I am curious what the technical folks on this thread think about this announcement. I posted it on the last mile thread and they suggested I ask this group. TIA
emergencyops
FREE EDGAR:
On April 20, 2000, New Wheel Technology, Inc., a wholly owned
subsidiary of New Visual Entertainment, Inc., entered into an agreement with
Lucent Technologies' NetworkCare Professional Services for the purpose of
helping to test and validate the Company's Cu@OCx(TM) broadband internet
transmission technology.
The agreement calls for Lucent NetworkCare Professional Services to act
as an independent evaluator in conducting a test of the Cu@OCx(TM) technology
and prepare a report on its performance. New Wheel is seeking an independent
evaluator to evaluate, in particular, the bit error rate, speed and distance of
the data transmission achieved by the technology. New Wheel is attempting to
achieve a High Speed Metallic Transmission at 52 Mbps (megabits per second)
speed over an 8,500 foot distance on 26 gauge wire, with hopes to expand the
distance capabilities of the technology to approach or exceed a target
transmission distance of 15,000 feet.
Lucent's agreement to act as an independent evaluator of the Cu@OCx(TM)
technology does not constitute an endorsement of the technology.
As the Company reported in its Current Report on Form 8-K, dated
February 14, 2000, when the Company completed its acquisition of New Wheel
Technology, Inc., 10 million shares of the Company's common stock were issued to
an escrow agent to be released to the former stockholders of New Wheel upon the
achievement of a technological development milestone set forth in the merger
agreement between the Company and New Wheel. Subject to the provisions of the
merger agreement, this milestone will be achieved upon verification by an
independent evaluator that the Cu@OCx technology enables the transmission of
data at 51.2 MBps over an 8,500 foot distance on 26 gauge wire.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NEW VISUAL ENTERTAINMENT, INC.
Dated: May 17, 2000 By: /s/ Ray Willenberg, Jr.
---------------------------
Ray Willenberg, Jr. |
