The CYSS pump-and-dump is falling apart.
"ncite" over on ragingbull.com was checking out the March 25/99 announcement of CYSS's claimed purchase of part of Academy Network Solutions (supposedly the largest ISP in Italy) and clicked on some of the WWW links on the announcement. It seems that the Academy URL is now being used by an Oklahoma advertising company. Also, Crys-Tel Italia's website is gone. Try 'em:
Academy Network Solutions - academy.net
Crys-Tel Italia - crys-tel.it
This raises some serious questions:
- was Academy Network Solutions a fictional company?
- was there ever a Crys-Tel Italia?
- was the March 25 announcement a complete pack of lies, written only to entice investors to buy CYSS stock?
Here's the full announcement:
Thursday March 25, 1:49 pm Eastern Time
Company Press Release
Crys-Tel Telecommunications.com, Inc. Announces Completion of Purchase of Academy Network Solutions
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--March 25, 1999--Crys-Tel Telecommunications.com, Inc. (OTC Bulletin Board:CYSS - news) announced today that the company has finalized the purchase of 20 percent of Italian-based Academy Network Solutions for 709,000 restricted shares of Crys-Tel.
With offices throughout Italy and New York, Academy provides turnkey Internet services, satellite communications, networking, telephony and E-commerce solutions to its corporate customers. Academy Network Solutions is currently the single largest ISP (Internet Service Provider) in Italy with over 200 POPs (Points of Presence) across the country. Plans for expansion into several other countries in Europe are currently under way with the first POPs scheduled for Germany in mid-April.
Academy plans to have over 400 POPs throughout Italy and the rest of Europe by the end of 1999.
Additionally, Academy Network Solutions has recently acquired 25 percent of Crys-Tel Italia from our partners in Italy.
Hence, Crys-Tel Italia is now 25 percent owned by Academy, 45 percent owned by the founders of Crys-Tel Italia, and 30 percent owned by Crys-Tel Telecommunications.com, Inc.
ABOUT NETWORK ACADEMY SOLUTIONS
Academy Network Solutions was formed two years ago with one point of presence in Italy. They are currently the largest ISP in Italy with over 200 points of presence. Academy is a partner of the Eurocom Group, which is one of the leading telecommunications groups in Israel. The company provides turnkey Internet and Telephony operations to corporate customers. In 1998, Academy Network Solutions had revenues of $4.5 million USD. The company projects revenues of $75 million USD for the year-end 1999 due in part to a recently finalized $42 million USD contract with a major telecommunications group in Italy.
ABOUT CRYS-TEL TELECOMMUNICATIONS.COM, INC.
Crys-Tel Telecommunications.com, Inc. is a facilities-based international carrier that utilizes the Internet to provide economical international telecommunications services. The company operates both as a wholesale carrier for international long distance resellers and as a retail carrier, servicing its own network, and marketing the use of the network to consumers in designated areas. Crys-Tel combines advanced engineering and system integration along with the resiliency of Nokia's IP Telephony solution to ensure users' high quality services over the Crys-Tel network.
Statements regarding financial matters in this press release other than historical facts are ``forward-looking statements' within the meaning of section 27 A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements are subject to the safe harbors created thereby. Since these statements (future operations results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
Academy Network Solutions www.academy.net
Crys-Tel Italia www.crys-tel.it
Contact:
Crys-Tel Telecommunications.com, Inc.
Anthony Papalia, 604/662-3667
604/662-3734 (fax)
Website: www.crys-tel.com
E-mail: anthony@crys-tel.com
or
Academy Network Solutions, Website:
www.academy.net
or
Crys-Tel Italia, Website: www.crys-tel.it |
