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Microcap & Penny Stocks : Greenland Corp. (GLCP) -- Ignore unavailable to you. Want to Upgrade?

To: JustMy2Cents who wrote (2134)	4/6/1999 11:47:00 AM
From: Renamed	Read Replies (1) \| Respond to of 2278

*********NEWS 4/6/99**************** Subj: Greenland Corp News Date: 4/6/99 11:36:34 AM Eastern Daylight Time From: check@checkcentral.com (Check Central Admin) LAKE FOREST, Calif.--(BUSINESS WIRE)--April 6, 1999--Telenetics Corp. (OTC BB:TLNT) Tuesday announced that it has acquired the AirLink(TM) wireless technology from Greenland Corp. (OTC:GLCP - news) for an undisclosed sum. AirLink(TM), a patent pending technology, was developed by Greenland as a wireless data gathering system for the utility industry. In announcing the acquisition, Michael Armani, chief executive officer and president of Telenetics stated that: ''The AirLink(TM) system was developed primarily as an inexpensive wireless solution for use in residential meter reading. We believe, however, that this technology, once enhanced, will also complement our OMEGA(TM) AMR system in industrial and commercial meter reading and substation automation projects. The AirLink(TM) system adds a new Radio Frequency solution to our current offerings of cell phone and land line technologies.'' The AirLink(TM) system enables utility companies to read meters and transmit the data to a central computer for use in customer billing and load/resource management. It combines digital hardware, radio transmission circuitry, and software that, when attached to a standard electric, gas, water or other traditional utility meter, will read and store data and transmit it back to a small computer for use by the utility company. Additionally, the AirLink(TM) system will enable utilities to monitor resource usage by consumers and to institute differential billing based upon use of the resource and the time of use and report a potential problem within seconds of such an event. Greenland has entered into contracts with three utilities for pilot systems. The acquisition of the AirLink(TM) technology by Telenetics includes all related assets, hardware designs, software codes, pending patents, trademarks and contracts. OMEGA(TM) stores the serial number or address of the meter and in the event of a power outage or device malfunctions, reports the site to a central host. OMEGA(TM) is capable of receiving or initiating communications and transmitting data as frequently as required by the host application. Since its introduction in August 1998, Telenetics has shipped several thousand OMEGA(TM) units valued at approximately $5 million. Telenetics is a leader in the design and manufacture of proprietary data-communications solutions for utility and industrial automation applications. Telenetics offers a broad range of industrial grade dial-up and leased-line modems, cellular modems, fiber optic line drivers and wireless automated meter reading products. For additional information visit www.telenetics.com. Forward-Looking Statement Disclosure: Certain of the statements contained in this news release are ''forward-looking statements'' that involve risks and uncertainties. Actual future results could differ materially from these statements. Factors that could cause or contribute to such differences include but are not limited to those discussed in the company's Form 10-KSB for the year ended March 31, 1998 and Form 10-QSB for the quarter ended Sept. 30, 1998. Web site: greenlandcorp.com or checkcentral.com