Managment comments to Bear, Stearns; from July 26 report; same will probably be in today's CC. Ad campaign to commence; 15-20 mill of 50-60 mill worldwide campaign to be spent in 1999. Service rollout ads to climax at Geneva Global Telecommunications Convention in Oct. First 6-month ramp up predominantly in Mexico, Canada, Brazil, Commonwealth of Independent States, China, Korea, Southern South America, S. Africa and Australia. There may be new service provider in SEA to replace current one--likely a consortium of telephone companies.
Mgt. expects 15% of its service sales to come from fixed phones, balance mobile. (change from 25-75) Mgt. will monitor minutes used rather than number of subscribers and report quarterly. To date 300,000 phones have been ordered by distributors directly from mfrs. There will be 35,000 phones on hand at service rollout; 100,000 phones available for retail sales by end 1999. Mfrs. thereupon to provide 40,000 phones per month (i.e, 300,000 phones total available for sale by May, 2000).
Sales force training is going on now.Bank of America loan to close by Aug. 15.
Earnings supposed to be out and CC at 11 am. Haven't seen anything yet. |
