(BSNS WIRE) Innovative Holdings Retains Audit Firm: Expects to Fully Com
Innovative Holdings Retains Audit Firm: Expects to Fully Comply With NASD
Eligibility Rule
Business Editors
ORLANDO, Fla.--(BUSINESS WIRE)--Sept. 22, 1999--Innovative
Holdings & Technologies, Inc. (OTC BB:IHTL) has retained the
accounting and auditing firm, DiRocco & Dombrow, P.A. to assist the
Company in the process of complying with the new Eligibility Rule
required by the National Association of Securities Dealers, Inc.
(NASD) for OTC Bulletin Board companies.
Helmut Wyzisk, President & CEO of Innovative Holdings &
Technologies, Inc. said, "Retaining DiRocco & Dombrow, P.A. is a major
step in enabling the Company to become a fully reporting public entity
in line with the new OTCBB Eligibility Rule, and to bring us a step
closer to our ultimate goal: a listing on the NASDAQ exchange."
Innovative Holdings & Technologies, Inc. identifies, acquires and
incubates early stage niche technology companies with outstanding
growth potential.
The Company is currently in the final development stages of a
worldwide Internet sports network: Sports Entertainment Network
One.Com (www.sen1.com), which is billed as "the total Internet sports
experience." www.sen1.com will provide virtual, real time
participation for Internet users with 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.
A key component of www.sen1.com is the new X/T Broadcast Sports
Information technology developed by Xtreme Telemetry Systems, Inc., an
IHTL subsidiary. This revolutionary data collection and transmission
system delivers an incredible stream of critical "real time" telemetry
data on physical performance (heart rate, body temperature,
respiration, stress levels, and more), equipment and vehicle
performance, plus important environmental data displayed on-screen for
the Internet audience, and on network television.
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.
--30--gaa/mi*
CONTACT: Innovative Holdings & Technologies Inc., Orlando
Phil Flynn, Investor Relations, 800/392-7961
www.innovativeholdings.com
KEYWORD: FLORIDA
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS SPORTS
INTERACTIVE/MULTIMEDIA/INTERNET ENTERTAINMENT
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