammer Fiber to expand its successful business model of delivering a bundle of high speed broadband, TV, and VoIP phone service to these additional 49 markets, including underserved rural communities.
Hammer Fiber was last traded at around $14 per share under the ticker symbol “HMMR”.
About Hammer Fiber
Hammer Fiber Optic Holdings Corp. (OTCQB: HMMR) is a telecommunications company investing in the future of wireless technology whose holdings include Hammer Fiber Optic Investments, Ltd. D/B/A Hammer Fiber, a New Jersey-based Internet Service Provider (ISP) that offers internet, voice, video and data services in New Jersey, as well as carrier services in Philadelphia and New York. Hammer Fiber serves residential and small business markets with high capacity broadband, voice and video through both direct fiber as well as its wireless fiber platform, Hammer Wireless® AIR technology. For more information visit http://www.hammerfiber.com
About Go Long Wireless
Go Long Wireless, LTD is a Florida based wireless spectrum holding company with an extensive spectrum portfolio designed to enable ultra-broadband services to rural and urban communities across the U.S. For more information please email firstname.lastname@example.org