NEWS!.... 2 new powerful execs hired plus alliances with FOX, ESPN/ABC and Turner Broadcasting for their "YOU ARE THERE" telemetry and Global Sports Network Network. Execs were with Lockheed Martin, NASA, and Martin Marietta.
ALSO: They are already signed up to do the INDY 500. Also did a demo this week for the PGA.
WINTER PARK, Fla.--(BUSINESS WIRE)--March 18, 1999--Innovative
Holdings & Technologies, Inc.'s (OTC BB:IHTL) wholly-owned subsidiary,
Extreme Telemetry Systems, Inc., has named two technology veterans to
head up the development of the Company's revolutionary new TV
broadcast and internet information services. Extreme Telemetry
Systems, Inc.'s new data capturing technologies will enable broadcast
viewing audiences to virtually "see and feel" vital information on an
athlete's bio/physiological performance, equipment operation and
response, and deliver relevant environmental readings on a "real time"
basis.
Michael Spitze has been named Vice President, Technology
Development and Operations. He was formerly with Lockheed Martin
(NYSE:LMT) where he helped develop military and civilian simulation
systems including the US Air Force's practice simulator for the B1
Bomber and the F-15 Fighter.
He also worked closely with the CREOL Laser Development Team at
the University of Central Florida where he helped design Diode-Pumped
Solid State (DPSS) lasers systems that are now used in medical,
scientific and entertainment applications.
Vincent Paiano is the Company's Senior Technology Consultant. He
is currently the head of the Computer Simulation Technology Lab at the
University of Central Florida.
He has worked with NASA developing systems designed to acquire
and monitor physiological data from astronauts involved with America's
space program.
Paiano was formerly with Martin Marietta where he helped develop
laser guidance systems for the US military's Copperhead missile
program, and with General Electric (NYSE:GE) where he was involved in
power management system development.
Innovative Holdings & Technologies, Inc. identifies, acquires and
incubates early stage niche technology companies with outstanding
growth potential. The Company is also creating the Global Sports
Network, "the total internet sports experience," which will provide
virtual real time participation for internet users in sporting events,
user-friendly on-line games, e-commerce and face-to-face audio and
video chat rooms. It has also entered into a strategic alliance with
iChargeit.Com (OTC BB:PLNKD) to present virtual games and sports
product marketing on their e-commerce internet site. Through its
Xtreme Telemetry Systems, Inc. subsidiary, IHTL is aggressively
developing strategic alliances and joint ventures with key corporate
players and broadcast networks like ESPN/ABC (NYSE:DIS), Fox
(NYSE:FOX) and Turner Broadcasting (NYSE:TWX). IHTL is also developing
a Sports Training Division with applications including Thoroughbred
Horse Racing, Olympic Training, X-Sports, Boxing, Golf, Skiing,
Tennis, Motorsports and many other action sports venues.
The statements contained in this release which are not historical
facts contain forward-looking information with respect to plans,
projections or future performance of the company; the occurrence of
which involves certain risks and uncertainties that could cause the
company's actual results to differ materially from expected results.
Such risks include the timing of implementation and the scope and
success of the program described here.
--30--cp/mi*
CONTACT: Innovative Holdings & Technologies, Inc., Winter Park
Scott Flynn, Investor Relations
888-338-3367
KEYWORD: FLORIDA
INDUSTRY KEYWORD: ENTERTAINMENT COMED
INTERACTIVE/MULTIMEDIA/INTERNET SPORTS MANAGEMENT CHANGES
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