KNSC news: nice timing at close and the British open. add this to Monday's gappers with FDKP, SSCP, JPEI
Friday July 21, 3:49 pm Eastern Time
Company Press Release
SOURCE: Voice & Wireless Corporation
Voice & Wireless Corporation, Formerly Known as Kensington International Holding Corp., Announces Its Involvement With a New Wireless Electronic Monitoring System From Stroke of Fortune, Inc.
Golf Courses Receive First Commercial Applications of Wireless Electronic Monitoring System
MINNEAPOLIS, July 21 /PRNewswire/ --
Voice & Wireless Corporation, formerly Kensington International Holding Corporation (OTC
Bulletin Board: KNSC - news), which markets text-to-speech internet technology and manufactures computer kiosks and other commercial display fixtures, announced today that it has entered into a joint venture agreement with Stroke of Fortune, Inc. of Minneapolis. Under the agreement, Voice &
Wireless has provided the final funding necessary for Stroke of Fortune to complete the installation of its first of five wide-angle, wireless electronic monitoring systems. Three of the systems have been utilized as beta test sites over the last eighteen months. Testing was successfully completed during the last week of June. The other two systems will be complete by August 1st in North Carolina.
Revenues from the systems should commence during August.
The wireless monitoring system covers 180 degrees of a field of view and functions in all kinds of weather. The cameras are monitored by a host computer at the course and simultaneously transmit wirelessly to the central monitoring computer in Minnesota. Stroke of Fortune's central monitoring computer system allows for wireless monitoring of any location in the world. The applications are numerous and include security monitoring. The first five commercial applications will be on golf courses. On the golf course, the system can monitor rate of play, security, and video a golfer hitting a ball and where it lands on the green. ``Golf course owners view the system as multi-purpose,
including being a significant revenue generator,'' stated Chris Edwards, executive vice president of
Stroke of Fortune, Inc.
The revenue generating aspect of the system is where the camera videos the golfer's tee shot, the golf
ball's flight to the green, and documents where the ball lands on the green. If the golf ball lands within
ten feet, or less, of the pin, then the golfer receives a gift certificate for the pro shop. The golfer wins
a cash prize if the player gets a hole in one. Any golfer whose ball lands within six feet, or less, of the
pin earns the right to play in a $1,000,000 annual ``Closest-to-the-Pin'' Tournament. Typically, the
golf courses will charge extra during the first year and then go to a system where every player is
charged as part of the greens fee. Stroke of Fortune will receive from $1 to $3 per player and Voice
& Wireless will receive seven (7%) percent of those gross revenues for as long as Stroke of Fortune
operates the wireless monitoring systems.
John Zentz, president of Stroke of Fortune, stated that, ``The financial support from Voice &
Wireless Corporation came at a critical time which allowed us to successfully complete the beta tests
and to commence additional installations. The reaction of golfers and the golf course owners has been
tremendous. As a result of the initial reaction, over 100 courses have called requesting the system
and we have not done any advertising.'' Mark Haggerty, president of Voice & Wireless Corporation
stated that, ``With over 526 million rounds of golf played annually, in the United States alone, Stroke
of Fortune's wireless monitoring system for golf courses could become one of our biggest passive
income generators providing millions of dollars in annual revenues.''
Another wireless technology that Voice & Wireless Corporation is coming out with is the patent
pending ``wireless ear-bud'' developed by Dr. Barry Voroba, C.E.O. of MicroTalk Technologies
and former president of Bausch & Lomb Hearing Systems Division. The patent that is pending on the
``wireless ear-bud'' system has over 40 claims. The ``wireless ear-bud'' system is placed in the outer
``bowl'' or concha of the ear and permits hands free use of any cellular phone. The ``wireless
ear-bud'' system also provides privacy listening for any multimedia computer or stereo system as well
as most televisions on the market today. The ear-bud should be ready for market in the fall of 2000.
Dr. Voroba also invented and patented the first soft hearing aid and owns the patents for the ``low
feedback wireless telephone'' and the ``compact wireless telephone.''
Voice & Wireless Corporation has an Internet presence at knscintl.com
The preceding statements are made pursuant to the Private Securities Litigation Reform Act of 1995,
as amended, in order for the Company, MicroTalk Technologies, Inc., Stroke of Fortune, Inc. and
MAIL CALL, INC. (jointly referred to herein as the ``parties'') to avail themselves of the ``safe
harbor'' provisions of that Act, as amended. Certain statements in this release and the Parties'
financial projections that are not historical fact constitute ``forward-looking information.'' Such
forward-looking information involves known and unknown risks, uncertainties and other factors,
which may cause the actual results of the Parties to be materially different from results expressed or
implied by such forward-looking information. Such risks, uncertainties and other factors include, but
are not limited to: customer demand not meeting expectations; lack of consistent supply of hardware
and software to service demand; lack of adequate distribution markets; the inability to generate
enough cash to service operations; the loss of the right to resell or use others' products; adverse
economic conditions; intense competition; inadequate capital; unexpected costs; lower revenues and
net income than expected; loss of customers; price increases; failure to obtain customers; the possible
acquisition of a new business or products that do not perform as anticipated; inability to carry out
marketing and sales plans; changes in interest rates; inflationary factors; inability to meet customer
demand and other specific risks that may be alluded to in this press release or in other reports issued
by the Parties.
SOURCE: Voice & Wireless Corporation |
