Hello all
Just picked up this older story. Is it still good?
GLOBAL TELEMEDIA INTERNATIONAL SECURES PROPRIETARY INTERNET TECH
Business Wire
Dec 22 1998 11:21AM ET
nology
Business Editors
ATLANTA--(BUSINESS WIRE)--Dec. 22, 1998--Global Telemedia International Inc. (OTC Bulletin Board: GTMI - news; "GTMI") announced today that it has entered into a formal agreement with Utility Communications Corp., of Los Angeles to license proprietary technology specifically targeted to address the markeplace's need for high-speed access to the Internet.
This wireless technology, transported via satellite utilizing the K-A Band, can deliver a robust 10Mps of bandwidth with the capability to both send and receive voice, data and video transmissions. This technology requires a basic set-box to be deployed at the subscribers' location. This customized set-box is presently in development and is being engineered to satisfy universal capability in order to provide worldwide access.
Roderick A. McClain, GTMI president and chairman stated, "The applications of this technology are numerous, including both commercial and residential opportunities. Our ability to provide this service without the middleman ("Internet Service Provider") will position GTMI to be at the forefront of competitive pricing.
"The company anticipates the retail price of the set-box to be $295.00 with monthly subscription fees matching those of present Internet Service Providers. The increased bandwidth to 10 Mps as well as the host of additional features clearly sets this service apart from traditional ISP connectivity.
"We not only anticipate a significant volume of revenue from those seeking high speed Internet access, as well as new Internet customers who do comparative shopping. We look forward to the recurring revenue base as a result. Following our focus on the Internet, GTMI plans to concentrate its marketing on state of the art videoconferencing."
GTMI is a full-service communications and information processing company focusing on international communications networking in emerging countries. Additionally, GTMI is developing its own proprietary technology to complement these efforts.
The statements contained in this release may contain forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research and development activities and similar matters. The Private Securities Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results to differ materially from the anticipated results or other expenditures expressed in the Company's forward-looking statements. These risks and uncertainties are detailed in the Company's Form 10K for the period ended December 31, 1997, and are incorporated herewith by reference.
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CONTACT: Mark Wachs and Associates, New York
Mark Wachs, 212/832-2800 (2 12) 832.2800
KEYWORD: GEORGIA
INDUSTRY KEYWORD: TELECOMMUNICATIONS COMED INTERACTIVE/MULTIMEDIA/INTERNET Today's News On The Net - Business Wire's full file on the Internet
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URL: businesswire.com -0- Dec/22/1998 11:06 EOS (BUS) Dec/22/98 11:06 86 -0- (BUS) Dec/22/1998 11:21
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