NEWS!!!!!!!!!!!!!!!!!!!!
Wednesday February 24, 8:02 am Eastern Time
Company Press Release
Worldwide Internet Data Transmission System Being Developed For Global Sports Network
WINTER PARK, Fla.--(BUSINESS WIRE)--Feb. 24, 1999--Innovative Holdings & Technologies, Inc.'s (IHTL: OTC/BB) Global Sports Network, Inc. subsidiary announces the creation of a worldwide internet transmission system that will allow the Global Sports Network (GSN) to deliver audio, video, mechanical and physiological data on a true, real time basis. Called ''telemetry'', this data is an intimate look at an athlete's physical performance and key data on equipment performance generated during live sports events via Innovative's Xtreme Telemetry Systems, Inc. subsidiary.
This global internet data system is being developed and launched through a partnership between Innovative Holdings' Global Sports Network, Inc. subsidiary and Interface Group, Inc., a Palm Harbor, Florida-based technology development company. Partnerships are currently being negotiated with major bandwidth providers like MCI/UUNET (NASDAQ: WCOM - news), Nortel (NYSE: NT - news) and Pacific Bell (NYSE: SBC - news) to provide prime nodal points on the internet.
''By creating a global network of servers, we will enable GSN to deliver real time telemetry data from the sports venue directly to the internet sports fan,'' said David Abad, Interface Group's Chairman & CEO. ''It was necessary to develop a custom network solution in order to deliver this dynamic, new sports information technology to the internet as it happens.''
According to Helmut Wyzisk, President & CEO of Innovative Holdings & Technologies, Inc., ''The Global Sports Network will be providing the internet audience with 'the total internet sports experience,' which includes new technologies to provide virtual, real time, participation with sporting events as they happen, plus user-friendly on-line games, e-commerce and face-to-face audio and video chat rooms. Our users won't wait for the data, that's why we are developing this state-of-the-art information delivery system for sports enthusiasts worldwide.''
In addition to helping to build the Global Sports Network, the Interface Group, Inc., in partnership with Innovative Holdings & Technologies, 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. Similar in concept to Mirabilis ICQ (NYSE: AOL - news), this new internet messaging system will offer superior advantages including video, audio and other messaging capabilities.
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 - news) 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 - news), Fox (NYSE: FOX - news) and Turner Broadcasting (NYSE: TWX - news). 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.
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Contact:
Innovative Holdings & Technologies, Inc.
Scott Flynn, Investor Relations: 888-338-3367
This company is looking more for REAL all the time. Another step forward.
Chapin, Financials are supposed to me released in 60 days.
Happy investing,
Uptickin |
