O2 Secure Wireless Announces Stock Purchase Program

O2 Secure Wireless, Inc. (OTOW) today announced that its Board of Directors authorized a stock repurchase program under which up to fifty million shares of its outstanding common stock may be acquired in the open market over the next six months at the discretion of management. The Company's management stated that this stock repurchase program authorization is partially in response to what appears to be a significant and concerted effort to suppress the price per share of the Company's common stock through short and/or naked short sales by third parties.