(BSNS WIRE) SpectruCell Software Defined Radio -SDR- Base Station Technolog
SpectruCell Software Defined Radio -SDR- Base Station Technology -- Important
New USA Operational Base
Business Editors & High-Tech Writers
MELBOURNE, Australia--(BUSINESS WIRE)--March 26, 2002--
EntrePort (AMEX:ENP) Completes Formal Acquisition Agreement with
Advanced Communications Technologies (Australia) Pty Ltd
Advanced Communications Technologies (Australia) Pty Ltd
("ACT-AUS") announced today that a formal agreement for the
acquisition of an equity interest in ACT-AUS by the United
States-based American Stock Exchange company, EntrePort Corp.
(AMEX:ENP), was finalized on March 15, 2002.
The completion of the formal agreement follows the execution of a
Letter of Intent completed by the parties in February 2002. The
agreement is subject to the approval of both the transaction and the
retention of the AMEX listing by the American Stock Exchange, and the
approval of the ENP shareholders. ACT-AUS will be the surviving
majority shareholder at completion. Full details of the transaction
will be announced in the United States by ENP in the next few days.
The agreement provides for the retention of the current ENP
management team, as well as for the consolidation and expansion of the
existing ENP real estate weekly performance training and coaching
business. EntrePort Corp. is currently engaged in delivering a weekly
online and off-line top producer weekly training and coaching program
that will target the over 700,000 real estate agents located
throughout the United States and Canada. The company believes the real
estate model will work across the financial, insurance, legal and
accounting vertical markets where the majority of target members
either own their own business or are independent contractors and
highly money motivated.
EntrePort has executed contracts with RE/MAX, Prudential, GMAC
Better Homes and Gardens, Coldwell Banker and Century 21 Real Estate.
This transaction will provide the financing necessary to allow
EntrePort's real estate division, www.university.com, to execute the
marketing plan in order to achieve projected profitability. EntrePort
has signed exclusive online content agreements with over 140 top
producing real estate agents in North America.
ACT-AUS to Establish United States Base of Operations
ACT-AUS management confirmed, "We are very excited about the ENP
transaction. ENP has an established business with a strong revenue
base, that should generate an appropriate profit base before the end
of 2002. ENP will provide ACT-AUS with an experienced corporate
management team to assist in establishing an operational base for
ACT-AUS in the USA, especially in regard to marketing assistance for
the implementation and distribution of the SpectruCell technology.
Perhaps most importantly it will enable ACT to supply the locally
based support for organizations involved in the distribution of
SpectruCell, and several evolving strategic relationships."
ACT-AUS Strategic Meetings -- Major U.S. Companies
A large, executive management team from ACT-AUS has been attending
several meetings in the United States and Canada, since March 15 2002,
that will be continuing over the next two weeks.
These meetings are extremely significant in regard to the
completion of a SpectruCell field trial agreement with a top five
network in the United States, and an extremely important joint venture
contract with one of the largest communications hardware providers in
the world. Confidentiality agreements and industry competitiveness
prohibit publication of the names of these companies at present.
About ACT-Australia
Advanced Communications Technologies (Australia) Pty Ltd is a
world leader in the development of software-defined radio (SDR), an
innovative technology that allows for exceptional flexibility in
commercial and military wireless communications. The company's
flagship product, SpectruCell, is an SDR multiple protocol wireless
base station that enables network providers to install a single base
station and configure it to any or all protocols (GSM, CDMA, UMTS,
W-CDMA, etc). Without SpectruCell, network providers would need to
install separate base stations for each desired protocol. SpectruCell
is supported by several patent filings that bypass 90 percent of
QUALCOMM's patents on CDMA. ACT-AUS owns the worldwide intellectual
proprietary (IP) rights to SpectruCell. For more information regarding
Advanced Communications Technologies, visit www.act-aus.net.
The forgoing contains forward-looking information. Such
forward-looking statements involve certain risks and uncertainties.
The actual results may differ materially from such forward-looking
statements. The company does not undertake to publicly update or
revise its forward-looking statements even if experience or future
changes make it clear that any projected results (expressed or
implied) will not be realized.
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CONTACT: Advanced Communications Technologies (Australia)
Alex Schrader, 011 613 8080 8080
Mobile: 011 614 0357 0005
alex.schrader@act-aus.net
KEYWORD: CALIFORNIA AUSTRALIA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: BANKING COMPUTERS/ELECTRONICS NETWORKING
REAL ESTATE TELECOMMUNICATIONS MERGERS/ACQ
SOURCE: Advanced Communications Technologies (Australia) Pty Ltd
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