News from August 22, 1997
News Alert from Market News Publishing via Quote.com
Topic: Cancall Cellular Communications Inc.
Quote.com News Item #3782090
Headline: CANCALL CELLULAR COMMUNICATIONS INC - SIMS COMMUNICATIONS INC. -
Debitlink Receives USA Patent Approval
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Eric Cardey, President & CEO of Cancall Cellular Communications Inc.,
announces that SIMS Communications Inc.'s subsidiary, New View Technologies
Inc., has received patent approval on its 27 Claim Telephone Debit Card
Dispenser and Method Patent. The patent, which covers the DEBITLINK
ATM/Point of Sale terminal, will be issued shortly.
The patent covers the dispensing of prepaid cards, including telephone
debit cards, prepaid cards, NETWORTH cards, affinity cards and stored value
cards (all referred to as "tokens" in the electronic commerce industry)
from an unattended DEBITLINK terminal. The key feature of the patent is
the activation of a token at the point of dispensing having a value
selected by the customer. The token inventory in the terminal has no
value. Upon payment by the customer, the selected value is added to the
token, a security code is issued by a host computer or telephone switch and
the desired token is dispensed, all in real time. Payment is accepted by
cash, credit cards, debit cards or ATM cards.
Michael Malet, President of New View Technologies, stated, "We are
extremely pleased to have received approval of all 27 claims in our first
patent application. The importance of this new technology cannot be
overstated and we are utilizing all resources to protect its integrity
through additional patent pending applications."
Mel Leiner, CEO of SIMS, added, "The 1997 projected $2 billion dollar
prepaid calling card industry currently utilizes "live" inventory. Our
technology will dramatically reduce the high cost of live inventory while
addressing fraud and shrinkage problems plaguing the industry."
CANCALL has also entered into discussions, relating to the conversion
of the bonds issued in October 1996 to Cancall Class A CDN $1.00 Par Value
Voting Preferred Shares, with its bond holders.
Cancall is an international "electronic commerce" company providing
prepaid refillable financial products to the electronic merchandising
market. Cancall is listed on the Vancouver Stock Exchange and is trading
under the symbol CLE.
TEL: (604) 685-6465 Eric Cardey, President & CEO
FAX: (604) 688-4881 |
