SI BOB will not be made about posting Eugene Curcios information. IT all came from CYOE's own press release. Addresses, phone numbers and E-mail for Curcio and Crescant Communications. I called, still just a recording. BAHAHAHAHA.
"Gene Curcio, president, Crescent Communications, has been in the telecom business for 17 years. Crescent Communications is a privately held company, incorporated in Nevada with a mailing address at One World Trade Center, Long Beach, CA, 90832-32272. Mr. Curcio's answering service can be reached at 310-543-3859; his fax number is 310-544-1387. Mr. Curcio would prefer to receive e-mail inquiries @ curcio1@gte.net."
NEWS RELEASE
Contact: Tony Squeglia
Coyote Network Systems
(818) 735-5385
E-mail: A.Squeglia@cyoe.com
Coyote Network Systems Issues Additional Statement
Westlake Village, CA – December 10, 1998 – While Mr. Kevin Petrie of TheStreet.Com (TSC) may appear to be a dispassionate observer researching and reporting facts useful to investors, nothing could be further from the truth. Coyote Network Systems, Inc. (Nasdaq: CYOE) today issued the following additional information:
As reported earlier, Comdisco, one of the world's leading providers of lease financing, provided the lease financing for the initial portion of the equipment contract for Crescent. Title for the equipment was passed to Comdisco, who paid Coyote prior to the equipment being shipped. Comdisco paid Coyote $12 million for the communications equipment shipped in the initial order, which included three of Coyote's DSS Switches and compression equipment manufactured by Newbridge Networks. The total equipment order is $28 million. In addition, $9 million is to be paid over a three-year period by Crescent to Coyote for services, which include network design, diagnostic engineering, maintenance, billing, and network operations and support. No date has yet been established for the next phase of equipment, and, consequently, no financing for that phase is in place.
Crescent Communications is an emerging international carrier that fits Coyote's strategy to make investment in and/or partner with carriers that are strategically aligned with Coyote's goal to enable and deliver voice, data and video solutions. Coyote provides the switching technology, and back room, operations, service and support. Crescent provides the sales and marketing and has letters of intent for more than 30 million minutes of international traffic.
Gene Curcio, president, Crescent Communications, has been in the telecom business for 17 years. Crescent Communications is a privately held company, incorporated in Nevada with a mailing address at One World Trade Center, Long Beach, CA, 90832-32272. Mr. Curcio's answering service can be reached at 310-543-3859; his fax number is 310-544-1387. Mr. Curcio would prefer to receive e-mail inquiries @ curcio1@gte.net.
Title for the communications equipment for Crescent was passed to Comdisco and the equipment was paid for prior to shipping to San Antonio, TX, for staging, i.e., integration of switching equipment and compression equipment. The communications equipment is currently enroute to a telecom co-location site in Plano, TX, for installation, which will begin on December 15 and is expected to be completed in January. Some of the Newbridge Networks equipment will be installed in Mexico in January.
"Crescent is young, aggressive, marketing-oriented and entrepreneurial," said Daniel W. Latham, president and chief operating officer, Coyote Network Systems. "They gain contracts, letters of intent or commitments for long distance minutes because they have the business acumen and contacts to make the sale, however, companies like Crescent may need assistance with financing and the technical aspects of turning-up and maintaining a network. This is the expertise Coyote provides-right out of our strategic plan. Crescent is currently a switchless reseller migrating to switch-based status."
"In today's market, long distance resellers who simply lease lines are experiencing a major squeeze between competitive end-user rates and line lease costs. Establishing their own network enables them to significantly increase their margins. But day-to-day, backroom operations are rarely their forte," stated Latham.
"When these stories broke, Gene Curcio and I spent time on the phone to get this situation straightened out. Mr. Curcio said that he has answered a number of calls from investors and can't understand why he is so hard to find by TheStreet.Com, however, Mr. Curcio indicated that he spoke with TSC this morning," Latham concluded.
About Coyote Network Systems
Headquartered in Westlake Village, CA, Coyote Network Systems (CNS) provides telecom equipment and network services that enable and deliver local, long distance and Internet services. Coyote Technologies provides scalable Class 4/5 telecom switches and IP (Internet Protocol) gateway systems. Headquartered in Houston, TX, American Gateway Telecommunications provides international long distance services to carriers. Headquartered in Los Angeles, CA, Interactive Network Systems markets international long distance services to affinity groups. CNS is authorized to provide competitive local exchange carrier (CLEC) services in California. For more information, please visit the Company's Web site: cyoe.com, or call 1-818-735-5385.
The statements in this news release may be considered "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance suggested in this news release. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. For more complete information, please refer to the Company's Form 10-K and Form 10-Q filings with the SEC.
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