NEWS OUT: IHTL: $50 Million contract; MM's look like they are going to let it run with continued volume. I have been promoting the potential here for a long time. It is starting to all come together. This is very very good news.
(COMTEX) B: Innovative Subsidiary Enters Into $51 Million Deal to Pro
B: Innovative Subsidiary Enters Into $51 Million Deal to Provide TV and
Internet Sports Data Technology to Pacific Rim Countries
ORLANDO, Fla., Jul 14, 1999 (BUSINESS WIRE via COMTEX) --
InnovativeHoldings & Technologies, Inc.'s (OTC BB:IHTL) Xtreme
Telemetry Systems, Inc. subsidiary has entered into an exclusive
licensing agreement with Media Technology Group (MTG), headquartered in
Tokyo, Japan, to provide specialized TV and Internet broadcast sports
data technology to audiences in Pacific Rim countries including Japan,
Taiwan, Singapore, Australia, New Zealand, Malaysia, South Korea and
the Philippines. Combined TV and Internet revenues are estimated to
exceed $51 million annually.
MTG is headed by Junichi Yaoi, one of Japan's most renowned TV
executives who spent 26 years with the Nippon TV Network (NTV), one of
that country's largest, before founding his own production company. He
has produced and directed some of Japan's most successful TV
programming including 11PM and Thursday Special, a reality-based
program which achieved an unparalleled 20-plus percent audience share.
"We are pleased to introduce Extreme Telemetry to TV and Internet
broadcast viewers throughout the Pacific Rim," said Junichi Yaoi, Media
Technology Group's President & CEO. "Much like in the United States, TV
and Internet sports broadcasters in this part of the world are looking
for new and innovative ways to enhance their broadcasts to attract
bigger audiences and increase revenues. Extreme's X/T system provides a
new level of interest and excitement that I believe will revolutionize
the way we look at sports."
Xtreme Telemetry Systems' new X/T broadcast sports information systems
provide critical "real time" telemetry data on an athlete's physical
performance (heart rate, body temperature, respiration, stress levels,
and more), equipment or vehicle performance, plus important
environmental data displayed on-screen for audiences on network
television, cable, and the Internet. The viewer is able to see an
incredible stream of information that truly makes the event come alive,
and provides a unique on-screen "billboard" that can be used to feature
promotional messages and sponsor's logos.
"Our agreement with Media Technology Group is a continuation of
Innovative Holdings' effort to create strategic alliances and
partnerships designed to deliver our Xtreme Telemetry technology to
sports venues on a global scale, and provide exclusive programming for
our new global Internet sports network called Sports Entertainment
Network One.Com... sen1.com," said Helmut Wyzisk, Chairman and
President of Innovative Holdings & Technologies, Inc.
Innovative Holdings & Technologies, Inc. identifies, acquires and
incubates early stage niche technology companies with outstanding
growth potential. The Company is also creating a worldwide Internet
sports network, sen1.com, which is billed as "the total Internet sports
experience," providing 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. Valu-net Corporation of
Toronto, Canada, is working with IHTL to develop and market this new
virtual, real-time sports network on the World Wide Web.
IHTL's Xtreme Telemetry Systems, Inc. subsidiary offers TV and Internet
broadcast viewers real-time data on an athlete's physical condition,
equipment performance, and relevant environmental information, which
will be broadcast on the new Internet sports network.
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.
For information contact: Phil Flynn, Investor Relations: 800-392-7961,
www.innovativeholdings.com |
