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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (55023)	4/24/2000 1:31:00 PM
From: StockDung	Respond to of 122087

HERE IS A SURPRISE! USATalks Announces Delay in Filing its 1999 SEC Form 10KSB 4/17/0 23:9 (New York) SAN DIEGO, April 17 /PRNewswire/ -- USATalks.com, Inc. (OTC: USAT) announced today that it will be late in filing its 1999 SEC Form 10KSB, as the Company awaits completion of the audit for its fiscal year ended December 31, 1999. Commencement of the audit was pushed back due to financial and personnel constraints, and changes in management. Additionally, the transition to a new mode of service delivery late in the year, and the treatment of corporate acquisitions during the year, raised certain accounting issues which are still being resolved. Management currently believes these issues will be resolved, and that the audit will be completed, within the next two weeks, so as to enable the Company to file the delinquent Form 10KSB by May 1, 2000. Based on the preliminary unaudited operating results for 1999, and assumptions concerning the resolution of pending accounting issues, management anticipates that losses for the past fiscal year will be between $23 to $25 million. Patrick J. Mulvey, appointed as CEO on March 1, 2000 stated, "Large losses are often incurred by companies pioneering in new Internet technologies, and USATalks was no exception. Fortunately, 1999 is behind us now. I believe that, with our dedicated management team and innovative approaches in deploying technology and targeting opportune market segments, we should be able to redirect our financial position and add value for our shareholders, if we receive the necessary financial support. The market for Internet Telephony is still in its infancy and the technology is becoming more reliable daily. Our experience during the past year will assist in our efforts to establish a leadership position in this exploding market in the coming year." Headquartered in San Diego, USATalks offers its customers unlimited long distance telephone service for a fixed monthly fee. USATalks offers an "all-you-can-talk," telephone-to-telephone long distance service using Internet Protocol (IP) with a variety of service plans from $29.95 to $124.95 per month. USATalks' service is designed to meet the long distance needs of both residential and business customers. The Company expects that commercial products for regional and national accounts will be offered in the future. This press release contains forward-looking statements relating to future operating information and accounting outcomes and their impact on results. Actual results could differ materially from those projected in forward looking statements as a result of risk factors such as financial support, the accounting treatment of events, market conditions, product life cycles, customer delays in purchasing products, technology shifts, potential difficulties in introducing new products, competition, price sensitivity and the uncertain market acceptance of the Company's product by distributors, resellers and customers. SOURCE USATalks.com, Inc. -0- 04/17/2000 /CONTACT: USATalks.com, Inc. 858-638-9485/ /Web site: usatalks.com (USAT) CO: USATalks.com, Inc. ST: California IN: TLS SU: -0- Apr/17/2000 22:54 EOS (PRN) Apr/17/2000 22:54 85 -0- (PRN) Apr/17/2000 23:09