TO ALL:
Based on the DD I have done, here is a brief synopsis of Global Telephone Communication Inc. (GTCI)
I have attempted to arrange the information in a chronological order, as it has been presented by the company. Most of this information has been obtained from the company news releases, and my telephone conversations with IR , which were made in order to clarify issues which I may have been confused by, at the time.
It should not be construed to be investment advice, and is offered as information only, as I understand it. Any questions an investor may have, should be directed to the company itself, for proper clarification. Information headed by an * is information I have received from the company in answer to my questions.
Press Releases:
Apr. 9, 1998:
SAN DIEGO, April 9 /PRNewswire/ -- Global Telephone Communication Inc. (OTC Bulletin Board: GTCI) announced today it has signed a letter of intent to acquire the majority joint venture interest in China Global Information Internet Co. Ltd. from Regent Luck Ltd. China Global is a joint venture with New Newsnet Company, a wholly owned subsidiary of China Telecom, China's largest telecommunications company.
China Global is operating under a license granted to New Newsnet Co. by China Telecom as an Internet Service Provider to provide basic and advanced internet services, Global said. This includes data and voice traffic over the Internet using internet protocol technologies, Global noted. "Beijing officials now agree that economic progress depends on access to the Internet." -- Time Magazine, Asia Edition, January 12, 1998. "China Global will operate in six major urban areas of China with a population of approximately 300 million residents. It is important to note that the license allows China Global to sell Internet related products and services as both reseller and agent," said Terry Wong, Global Telephone
president.
* China Telecom is a government owned entity, and is the largest telecommunication company in China.
NR 4/22/98
SAN DIEGO, Calif., April 22 /PRNewswire/ -- Global Telephone Communication Inc. (Nasdaq: GTCI; OTC) announced today that it has entered into a definitive agreement for the acquisition of a
majority joint venture interest in China Global Information Internet Co. Ltd. from Regent Luck Holdings Limited. China Global is a joint venture with Shenzhen Newsnet Co. Ltd., a wholly owned subsidiary of
China Telecom, China's largest telecommunications company.
China Global is operating under a license granted to Shenzhen Newsnet Co. by China Telecom as an Internet Service Provider to provide basic and advanced Internet services, Global said. This includes data and voice traffic over the Internet using Internet protocol technologies, Global noted.
"China Global will initially operate in the city of Shenzhen, China with a population of approximately 5,000,000 residents. The present fiber optic network in Shenzhen is the most technologically advanced
transmission system available in the world today. It is important to note that the license allows China Global to sell Internet related products and services as both reseller and agent," said Terry Wong, Global Telephone President.
NR 8/12/98
San Diego, California - (August 12, 1998) - Global Telephone Communication Inc. today announced that its wholly-owned subsidiary, Regent Luck Holdings, has received Joint Venture approval from the
State Administration of Industry and Commerce of the People's Republic of China .
Regent Luck Holdings is a majority Joint Venture partner in Shenzhen Global Net Computer Information Co., Ltd. (SCNCIC), formerly China Global. SGNCIC anticipates launching its initial ISP operation in Shenzhen within the next 45 days and expects to generate revenues at the outset from contracts and subscribers already in place.
On July 28th, 1998 China's central government agency approved the Joint Venture and subsequently issued a business license SGNCIC. The Joint Venture approval is valid to the year 2013.
SGNCIC operates under an exclusive agency/licensing agreement with Newsnet (a wholly-owned subsidiary of China Telecom.) to provide basic and advance Internet services in China. The business scope also includes IT systems integration, development and the reselling of IT products.
Shenshen, a city of 5,000,000 residents, is located in southern China. After establishing its operation in Shenzhen, the Joint Venture company, SGNCIC, will be rolling out its ISP operation to include six major urban areas of China with a total population of approximately 300 million residents.
*SGNCIC has set up offices in Shenzhen, and are beginning formal operations right now.
*The exclusive agreement mentioned is with China Telecom.
NR 10/26/98
October 26, 1998, San Diego, California - Terry Wong, President of Global Telephone Communications, Inc. (Bulletin Board: GTCI) announced today that the Company has entered into negotiations to join a Chinese consortium whose mandate will be to implement Global Positioning Satellite (GPS) technology in China. The Joint Venture will have an exclusive agreement with the Government to construct GPS and Trucking Mobile Communication Integrated Systems in Beijing City, then with nationwide coverage over time. Negotiations are expected to come to a successful end during the month of November, 1998.
In a statement, Mr. Wong reflected on Global Telephone's strategic relationship with the Chinese Government through its wholly owned subsidiary's, Regent Luck Holdings, "The trust and relationship
earned by Global Telephone, from the Chinese Government, has enabled us to explore other high technology ventures in China.", Mr. Wong surmised
Global Telephone Communication Inc., is working with China Telecom to bring wide access of the Internet to the Peoples Republic of China. Through its wholly owned subsidiary Regent Luck Holdings, Global Telephone operates under an exclusive agency/licensing agreement with China Telecom's wholly owned subsidiary, Newsnet, to provide basic and advanced Internet services. Also within the agreement is Global Telephone's ability to provide Internet Telephony systems and products. According to statistics recently released by the China National Network Information Center, registered Internet users reached 1.175 million by the end of June, 1998, doubling the number of users over the previous six month period.
*The company is now part of the consortium.
*The exclusive agreement is with the local Government of Beijing City.
*Developments in this area are soon to be announced.
NR 12/1/98
SAN DIEGO, Dec. 1 /PRNewswire/ -- Global Telephone Communication Inc. (OTC Bulletin Board: GTCI) today announced it has entered into an exclusive licensing/marketing agreement to provide its Year 2000 (Y2K) Bug fix solution to Asia through its subsidiary company, Shenzen Global Net.
The company has engaged Viacor Industries to develop its Y2K Bug fix solution specifically tailored to the PC market. "Our Y2K solution is one of the most user friendly on the market today and has a multitude of software versions and features including a clean and simple interface real mode device driver and an uninstall feature," said Global President Terry Wong.
GTCI enjoys relationships with and is negotiating relationships with several Chinese government agencies to supply its Y2K solution. Besides China, the company's exclusive marketing rights also
cover Japan, Korea, Thailand, Vietnam, Cambodia, Myanmar (Burma), Laos, Malaysia, The Phillippines and Indonesia.
The Chinese State Council, or cabinet, has mandated that all government agencies and government-owned enterprises have all systems revised and all millennium bug tests completed by September, 1999. The State Council has ordered 18 government departments and ministries to send monthly reports on their progress toward upgrading systems.
China's metal industry illustrates the extent of potential Y2K problems. The China Metallurgical Industry Bureau reports that 20,000 of the 28,000 computers used in the industry, or 71 percent, are
threatened by Y2K problems. The PC market in China alone totals 10 million computers, all of which must address the millennium bug.
"We should address the problem exactly like this summer's floods," said Austin Hu, deputy chief of China's mission to the World Bank. "We should put in the effort now and not wait for disaster to happen."
Global Telephone Communication Inc., is working with China Telecom to bring wide access of the Internet to the Peoples Republic of China. Through its wholly owned subsidiary Regent Luck Holdings, Global Telephone operates under an exclusive agency/licensing agreement with China Telecom's wholly owned subsidiary, Newsnet, to provide basic and advanced Internet services. Also within the agreement is Global Telephone's ability to provide Internet Telephony systems and
products. According to statistics recently released by the China National Network Information Center, registered Internet users reached 1.175 million by the end of June, 1998, doubling the number of users over the previous six month period.
*The exclusive licensing/marketing agreement referred to is with Viacor Industries, and is for the entire continent of Asia.
*The name of the Viacor/Global Y2K solution is "Global Fix 2000".
*Viacor is not a public company.
NR 1/11/99
Global Telephone Communication Inc. Announces New Teaming Agreement
With Veronex Technologies
SAN DIEGO, Calif., Jan. 11 /PRNewswire/ -- Global Telephone Communication Inc.
(OTC Bulletin Board: GTCI - news) today announced it has entered into a teaming agreement with Veronex Technologies, Inc. (OTC Bulletin Board: VXTK - news) to jointly pursue business opportunities in the People's Republic of China.
The two companies will be involved in a select applications development and applications management outsourcing. Veronex will benefit from Global's established relationships in the People's Republic of China. Global will take advantage of Veronex's innovative I/Nova System for solving the Year 2000 computer problem and improving the time-to-market, quality and cost of applications development and
management.
Veronex has created the I/Nova System, a new technology for applications lifecycle, in essence, through a library of functional modules and a run-time system that enables software developers to save time and improve quality through effective reuse of commonly-utilized functions. This unique technology is platform independent,
self-documenting, and highly efficient. The technology also improves existing applications and can solve the Y2K problem with its automated DataCentric Analyzer.
"Global is continually looking for information technology tools that allow our clients and partners to provide the most rapid and highest quality solutions. We've been impressed with what we've seen from the I/Nova System,'' said Terry Wong, president of Global. ''Global has established itself as an exclusive supplier of Y2K solutions for the PC market in China, and the I/Nova System will broaden our Y2K solutions services to the mainframe computer market.''
About Veronex Technologies, Inc.
Veronex designs, develops, licenses and supports computer software products for complete ''business system'' application development and implementation for enterprise solutions on mainframe computers. The company's I/Nova System is a fully integrated business application development tool for enterprise resource planning and has been ITAA +2000 certified. More information can be obtained about Veronex by visiting its Web Site at veronex.com.
About Global Telephone Communications Inc.
Global Telephone Communication Inc., is working with China Telecom to bring wide access of the Internet to the Peoples Republic of China. Through its wholly owned subsidiary Regent Luck Holdings, Global Telephone operates under an exclusive agency/licensing agreement with China Telecom's wholly owned subsidiary, Newsnet, to provide basic and advanced Internet services. Also within the agreement is Global
Telephone's ability to provide Internet Telephony systems and products. According to statistics recently released by the China National Network Information Center, registered Internet users reached 1.175 million by the end of June, 1998, doubling the number of users over the previous six month period. More information can be obtained
about Global by visiting its Web Site at globaltci.com.
*Global has an existing team of technicians, who are now in China. They will be trained on the Veronex system, and perform any duties necessary, in connection with the product.
*This JV agreement will allow Global to address the Y2K needs of the commercial applications.
Good luck to all, and may all your investments be on a uptick.
Blessed
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