INNOVATIVE COMMUNICATIONS TECHNOLOGIES INC. BEGINS OTC TRADING
ict.net
PRESS RELEASE
For Immediate Release:
September 12, 2000
Contact: Barry Henthorn
Innovative Communications Technologies Inc.
Phone: (206) 812-3500
Fax: (206) 812-3800
Scott Selby
The Fearey Group
Sselby@feareygroup.com
(206) 343-1543
INNOVATIVE COMMUNICATIONS TECHNOLOGIES INC. BEGINS OTC TRADING
Sept. 12, 2000 (SEATTLE) -- Seattle-based Innovative Communications Technologies Inc. (OTC:ICTN), developer of Global Private Telecommunications Networks (GPTN) for businesses, has begun trading Over-the-Counter under the ticker symbol ICTN.
Innovative is a leader in the development, implementation and positioning of the Private Telecommunications Industry. Through its GPTN product, Innovative provides businesses with their own private telephone network, doubling call capacity while cutting phone bills by at least 50 percent.
"Innovative is revolutionizing the telecommunications industry as we know it," said CEO Barry Henthorn. "In a year or two, most businesses in the world will have the ability to lease their own private telephone network and the concept of per minute billing by long distance carriers will be obsolete."
"That is just the beginning," Henthorn added. "Innovative will apply the same revolutionary approach to data and video transmission, with similar cost savings to businesses."
GPTN, developed by CEO Barry Henthorn, combines proprietary patent-pending leading-edge packet switching technologies and dedicated fiber optic networks. Innovative's Voice Over Packetization Technology (VOPT) uses packet switching instead of traditional circuit switching when routing calls. With GPTN, calls begin and end on existing local lines and use dedicated fiber optic networks for the long distance portion of the call. Customers use their existing equipment and pay only a flat rate instead of per minute billing.
Innovative's management team consists of Barry Henthorn, CEO and CTO who founded the company in 1988; Ron Henthorn, chairman and CFO; Leslea McLean, director of operations; Sean Lamont, director of engineering; and Ryan Bloom, director of technologies.
Since 1988, Innovative has been a pioneer in the development and positioning of private telecommunications networks for businesses.
This news release contains forward-looking statements, including statements regarding Innovative's expectations about successfully expanding its GPTN business and securing significant additional customers for its services. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the loss of a large customer, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of GPTN services, the loss of any key personnel, tightening regulation of the communications technologies and channels used in our systems, our inability to introduce new services that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of existing and potential litigation, and the possibility that competitors could develop or acquire technology that could erode Innovative's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release. |
