OT: This Co is very close to real time streaming at 28.8K. Read through it and see what you think.
Here are 2 press releases from a Co I recently started following. The symbol has been changed to CVGT. The "D" was attached at one time as they were going to change their name but have since decided not to.
Prime Video is very close to Broadcasting over 28.8k lines in real time and Galaxy-net.net seems to think they have the right technology such that they chose to merge with Prime Video when other more lucrative bids were on the table.
Galaxy-net presently uses RNI for their streaming software but expects to be utilizing Prime Videos technology in the near future at much higher rates. The Co will be doing some testing in May to put it all together (Pre, Trans and Post processing technology) and is working on making the Post processor a download software. It is expected that they will achieve real time (30FPS) rates with the combination of the 3 technologies. They will then apply this to their Galaxy-net.net website and add Broadcasting which will make Galaxy-net the only site with 30 FPS broadcasting rates at 28.8K. This should occur sometime this summer if testing goes well.
I have talked with the Pres. Ted Wong a couple of times and will try to meet him during my trip to TGCC May 21st. He wants to Demo the technology for me. I'm intrigued with the potential now that the two Co's have merged. Galaxy-net is about a 3-4 mil Rev Co now but have several large proposals they expect to sign by summer which would jump their Revs substantially.
Convergent Companies Inc. Announces an Acquisition of License of Internet Related Technology
SANTA CLARA, Calif.--(BUSINESS WIRE)--March 25, 1999--Convergent Companies Inc. (OTC BB:CVGTD) announced the purchase of PrimeVideo Inc., a privately held company located in Santa Clara, California.
Prime Video has purchased license rights to technology that it believes will improve and better use the limitations of ordinary telephone line infrastructure to bring Video to Internet e-commerce.
Like it or not we are stuck with the small bandwidth of ordinary telephone lines for most connections to computers. Prime's licensed technology makes maximum use of the ordinary telephone line by compressing the data in the pre and post processors without loss of quality and use of a proprietary technology to transmit data.
Prime's licensed technology comprises three segments. Pre-processing, transmission and post-processing. The pre-processing reduces the amount of information, while maintaining the integrity of the analog waveform. The transmission is accomplished so that only a fraction of the video information need be transmitted so that the information can be reconstructed at the receiving end. The post-processing results in an apparent higher frame rate.
Forward looking statements in this release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
CONTACT:
Convergent Companies Inc., Santa Clara
Ted Wong, 408/727-4530
KEYWORD: CALIFORNIA
WebCash & Galaxy.NET Purchased by Convergent Cos.
SANTA CLARA, Calif.--(BUSINESS WIRE)--April 9, 1999--Convergent Cos. Inc. (NASD BB:CVGTD) announced Friday that it has acquired controlling interest of WebCash Corp. and Galaxy.NET Telecom Inc., both private companies, located in Campbell, Calif. for an undisclosed amount of cash and stock.
These acquisitions represent the completion of Convergent Cos. initial acquisition program to offer E-Commerce (one stop for credit card, electronic checks, 1-900 billing and 1-800 credit), solutions to websites and Broadcast capabilities to website hosted by the company.
WebCash is presently offered to its E-Commerce web site hosted customers. Prime Video, a wholly owned subsidiary of Convergent Cos., will provide proprietary video technology to the web hosting customers to provide the best video possible. The company plans to announce and exhibit this new service at the National Associations of Broadcasters show in Las Vegas April 19-21, 1999.
The company has completed a 24 month beta test of its WebCash service in which 300 web sites were enabled to use WebCash. During the beta test over 400,000 transactions with $4 million of commerce were successfully completed. The company has development work and testing on going with major corporations and expects to be able to announce in the near future the launches for these new customers.
The company currently hosts web sites for 300 customers and does web site development for 50 customers. Some of the customers use multiple company services.
Convergent Cos. and its acquired companies currently employ 24 full and part time people.
Convergent Cos. will expand its board of directors to seven persons. Michael Lindsay, CEO and president of Galaxy and WebCash will join the board.
Forward looking statements in this release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission. BPN has received compensation for the preparation of this report.
CONTACT:
Buying Power Network, Boca Raton, Fla.
Terry Joyce, 561/361-9277
561/361-9217 (fax)
KEYWORD: CALIFORNIA
Internet Broadcasting Services Announced by Convergent Companies
SANTA CLARA, Calif.--(BUSINESS WIRE)--April 19, 1999--Convergent Companies, Inc. (NASD BB:CVGTD) announced today that its recent acquisition of Galaxy-NET Telecom provides a proven, global platform for multimedia Internet broadcasting.
As a preferred service bureau of Real Networks, Galaxy-NET is currently providing Internet broadcasting services for Mountain Zone, an affiliate of ESPN, Peoplesoft, C-Cube Systems, and Radiobroadcast.net.
Galaxy-NET's recent alliance with Level 3 Communications will give the company a presence in Level 3 data centers around the world.
According to Ted Wong, CEO of Convergent, "We plan to integrate our video pre-processing technology with Galaxy-NET's existing software to provide enhanced video streaming services, available to anyone that wishes to broadcast over the Internet."
The enhanced video is tentatively scheduled to be demonstrated at the National Association of Broadcasters show in Las Vegas, April 19-21, 1999.
Forward looking statements in this release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights and other risks detailed form time to time in the company's periodic reports filed with the Securities and Exchange Commission. BPN has received compensation for the preparation of this report.
CONTACT:
Buying Power Network, Boca Raton, Fla.
Terry Joyce, 561/361-9277/FAX 561/361-9217
KEYWORD: CALIFORNIA
This is worth some DD. They are raising money through a 504 now and will do a larger offering this fall after getting the new Technology implemented on Galaxy-net.net's Web site.
See Ya!
Ric D. |
