NEWS
FOR IMMEDIATE RELEASE
AGENCY CONTACT: Howard A. Foote
Platforms International
(818) 981-9031
Tuesday, Sept. 14, 1999
Release: 6:00 AM PST
No. 32D.09.14.99.600AM
platforms-intl.com
PLATFORMS INTERNATIONAL CORPORATION
CORPORATE HEADQUARTERS
466 ORANGE STREET
REDLANDS, CALIFORNIA 92374
(818) 981-9031 OTC BB: "PLFM"
WWW.PLATFORMS-INTL.COM
CORPORATE PROGRESS REPORT - 9.14.99
Los Angeles, September 14, 1999 ? Howard A. Foote, President & CEO of Platforms International Corporation (OTC: BB PLFM) announced today there are a number of significant developments in progress since the company?s last press release.
For the past six months ? Platforms has been focused, almost entirely, on the completion of sensitive negotiations with major telecommunications service providers and integrators.
ARC System demonstrations scheduled in the U.S.A. and South America for premier South American telecommunications service provider.
Scheduled demonstrations are designed to prove ARC System capabilities, operating under service provider?s telecommunications protocol. Scheduled trials include capacity verification, interference tests, and interconnection and interoperability tests.
ARC System telecom configuration proposed to South American service provider consists of multiple ARC System installations.
ARC System ? Telecommunications Technology Integration and System implementation is now a joint effort between Platforms, a major telecommunications integrator, and two major telecommunications systems technology organizations. Responsibilities are outlined below:
Project Management Organization ? Major telecom system integrator in charge of ARC System ALPHA and BETA Demonstration Projects in U.S.A. and South America.
System Design and Integration Organization -- in charge of ARC System adaptation to specific customer telecom environments.
Airborne Platform Integration Organization -- in charge of integrating ARC System with high-altitude, high-performance aircraft.
ARC System ? High-performance Jet Aircraft is currently being integrated and readied for its ARC System demonstration flights.
Strategic Partnership with International Aircraft Manufacturer ? Negotiations currently under way with international aircraft manufacturer. Under proposed Strategic Partnership, aircraft manufacturer would assume overall management responsibilities for Platforms? flight operations and aircraft maintenance infrastructure.
Platforms International Corporation Do Brazil ? officially formed, registered, licensed, and headquartered in Belo Horizonte, MG, Brazil.
Executive Appointments ? The following executive appointments have been made:
Robert D. Perry, MBA (52) ? Executive Vice President & COO
Charles B. Nelson, MBA, CPA (55) ? Sr. Vice President & CFO
SEC Reporting Status ? A corporate task force under the direction of Charles B. Nelson, CFO, has been formed to advance Platforms to a fully-reporting status with the SEC. Bernstein, Samuels & Co., CPAs are in charge of the company?s general accounting. Unaudited financial statements for F/Y/E June 30, 1997 and 1998, as well as preliminary unaudited financial statements for 1999 have been completed. Upon completion of 1999 unaudited financial statements, Platforms will submit accounting records to Farber & Haas, CPAs for audit and preparation of SEC-compliant, certified financial statements. Corporate Counsel will thereafter submit required forms and applications to the SEC to advance Platforms to a fully-reporting corporation status. It is estimated this project will be completed in the November/December time frame.
Corporate Finance Strategy ? The PICTEL Business Plan has been completed and is being submitted to select corporate financiers to structure short and long-term financing programs for the company.
NOTE: Due to strict non-disclosure agreements with service providers and telecommunications technology integrators ? AND to protect against aggressive incursions by the competition -- the names of entities involved, details of business activities, and the location and schedule of ARC System field trials will not be disclosed at this time. Upon conclusion of ongoing business and execution of contracts, a comprehensive press release will be issued.
Safe Harbor Act Disclaimer
The statements made in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including Platforms? beliefs, expectations, hopes, or intentions regarding future events. All forward-looking statements are made as of the date hereof and are based on information available to Platforms as of such date. Forward-looking statements are an attempt to interpret and project present information into the future, and such statements represent the company?s hopes, beliefs, expectations or intentions concerning future events. However, it is important to point out that interpretations and projections of future events involve assumptions which are qualified and subject to numerous uncertainties, unforeseen events, and material risk factors that could significantly and adversely impact the company?s business, its ability to complete the projects it has undertaken, or deliver the expected result/s. Therefore, actual outcomes and results vary, and may differ materially from those made in forward-looking statements, and there can be no assurance that the plans and goals of the company stated herein may be realized in the time frame/s discussed, if at all.
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