IHTL NEWS
REMEMBER there is more meat on this since it is "Surfacing some deep
"Company Building" Strategies to increase valuation. (Also look for $$ news
soon with a continuous stream of developments.)
July 28, 1999 10:25
Innovative Holdings to Open Offices in Singapore and Frankfurt
ORLANDO, Fla.--(BUSINESS WIRE)--July 28, 1999--Innovative Holdings &
Technologies, Inc.'s (OTC BB:IHTL) Board of Directors has authorized the
opening of two satellite Company offices in Singapore and Frankfurt,
Germany. The reason for this action is to support Innovative Holdings'
increasing global presence in the Pacific Rim and Europe for the Company's
marketing and financial initiatives.
"It is important for Innovative Holdings to establish regional offices in
major business and financial hubs around the world," said Helmut Wyzisk,
Chairman and President of Innovative Holdings & Technologies, Inc. "Not
only will this facilitate our ability to deliver our Internet and real-time
data collection and transmission products and services more effectively,
but also to take advantage of interest in the Company among investors and
financial institutions in these major financial centers."
Innovative Holdings & Technologies, Inc.'s Xtreme Telemetry Systems, Inc.
subsidiary recently entered into an exclusive licensing agreement with
Media Technology Group (MTG), headquartered in Tokyo, Japan, to provide
specialized TV and Internet broadcast sports data technology to audiences
in Pacific Rim countries including Japan, Taiwan, Singapore, Australia, New
Zealand, Malaysia, South Korea and the Philippines. Combined TV and
Internet revenues are estimated to exceed $51 million annually.
Innovative Holdings & Technologies, Inc. identifies, acquires and incubates
early stage niche technology companies with outstanding growth potential.
The Company is also creating a worldwide Internet sports network,
www.sen1.com, which is billed as "the total Internet sports experience,"
providing virtual real time participation for internet users in sporting
events, user-friendly on-line games, e-commerce and face-to-face audio and
video chat rooms. Valu-net Corporation of Toronto, Canada, is working with
IHTL to develop and market this new virtual, real-time sports network on
the World Wide Web.
IHTL's Xtreme Telemetry Systems, Inc. subsidiary offers TV and Internet
broadcast viewers real-time data on an athlete's physical condition,
equipment performance and relevant environmental information, which will be
made available to www.sen1.com, and television and broadcasters worldwide.
The statements contained in this release which are not historical facts
contain forward-looking information with respect to plans, projections or
future performance of the company; the occurrence of which involves certain
risks and uncertainties that could cause the company's actual results to
differ materially from expected results. Such risks include the timing of
implementation and the scope and success of the program described here.
CONTACT: Innovative Holdings & Technologies, Inc., Orlando
Phil Flynn, Investor Relations, 800/392-7961
www.innovativeholdings.com |
