Offering Cellular Airtime in Hawaii
CANCALL CELLULAR COMMUNICATIONS INC. ("CLE-V;CCCAF-L")
- Offering Cellular Airtime in Hawaii
Eric Cardey, CEO and Director of Cancall Cellular Communications announces that Cancall will
now be offering cellular airtime in Hawaii utilizing GTE Mobilenet, the only statewide cellular
carrier. GTE offers the most competitive airtime rate available as well as access to it's main switch
allowing Cancall to offer "real-time" billing utilizing new proprietary software, without the need for
specialized handsets or computer (TRACPLUS). This agreement will allow Cancall to offer its
services on all the Hawaiian Islands, whereas, in the past Cancall was only offering services on the
island of Oahu.
Due to the inability of the Telemac Tracplus to perform its functions, Cancall was forced to increase
staffing to compensate for the failings of the equipment. As Cancall is no longer utilizing the
Tracplus, the Company is able to cut back its operating overhead significantly. Revenues have
however been significantly lower and accounts receivable higher than anticipated during this
transition phase.
The cellular rental accounting equipment provided by Sims Communications Inc. has been tested
successfully in Cancall's Los Angeles / Anaheim location. The Company is now confident that it
can support its current market and client base with a smooth transition. Cancall is in the process of
negotiating arrangements with potential joint venture partners in several locations. The Company
has sourced several organizations with synergistic operations that will allow the Company to reduce
or eliminate many operating expenses.
The Company wishes to announce the setting of 1,100,000 Director Employee options at a price of
$0.32. The Company has also reached agreement with certain of its creditors to issue shares for
debt in the amount of $485,000 at a price of $0.32 per share. The Company has also negotiated a
private placement of 1,600,000 shares at a price of $0.25 per share generating $400,000 for
ongoing working capital. All of the above transactions are subject to VSE approval.
The Company has now moved all management, administration and accounting functions to its
Vancouver offices in an effort to streamline operations. Mr. Eric Cardey, the Company's newly
appointed CEO has completed his initial review of operations and has now been designated by the
board to coordinate all of the Company's business affairs. Messrs. Howe and Taxin have stepped
down as Directors and Officers to allow Mr. Cardey to designate new management and operational
staff. The Company's Annual General Meeting has been set for July 23rd, 1997.
TEL: (604) 685-6465 Eric Cardey, CEO and Director
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