Thursday June 3, 3:41 pm Eastern Time
Company Press Release
Satellite Control Technologies Announced That Merritt Jesson has
Been Appointed to the Board of Directors and Will Serve as Chairman
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--June 3, 1999--Satellite Control Technologies (OTC BB:SATX - news) Thursday announced that Merritt Jesson has been appointed to the board of directors and will serve as chairman.
He joins Khoren Shaganian and Dennis Katangian who have previously been appointed to the board of directors.
The directors announced that Jesson has been appointed the chief executive officer of the company effective immediately. Jesson has been in the telecommunications industry for eight years and was the
president and founder of DebitFone International and owns proprietary technology in the pre-paid cellular industry. Jesson was also one of the pioneers of the pre-paid calling card and served as executive vice president for Intellicall, a New York Stock Exchange company.
Gary McHenry has been appointed vice president of sales and marketing. McHenry has been in the wireless industry for 10 years and was senior vice president of Bright Technologies, a $26 million wireless phone company.
The company, with the financial support of its two major shareholders, has begun the process of reactivating itself in recent months.
Satellite Control Technologies currently holds both the ''ONE WAY'' and the ''TWO WAY'' paging patents that activates the GPS Tracking System.
The new ''Alpha Track'' System also notifies the monitoring center the minute a vehicle is broken into or electrical wires are cut and is capable of tracking vehicles, containers, and boxcars nationwide
through a monitoring center, as well as, by the owner of the vehicle or container through the Internet, 24 hours a day.
With the ''Alpha Track'' System, the company can provide companies with their own monitoring center, thus allowing them to track their own containers, boxcars, etc., notifying them of any breach
of security.
To that end, the company has signed a letter of intent to acquire Jesson's company, DebitFone International, in exchange for shares of Satellite Control Technologies.
DebitFone International is a pre-paid cellular company that has proprietary software for addition of time to its debit phone. The ''INTELLIGENT'' phone displays to the caller in real time how much
calling time is available to the caller without a land-based switching device. The customer can make long distance calls, international calls, as well as calls from anywhere in the country.
For the first time, cell phones will be available to purchase through vending machines, completely activated, battery charged with 30 minutes of talk time right out of the box. A pre-paid cell phone
can now be distributed in all markets anywhere in the country.
At this time, the company has no earnings or revenues, but anticipates revenues of $10 million through the end of 1999, based on projected sales of the DebitFone and Alpha Track GPS products.
Contact:
Satellite Control Technologies Inc., Newport Beach
800/989-SATX |
