Something seems to be going on ADVC today.
The volume has increased quite substantially on the up-side.
There was some news about a week ago about some deals of its Australian subsidiary (See below)
The caveat is that the insiders have filled forms 144 for "proposed sales" in large amounts since Oct. and more so in Jan.
I am still waiting for the NASDAQ to close above the 3000 or the DOW above 11000 to change my mind about "the market" <g>
Here are the "news" on ADVC:
LOS ANGELES--(BUSINESS WIRE)--Jan. 23, 2001--Advanced Communications Technologies Inc (OTCBB:ADVC - news; ACT-US), today announced that one of its Australian based associate companies, Advanced Network Technologies Pty Ltd (ANT), has acquired all outstanding shares of DataLink Pty Ltd. The company will continue operation as a wholly owned subsidiary of ANT.
DataLink Pty Ltd is a well established 23 year old sales and marketing company operating in the field of analogue trunk radio. Perhaps most importantly, the new acquisition provides ANT with an existing customer base of 275,000 users. DataLink is currently, and has consistently been a very profitable operation and is expected to generate in excess of $A10 million in revenues during 2001. ANT will also have use of a technology developed by DataLink known as Mobile Information Manager (MIM).
MIM is a mobile/wireless data and voice communications terminal fitted to vehicles that allows for the input, recording and transmission of an extensive range of data to a central repository, as well as providing a communications link between mobile vehicles and the central communications center. Emergency services, mobile sales and services operators, truck drivers, taxis, couriers and many other similar users will be able to use the MIM terminal in place of a hand held radio. The MIM terminal also has full GPS capabilities.
DataLink is in the early stages of converting its extensive customer base from the analogue services to the new MIM/Tetra style applications.
Commenting on the new acquisition, Roger May, Chief Executive Officer of Advanced Communications Technologies said, ``DataLink's existing customer base of analogue trunk radio users provides the perfect compliment to ANT's recently acquired TETRA network technology. As the TETRA system is the digital equivalent of analogue trunk networks and offers many additional features, we believe we will be able to transfer DataLink's existing customers onto the ANT TETRA network. Securing of this customer base establishes an important step in ANT's ultimate goal of providing a leading edge nationwide wireless data and telecommunications service both in Australia and in several other locations globally.''
While the value of ANT's network technologies will be proven locally, ACT-US is already laying the foundations to replicate ANT's success. Moves to date have included the establishment of the ACT-US controlled Advanced Network Technologies (US) Inc (ANT-US) and the proposed acquisition of Digital Comm Link Inc. Upon completion, this acquisition will provide ACT-US with the necessary network infrastructure to both replicate ANT services and demonstrate its flagship product, SpectruCell. Several other important acquisitions are currently in process in the United States.
``ANT's network provides the dual benefits of high-end wireless services and a demonstration platform for some new applications for ACT's SpectruCell technology. This ability to implement SpectruCell type applications in a real world environment will provide us a powerful tool in our quest to demonstrate the many benefits of the SpectruCell wireless base station,'' said May.
About Advanced Network Technologies
Advanced NetWork Technologies Pty Ltd (ANT) is a wholly owned subsidiary of Advanced Communications Technologies (Australia) Pty Ltd (ACT-Australia). Advanced Communications Technologies Inc holds a 20% stake in ANT through it's investment in ACT-Australia. ANT is in the process of formulating a national network for leading edge wireless data and telecommunications services. In addition, ANT's network will provide a test bed for ACT's SpectruCell technology.
About Advanced Communications Technologies
Advanced Communications Technologies Inc. (OTCBB:ADVC - news) is a leader in the field of Software Defined Radio that in conjunction with its Australian based affiliate has developed a proprietary, multiple-protocol wireless base-station, ``SpectruCell.'' Through eliminating the use of Qualcomm (NASDAQ:QCOM - news) chipsets, protocol specific hardware and by conducting all signal processing in software, SpectruCell provides for simultaneous support of multiple mobile communications protocols (CDMA, WCDMA, UMTS, GSM & 3G) all in the same base-station. Support for additional protocols is achieved through the uploading of additional software modules. By implementing the company's SpectruCell technology network providers will be able to maintain service to their existing customer base and preserve the full utilization of their existing network infrastructure while at the same time securing a highly flexible migration path for evolving 3G-based protocols such as WCDMA and UMTS. SpectruCell is complemented by several other wireless technologies currently under development in Australia. Advanced Communication Technologies Inc. plans to market these products throughout North, South and Central America. For more information regarding Advanced Communications Technologies, visit www.act-usa.net.
LOS ANGELES--(BUSINESS WIRE)--Jan. 22, 2001--Advanced Communications Technologies Inc. (OTCBB:ADVC - news; ACT-US) today announced that its Australian based affiliate, Advanced Communications Technologies (Australia) Pty. Ltd. (ACT-Australia) has received the first $A4.78 million of the AusIndustry grant previously awarded in September 2000. In addition, AusIndustry has also approved an increase in the initial grant from $A11.8 million to $A13 million. The grant is believed to be the largest of its type ever awarded in Australia.
``AusIndustry's initial grant approval was a major vote of confidence in the SpectruCell technology and this latest increase is an important re-statement of the Australian Government's belief and confidence in SpectruCell. It also provides further evidence of their commitment to provide substantial support for an innovative leader in the global 3G telecommunications infrastructure market,'' said Roger May, Chief Executive Officer of ACT. ``The additional financial support from the Australian Government will be of great assistance in helping to accelerate our efforts to launch the revolutionary new 3G ready SpectruCell multiple protocol wireless base station into the global marketplace earlier than originally planned.''
ACT-Australia has recently undertaken to double its technical resources and has employed an additional 20 engineers in the last two weeks. The company is avidly pursuing the hiring of new technical staff from all over the world.
May added, ``The additional financial support combined with other funding initiatives will greatly assist in an early launch of SpectruCell into the US marketplace, the largest marketplace in the world. ACT-US is currently in the process of developing new marketing initiatives and extensive strategic relationships within the United States aimed at firmly establishing a nationwide distribution network for the SpectruCell multiple protocol wireless base station.'' ACT-US owns the exclusive rights to SpectruCell in both North and South America and is increasing its efforts to implement the revolutionary 3G ready base station into the South American marketplace.
The AusIndustry grant is a staged funding designed to be drawndown progressively over the development of the SpectruCell technology. The funding is a matching grant with AusIndustry providing ACT-Australia with one dollar in funding for every two dollars spent in the development of SpectruCell. Importantly, the funding is non-repayable and tax-free which provides ACT-Australia with a highly effective means of complementing its research and development spending.
ACT-Australia has already completed successful proof-of-concept tests of the SpectruCell prototype unit and is currently in the process of finalizing several major partnerships to assist in the development and marketing of SpectruCell.
``With successful tests completed, ACT now has the ability to definitively demonstrate the capabilities of SpectruCell. Industry discussions to date have indicated a high degree of interest in co-development projects from major industry players, including Cisco (Nasdaq:CSCO - news), Mitsui (Nasdaq:MITSY - news), NEC (Nasdaq:NIPNY - news), Qualcomm (Nasdaq:QCOM - news), Texas Instruments (NYSE:TXN - news), Lucent (NYSE:LU - news), Analog Devices (NYSE:ADI - news), Orange and many others. We are extremely pleased with the interest in the SpectruCell technology and anticipate a substantial increase in worldwide interest in SpectruCell as the technology reaches network integration phase later this year,'' says May.
About AusIndustry
AusIndustry is the Australian Government's principal agency for delivering information, programs and services which support industry, research and innovation. An agency of the Commonwealth Department of Industry, Science and Resources (ISR), AusIndustry serves the needs of Australian businesses in the manufacturing, resources and services sectors seeking to enhance innovative activities and improve competitiveness. AusIndustry does this by providing a range of commercial incentives and information services for Australian businesses. For more information visit the AusIndustry website at ausindustry.gov.au.
About Advanced Communications Technologies
Advanced Communications Technologies is a leader in the field of Software Defined Radio that has developed a proprietary, multiple-protocol wireless base-station -- SpectruCell. Through eliminating the use of Qualcomm (Nasdaq:QCOM - news) chipsets, protocol specific hardware and by conducting all signal processing in software, SpectruCell provides for simultaneous support of multiple mobile communications protocols (CDMA, WCDMA, UMTS, GSM & 3G) all in the same base station. Support for additional protocols is achieved through the uploading of additional software modules. By implementing the company's SpectruCell technology network providers will be able to maintain service to their existing customer base and preserve the full utilization of their existing network infrastructure while at the same time securing a highly flexible migration path for evolving 3G-based protocols such as WCDMA and UMTS. SpectruCell is complemented by several other wireless technologies currently under development in Australia. Advanced Communication Technologies Inc. plans to market these products throughout North, South and Central America. For more information regarding Advanced Communications Technologies, visit www.act-usa.net. |
