Its just one of the many things to come on CYOE. Many of the companies that they did deals with were to buy more switches in the future. Apollo was a $20,000,000 deal. A 19% asset on CYOE's books. Wonder if they are paying that lease payment to Comdico? Time for CYOE to fess up on Crescant Communications a $35,000,000 deal and Dakota LLC a $30,000,000 deal and put an end to this fraud. As Manual Asencio once said " These people have been failures all their lives, they have never succeeded at anything except defrauding the public" You have to ask yourself on question. Would you buy CYOE stock? The end is near and the many decent law-abiding citizens on this thread must keep the pressure on this EVIL of society.
Coyote Technologies Inks $20 Million OEM Pact With Apollo KK
Westlake Village, CA, February 17,1998 -- Coyote Technologies, a subsidiary of Coyote Network Systems, Inc. (OTCBB: CYOE), today announced it has signed a three year, $20 million OEM agreement for DSS switches with Tokyo-based Apollo KK, a company with a focus on telecommunications infrastructures as well as real estate.
Under terms of the agreement, Apollo KK has exclusive rights to distribute Coyote Technologies DSS switches in Japan and agrees to an annual minimum commitment of $4 million, $6 million, and $10 million respectively for the three years. Apollo KK will place firm purchase orders at the beginning of each year for not less than 25% of the total annual commitment. Apollo KK also has non-exclusive rights to resell DSS switches in other parts of the world. Apollo Telecom, a U.S.-based subsidiary of Apollo KK, and Coyote Technologies will provide installation and support services. Comdisco, Inc. has agreed to provide lease financing to Apollo for part of the initial commitment.
"We are pleased to be furthering our relationship with Apollo," said Daniel W. Latham, president and chief operating officer, Coyote Technologies. "The privatization and deregulation of telecom services around the world presents an excellent opportunity for our products and services. We believe that emerging and traditional telecom service providers require scalable and cost effective solutions to differentiate themselves and to expand into new markets by offering new revenue-generating services. Our goal is to provide total voice, data, and video solutions. Our relationship with Apollo will help us achieve that goal."
"We chose to partner with Coyote because they offer excellent technology and bring a good understanding and solutions-oriented approach to our markets," said Hideo Goto, chairman and chief executive officer, Apollo KK. "Coyote's DSS switch will provide an excellent switching solution in Japan and other parts of the world."
In October 1997, Coyote announced that Apollo Telecom selected its DSS switches to be deployed in Apollo's international backbone network. Apollo Telecom is building a network to provide its business and residential customers with voice, data, video and Internet access services, both domestically and internationally. The first DSS switch is installed in Phoenix. DSS switches are scheduled to be installed in Tokyo, Seattle, and Osaka and will be deployed in tandem and international gateway applications.
About DSS Switches
Coyote's DSS switches are designed for central office, tandem, international gateway, value-added services, and Internet access solutions that enable telecom and Internet service providers to enter new markets and generate new revenues. Flexible, scalable and open architected, DSS switches scale from 100 to 10,000 lines and operate as stand-alone switches or in conjunction with products provided through Coyote's Select Partner Program, including ATM and SONET technologies. Coyote's Switch Server Architecture offers a "client/server" approach to its vision of the "central office of the future" with access to voice, data, and video services.
About Apollo KK and Apollo Telecom
Apollo KK, headquartered in Tokyo, Japan, is a company with a focus on telecommunications infrastructures as well as real estate. Apollo Telecom, a U.S.-based subsidiary of Apollo KK, is a full service Interexchange Carrier offering inwats 800/888 debit and travel card, customized billing, flexible dialing plan, automatic number identification, user selectable project and authorization codes, private and public speed dialing, international call back, ATM, ISDN, Internet access, feature group A,B,C,D and Signaling System 7. For more information on Apollo Telecom, please call (801) 530-0505 or visit the company's Web site at apollotelecom.com.
About Coyote Technologies
Headquartered in Westlake Village, CA, Coyote Technologies provides "edge of the network" switching solutions that enable telecom carriers and Internet service providers to enter new markets with revenue-generating services. Coyote's DSS switches are flexible, scalable, and have a low cost of ownership. DSS switches can be used as Class 4 tandem switches, typically used to connect switches in long distance networks; as Class 5 end office switches to connect subscribers to the public network; as international gateways to connect international calls, and to provide value-added services, such as debit and credit card. DSS switches also enables Internet service providers to offer local and long distance services in addition to Internet access from the same switching platform. For more information about Coyote Technologies, please call 1-888-88Coyote or visit our Web site at coyotetechnologies.com.
The statements in this news release may be considered "forward looking statements" within the meaning of the Private Securities Litigation Reform Act 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. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For more information, please refer to the Company's filings with the Securities and Exchange Commission.
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