***********NEWS 4/6/99******************
Subj: Greenland Corp News
Date: 4/6/99 11:36:34 AM Eastern Daylight Time
From: check@checkcentral.com (Check Central Admin)
LAKE FOREST, Calif.--(BUSINESS WIRE)--April 6, 1999--Telenetics Corp. (OTC
BB:TLNT) Tuesday announced that it has acquired the AirLink(TM) wireless
technology from Greenland Corp. (OTC:GLCP - news) for an undisclosed sum.
AirLink(TM), a patent pending technology, was developed by Greenland as a
wireless data gathering system for the utility industry.
In announcing the acquisition, Michael Armani, chief executive officer and
president of Telenetics stated that: ''The AirLink(TM) system was developed
primarily as an inexpensive wireless solution for use in residential meter
reading. We believe, however, that this technology, once enhanced, will also
complement our OMEGA(TM) AMR system in industrial and commercial meter
reading and substation automation projects. The AirLink(TM) system adds a
new Radio Frequency solution to our current offerings of cell phone and land
line technologies.''
The AirLink(TM) system enables utility companies to read meters and transmit
the data to a central computer for use in customer billing and load/resource
management. It combines digital hardware, radio transmission circuitry, and
software that, when attached to a standard electric, gas, water or other
traditional utility meter, will read and store data and transmit it back to
a small computer for use by the utility company.
Additionally, the AirLink(TM) system will enable utilities to monitor
resource usage by consumers and to institute differential billing based upon
use of the resource and the time of use and report a potential problem
within seconds of such an event. Greenland has entered into contracts with
three utilities for pilot systems.
The acquisition of the AirLink(TM) technology by Telenetics includes all
related assets, hardware designs, software codes, pending patents,
trademarks and contracts.
OMEGA(TM) stores the serial number or address of the meter and in the event
of a power outage or device malfunctions, reports the site to a central
host. OMEGA(TM) is capable of receiving or initiating communications and
transmitting data as frequently as required by the host application. Since
its introduction in August 1998, Telenetics has shipped several thousand
OMEGA(TM) units valued at approximately $5 million.
Telenetics is a leader in the design and manufacture of proprietary
data-communications solutions for utility and industrial automation
applications. Telenetics offers a broad range of industrial grade dial-up
and leased-line modems, cellular modems, fiber optic line drivers and
wireless automated meter reading products.
For additional information visit www.telenetics.com.
Forward-Looking Statement Disclosure: Certain of the statements contained in
this news release are ''forward-looking statements'' that involve risks and
uncertainties. Actual future results could differ materially from these
statements. Factors that could cause or contribute to such differences
include but are not limited to those discussed in the company's Form 10-KSB
for the year ended March 31, 1998 and Form 10-QSB for the quarter ended
Sept. 30, 1998.
Web site: greenlandcorp.com or checkcentral.com
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