SHPS NEWS JUST OUT (INSIDE) on STATUS CODE
Thursday August 24, 7:30 am Eastern Time
Press Release
AccessTel/Shopss.com Reports on its Filing Status
SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 24, 2000--The Management of AccessTel/Shopss.com Inc.
(OTCBB:SHPS - news) wishes to advise its shareholders that on Aug. 15, 2000, it filed a Notice of Late Filing concerning its second Quarter 10Q Report,
due on the same date.
In the filing, the Company stated: ``In view of the Company´s reorganization, management requires additional time to complete the financial statements.´´
Unfortunately, due to the burden of completing the necessary documents relating to the merger of AccessTel with Shopss.com and related financing around the
same time frame as the 10Q filing, the Company fell behind in its reporting obligations. As a result, a letter ``E´´ may be appended to the stock symbol on Aug.
25, 2000. The Company is now making every effort to comply and anticipates filing its 10Q no later than Monday, Aug. 28. The letter ``E´´ is expected to be
removed from the symbol within 48 hours of the filing.
AccessTel is on target to release news of its progress ahead of the press release announcing a major strategic development and a follow through AT&T
Conference Call.
About AccessTel
AccessTel was founded in February 1999 by three shareholders with a vision: Dr. William C.Y. Lee, a wireless communications expert; Liang, a high-tech
company executive; and Bockler, a renowned equity analyst.
AccessTel, through joint ventures and acquisitions, is poised to begin supplying Broadband Wireless, VoIP and Utility Meter Reading over a Wireless and
Wired Broadband Network.
These services will be provided primarily in China and the Western United States from AccessTel's base in San Jose. The wireless network and wireless local
loop (WLL) services will provide rapid deployment of phone, fax, high-speed data, video and fixed ISP connection.
In addition to deploying the latest broadband wireless strategies and telecom solutions, AccessTel plans to develop 3G Wireless Global Roaming Technologies,
in its own laboratory, under the guidance of Lee. The company's business plan has attracted major strategic alliances to help it achieve its business goals in a
timely and effective manner.
Forward-looking statements in this release are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors
are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's
products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time
in the company's periodic reports filed with the Securities and Exchange Commission. |
