(((((NEWS)))))
WARWICK, R.I., Sep 14, 1999 /PRNewswire via COMTEX/ -- George
Strouthopoulos, CEO and President of Information Companies of America,
Inc. (OTC Bulletin Board: ICOA), announced today that the Company's
subsidiary, WebCenter Technologies, Inc. (WTI), has completed the
design phase of its next generation Internet-enabled Pay Station
Terminal, known as the WebCenter 3000(TM).
The Company had originally planned to release a multi-functional
payphone by the end of July this year, that would offer fax, copy and
print services and pre-paid calling cards as well as traditional local
and long distance calling. Recently, however, the Company added new
members to the management team and assembled an advisory committee,
which resulted in the complete redesign of the WebCenter 3000(TM). The
newly designed unit includes E-Commerce, video capture and speech
recognition applications, and will be provisioned with high-speed
Internet service to deliver streaming video for multimedia
presentations and ensure rapid response times for interactive sessions.
All traditional telephony services, voice, fax and data, will be
delivered over Internet Protocol (IP). The WebCenter 3000(TM) has been
designed to fit in the footprint of existing payphones, facilitating
the removal and upgrading of traditional pay stations.
"We are very excited about the implications of the new design of the
WebCenter 3000," declared Mr. Strouthopoulos. "The impact of this
robust array of service offerings combined with countless new
E-Commerce opportunities, by far surpasses all previous revenue
projections. We have completely restructured our business model to
retain ownership of the pay stations, and offer Placement Partnership
Opportunities to our location providers for a percentage of the service
revenues."
ICOA filed a 504 Private Placement Memorandum with the Securities and
Exchange Commission, earlier this year, to raise and invest $1 million
in WTI to design and build the next generation pay station terminal.
WTI is the sole subsidiary of ICOA, Inc. WTI designs and oversees the
manufacture of new generation pay-stations which feature fax, copy and
print functions, e-mail and Internet access, as well as traditional
payphone services. For additional information regarding ICOA or WTI,
please contact The Compass Point Group, Inc. at 619-525-0800 or ICOA at
800-336-5837.
This press release contains forward-looking statements that involve
risks and uncertainties that could cause actual results to differ
materially from those contemplated herein, including the occurrence of
unanticipated events or circumstances relating to the fact that ICOA is
in a highly competitive industry subject to rapid technological,
product or price changes. Other factors include the possibility that
demand for the Company's products may not occur or continue at
sufficient levels, changing global economic and competitive conditions,
technological and other risks, costs and delays associated with the
start-up and operation of major capital projects and corporate
restructurings, changing government regulations and other risks and
uncertainties, including those detailed in the Company's filings with
the Securities and Exchange Commission. ICOA and WTI undertake no
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
For more information contact: Investor Relations: Eric Horton of The
Compass Point Group, 350 West Ash Street, San Diego, CA 92101,
619.525.0800; or Corporate Communications: William P. Lord of ICOA, 111
Airport Road, Warwick, RI 02889, 401-739-9205.
SOURCE ICOA, Inc.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com -0-
CONTACT: Investor Relations, Eric Horton of The Compass Point Group,
619-525-0800, for ICOA, Inc.; or Corporate Communications, William P. Lord of
ICOA, 401-739-9205 |
