Kimberly, do you know of any other companies doing voice-over-internet services that are publicly traded? I need a comparison. Thanks
LITEWAVE CORPORATION COMPLETES JOINT VENTURE AGREEMENT WITH CROSNA/ROSTELECOM FOR VOICE-OVER-INTERNET SERVICES FOR RUSSIA
September 14, 1999 - Kirkland, WA - Ken Martin, CEO and Director announced today that "LiteWave Corporation has signed a formal joint venture agreement with ZAO NPO Crosna of Moscow, Russia The agreement establishes the formation of a Russian based company, LiteWave East, to be 50% owned each by LiteWave Corporation and Crosna. The purpose of this new company will be to provide digitized long distance telecommunications carrier services for the 89 regional carriers throughout Russia, via terrestrial bandwidth and satellite network, utilizing Voice over Internet Protocol (VoIP). Crosna currently holds a license for telecommunications in the Russian Federation, and as consideration for their participation in LiteWave East, they are extending their privileges to this joint venture.
This new agreement expands upon the original Letter of Intenet between the Company and Crosna to install and operate VoIP gateways to handle domestic and international voice, fax and data communications within the Russian Federation.
The Crosna Group controls 34 separate companies involved in telecommunications, banking, financial services and manufacturing. Crosna Bank is among the largest banks in Russia. Crosna's Telecom division is a satellite carrier of data transmission for the incumbent Inter-exchange carrier in Russia and primary carrier for all 89 regional carriers within Russia. Crosna has established a comprehensive satellite communications network for purposes of organizing communications in the Russian Federation, covering territory from 70 degrees Southern latitude to 70 degrees Northern latitude, from Moscow to the Pacific Ocean.
Ken Martin further stated "I believe that this agreement is unparalleled in communications. It clearly shows that emerging market opportunities exist in VoIP."
litewavecorp.com |
