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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Fortune who wrote (44535)	12/14/1999 11:18:00 AM
From: HandsOn	Read Replies (2) \| Respond to of 108040

TIVO is going the wrong way since Friday.

To: Mr. Fortune who wrote (44535)	12/14/1999 11:23:00 AM
From: vagabond	Read Replies (1) \| Respond to of 108040

Interesting ADVC news, surprised it hasn't moved the stock more yet this morning (maybe it was expected?)... ======================== Tuesday December 14, 9:38 am Eastern Time Company Press Release Advanced Communications Technologies, Inc. - NASDAQ Company Merger - New Funding $40 Million NEW YORK--(BUSINESS WIRE)--Dec. 14, 1999--The Board of Directors of Advanced Communications Technologies, Inc. (``ACT') (OTC BB -``ADVC') announced today that they had approved the proposed merger of ACT with a NASDAQ ``small cap' listed company, at a Board of Directors meeting held on the 13th December, 1999. Representatives of both companies recently signed a Letter of Intent. Under the terms and conditions of the LOI, the current shareholders of ACT will retain a ninety percent (90%) ownership of the remaining NASDAQ listed company. The proposed merger is subject to the completion of a formal contract, and the approval of an ``S4' filing by the SEC, which is expected to be completed within 60-90 days. It is proposed that ACT will be the remaining NASDAQ listed company, and that the stock symbol ``ADVC' will be retained on the NASDAQ small cap board. The LOI calls for the shares of all existing shareholders to be exchanged on a one for one basis, once SEC approval of the merger has been received. Full details of the proposed merger will be released upon the completion of the formal contract between both companies, which is expected to be finalized within the next ten days. New Funding Agreement - $40 million In conjunction with the proposed merger with the NASDAQ listed company, ACT has entered into an equity funding agreement with a Newport Beach, California based merchant banking firm, to raise an additional $40 million working capital. The new funding will assist with the provision of up to $6 million dollars of additional working capital required to fund the acquisitions, that are currently in process, and that were previously announced by Advanced Global Communications, Inc. (AGC) on the 30th November, 1999. AGC is the wholly owned communications networking subsidiary of ACT. Full details about the acquisitions will be provided upon completion of the formal contracts between all of the parties. As previously announced, the company believes that annualized revenues at the end of the year 2000 will achieve a monthly run rate of $100 million dollars per annum. ACT - Total Solution Wireless Network Provider The company's main initiative is still the implementation and sale of Act's proprietary technologies (SpectruCell, SEM, WLL), currently under development in Australia. The combination of these technologies will provide ACT with the ability to become a total solution wireless network, capable of terminating voice and data calls to both mobile telephone networks, and fixed network home/office phones. The SpectruCell Wireless Multiple Protocol network will essentially be ``future proof' as it will be software upgradeable, have open architecture, and most importantly, be able to carry all current and evolving protocols (CDMA, GSM, W-CDMA, 3G, etc.) over the same network. It will also allow for ``spread distribution' network operation, eliminating the majority of the centralized switching bottlenecks currently being experienced by carriers. SpectruCell, the SEM link, and the WLL, will all be proprietary technologies owned by the company and its affiliates. ACT is well placed to be a major wireless communications provider, with proprietary wireless network facilities that can be rapidly deployed in both traditional western markets, as well as in the evolving third world regions. More information about the operations and activities of ACT is available at, www.adcomtech.net.