What do you think of that?
PICK Communications Continues Its Expansion; Company Announces Two New Subsidiaries
Business Wire - September 24, 1998 14:02
WAYNE, N.J.--(BUSINESS WIRE)--Sept. 24, 1998--PICK Communications Corp. (OTCBB:PICK) announced today the commencement of operations of two new wholly-owned subsidiary corporations following a two-day Executive Summit meeting in Miami, FL.
PICKNET UK PLC, based in London, was created to work in tandem with PICKNET, Inc. in Wayne, NJ (also a wholly-owned subsidiary) to grow PICK's international network infrastructure. The Company has been granted an International Simple Voice Reseller Standard License to operate as a reseller of international telephony traffic from the UK. PICKNET UK also provides uplink capabilities to numerous satellites terminating in Africa, Asia, Europe and the Middle East.
The second announced subsidiary, PICKSat Inc., specializes in the development and marketing of broadband, international high speed Internet access via satellite. PICKSat will be headquartered in a 10,000 sq. ft. facility in Miami, FL at Kroger Park, where an advanced Network Operating Center (NOC) is currently under construction. Mario J. Pino, former General Manager of ZakSat General Trading Company W.L.L., was appointed as President of this new subsidiary.
PICK Communications Corp. is a diversified telecommunications carrier headquartered in Wayne, NJ with four wholly-owned subsidiary companies. The Company has two international gateway switches located in Jersey City, NJ and Miami, FL. to provide international long distance services to other carriers and resellers in the United States, and has also distributed prepaid telephone calling cards nationally since 1993.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created thereby. The Company's actual future results could differ materially from the forward-looking statements discussed herein based on certain risks and uncertainties, including the timely development and acceptance of new products in a constantly evolving telecommunications industry, the impact of competitive products and pricing, government regulations and the other risk factors detailed from time to time in the Company's SEC reports.
CONTACT: PICK Communications Corp.
Karen M. Quinn
973/812-7425
PICKNET@aol.com
Its a good piece of news but the Stock doesn't seem to move anymore. They raise $10 million, they finally announce their Internet newco, and it does nothing.
There must be a reason???
Do you have any ideas?
Regards
Malko |
