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ATTP - 650,000 float - Full Company Research
I have a near-term target of $20.00.
Recent price: $2.25 x $2.37
COMPANY:
Affordable Telecommunications Technology Corp (OTCBB: ATTP)
6227 South West Freeway
Houston, TX 77074
Phone: 713-988-8884
Fax: 713-988-4955
CEO & Pres: Steven H. Bethke
Retail Website: thewirelessstore.net
SEC FILINGS:
sec.gov.
SHARE INFO:
Outstanding: 7,500,000
Float: 650,000
Authorized: 20,000,000
INVESTOR RELATIONS:
National Financial Communications
1040 Great Plains Ave
Needham, MA 02492
(800) 230.3519 ext. 14
Rick McCaffrey, E-mail: Rick@otcfn.com
Virtual Investor Profile of ATTP: virtualir.com
BUSINESS SUMMARY:
TIME LINE
- July 10, 1997 - ATTP Incorporated offering advanced wireless telecommunications.
- September 1, 1998 - "The Wireless Store" commenced operations.
- Mid-Year, 1998 - Entered into joint venture agreement with Link-Two Communications.
- Various Dates - Signed contracts with Nextel, Sprint PCS, Houston Cellular, Page-Mart, ComSat Satellite, Globalstar Satellite, Bell South Wireless, and GTE Wireless.
- October 12, 1999 - Signed a letter of intent to acquire eight Beeper Boutiques.
- January 3, 2000 - Announced SEC Form 10-SB Registration.
- March 1, 2000 - Signed a letter of intent to acquire Cameras, Etc.
- March 1, 2000 - Selected OTC Financial Network, a division of National Financial Communications Corp. (NFC), to handle Investor Relations.
The Company serves as a reseller and provider of wireless
telecommunications services, paging services and related services, and also plans on providing an Automatic Meter Reading service (AMR). The Company presently operates a retail stores in the Houston market under the name "The Wireless Store."
October 12, 1999 - Entered into a letter of intent with Beeper Boutique, which owns and operates 8 stores in Texas and Louisiana, and has a customer base of over 20,000 active pager subscribers and markets products and services in the Texas Gulf Coast area. Current monthly revenues generated by Beeper Boutique are approximately $305,000 and its expenses are approximately $265,000.
This acquisition should enable the Company to expand its service and customer base, and provide service from 6 different wireless carriers to a larger customer base.
March 1, 2000 - Announced that it has entered into a letter of intent to acquire Cameras, Etc., a Texas-based company specializing in marketing digital cameras and accessories to the oil and gas industry. ATTP's announcement said, "The convergence of the Internet and mobile communications is rapidly becoming a reality. We will incorporate Cameras, Etc.'s digital imaging into our wireless two-way data network to capitalize on this dynamic opportunity."
"Cameras, Etc. enables oil and gas companies to take and send images over a wireless network, and analyze the images remotely on a computer.
We plan to expand Cameras' target market into the medical field, in addition to applying the technology toward a host of new consumer products, such as wireless phones with Internet access."
ATTP presently markets telecommunications products and services for the major wireless carriers and vendors, including Sprint PCS, Nextel, Houston Cellular, Nokia Corp., Motorola, Ericsson, Bell South Wireless Data, Page-Mart, Comsat Mobile Communications and Globalstar Telecommunications Co.
ATTP has also negotiated a joint venture with Link-Two Communications Inc., which holds numerous radio paging licenses that cover Southwest Texas. Link-Two offers nationwide service with two-way digital messaging on a wide area network.
ATTP offers Globalstar Telecommunications satellite phone through an agreement with AirTouch Cellular, which includes the Globalstar handsets, accessories and service. The Globalstar service provides customers with satellite telephone service world-wide and is distributed and marketed throughout North America, with the Company now offering this satellite communication service throughout Texas.
In addition, the Company offers paging, messaging and information products and services through third party networks, including PageMart and Bell South Wireless Data.
The Company uses 2 primary methods for distribution of its products and services.
(1) Direct Retail Distribution - Plans to use a direct sales force covering the Houston and Texas Gulf Coast area to increase and maintain a larger customer base. Its retail stores will provide sales support and services offered. The Company is actively seeking to increase its customer base through retail stores that the Company operates and acquires.
(2) Agreements with Third Party Independent Distributors/Dealers - Currently has dealer agreements with 6 large wireless dealers as well as smaller Houston wireless communication dealers, offering wireless services including paging and PCS. In exchange for a wholesale price on activation's and airtime, these dealers solicit customers for the Company's prepaid cellular service. These agreements increase sales volume for the dealers and provide a valuable source of new customers for the Company.
The Company plans to develop multiple distribution channels to increase marketing of products and services, and reduce its reliance on any single distribution source.
COMPETITIVE ADVANTAGES
Charges no monthly access fee for its prepaid service, unlike many of its competitors. The Company offers a plan that provides customers with both equipment and specified amount of time on a prepaid basis, giving the customer the benefit of buying only what they want to spend on airtime while (i) eliminating the Company's credit risk, (ii) substantially reducing the Company's receivable reserves, together with labor, software and overhead items required to monitor receivables and (iii) making the float attributable to the prepayments available to increase opportunities for internally-financed growth, or otherwise maximize shareholder returns.
OTHER INFORMATION:
-ATTP formed a joint venture with Link-Two Corporation of Houston, Texas to construct and operate a statewide 900 MHz one-way/two-way paging network and will utilize the network's technology to provide Automatic Meter Reading (AMR) services in the near future. This network supports conventional paging as well as the "smart" utility meter technology which can read household water meters automatically and remotely without physical entry into a residence or business. Beta testing of the meters produced positive results, representing a future revenue stream for the Company.
Geoffrey Eiten (president of National Financial Communications, ATTP's IR firm) said, "Affordable is also focused on aggressive expansion of its retail business The Wireless Store, which resells wireless telecommunications products from all the major players in the industry.
The Company is pursuing retail store acquisitions, third party arrangements with established dealers, and joint ventures to broaden its product offerings and enter new markets, including a higher demographic segment."
Steven Bethke (ATTP President & CEO) said, "We remain dedicated to acquiring companies in the most profitable sectors of wireless communication, such as digital imaging.?
- The Company is not a party to any material litigation.
NEWS:
March 1 - Company Press Release
- Affordable Telecommunications Technology Signs Letter of Intent to Acquire Digital Imaging Specialist Cameras, Etc.; --Affordable to Merge Wireless Products With Digital Imaging--
March 1- Company Press Release
- Affordable Telecommunications Technology Corp. Retains OTC Financial Network to Lead Comprehensive Investor Relations Campaign
March 2 - Company Press Release
- Affordable Telecommunications Technology Featured On Leading Local Business Internet Site dBusiness.com
clearstation.com.
January 3 - Company Press Release
- Affordable Telecommunications Technology Corporation Announces that Form 10-SB Registration Statement Ready to be Declared Effective
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