What do you think of this one. IHTL
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NEWS:
February 19, 1999 08:00
Next Generation of Internet Messaging Software Being Developed by Innovative Holdings/Interface Group, Inc. Partnership
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WINTER PARK, Fla.--(BUSINESS WIRE)--Feb. 19, 1999--Innovative Holdings & Technologies, Inc. (OTC BB:IHTL), has entered into a strategic internet software development partnership with the Interface Group, Inc. of Palm Harbor, Florida.
The Interface Group Inc., a developer of next generation internet messaging software, will launch their revolutionary technology on IHTL's new Global Sports Network (GSN). These technologies merge audio, video, mechanical and physiological data captured at live sporting events and provided by GSN's subsidiary, Xtreme Telemetry Systems. Global Sports Network, "the total internet sports experience," will be able to use these new technologies to provide virtual, real time, participation for internet users with sporting events, user-friendly on-line games, e-commerce and face-to-face audio and video chat rooms.
"In partnership with Innovative Holdings, the Interface Group will be developing the next generation of internet chat and messaging," says David Abad, Interface Group's Chairman and CEO. "This new internet community software will offer specialized broadcast of individual messages, translation services and video, and will be a superior alternative to the America Online (NYSE:AOL) and Mirabilis ICQ chat and message platforms."
Mirabilis ICQ was recently purchased by America Online for $287 million in cash. AOL will also make contingent payments of up to $120 million in cash over the next three years based on performance levels.
Helmut Wyzisk, President and CEO of Innovative Holdings & Technologies said that, "Interface Group's new communications technology will bring personal internet communications to an exciting new level. The Global Sports Network's mission is to deliver revolutionary new, real time, interactive sports programming, shopping and games. The addition of Interface Group's new technology will offer an exciting new dimension to GSN's internet sports experience."
The Global Sports Network is actively seeking strategic partnerships with one of the major search engines including Yahoo (Nasdaq:YHOO), Infoseek (Nasdaq:SEEK), Lycos (Nasdaq:LCOS) and Excite (Nasdaq:XCIT) to provide their unique sports content to the internet community.
The Interface Group, Inc. is developing a unique, new user-friendly software application that provides internet users access to face-to-face video and audio conferencing, messaging, translation services and other revolutionary new internet services.
Innovative Holdings & Technologies, Inc. identifies, acquires and incubates early stage niche technology companies with outstanding growth potential. The Company has also entered into a strategic alliance with iChargeit.Com (OTC BB:PLNKD) to present virtual games and sports product marketing on this e-commerce internet site. Through its Xtreme Telemetry Systems, Inc. subsidiary, IHTL is aggressively developing strategic alliances and joint ventures with key corporate players and broadcast networks like ESPN/ABC (NYSE:DIS), Fox (NYSE:FOX) and Turner Broadcasting (NYSE:TWX). IHTL is also developing a Sports Training Division with applications including Thoroughbred Horse Racing, Olympic Training, X-Sports, Boxing, Golf, Skiing, Tennis, Motorsports and many other action sports venues.
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.
CONTACT: Innovative Holdings & Technologies, Inc., Winter Park
Scott Flynn, Investor Relations
888-338-3367
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