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ICTN.PK Innovative Communication Technology Inc ------------------------------------------------- Yes, it's a pink sheet stock, and it's been selling off lately. But, this stock looks like it has some potential. Their business is coming together nicely. Could be back up to above 10 cents in no time. ict.net ------------------------------------------------- Innovative Communications Technologies, Inc. and Time Warner Telecom Sign Agreement Tuesday February 17, 9:01 am ET SEATTLE--(BUSINESS WIRE)--Feb. 17, 2004--Time Warner Telecom (Nasdaq:TWTC - News) and Innovative Communications Technologies, Inc., (OTC:ICTN - News) signed a fiber-optic delivery and referral agreement that offers both companies the ability to achieve enhanced competitive advantages. Time Warner Telecom (TWTC) currently delivers local services to Innovative Communications Technologies (ICT) in Seattle and Portland over its regional fiber networks and has plans to deliver services to ICT facilities in San Diego and Tucson over the next two years. As the companies continue to work together, other opportunities exist for ICT to deliver similar infrastructure in all 44 markets where Time Warner Telecom currently operates. Time Warner Telecom's national footprint provides ICT with the ability to utilize TWTC's metro city fiber, and 800 Gbps regional fiber networks as an integral component of its self-contained GPTN. TWTC and ICT plan to leverage each other's strengths in executing the agreement to capture previously unavailable and extremely competitive segments of business. "Time Warner Telecom is in the position to take advantage of technologies and trends in the industry. They are particularly capable and experienced with integrating flexible services with non-traditional applications such as ICT's," said Barry Henthorn, CEO of ICT. "There's a lot of synergy between Time Warner Telecom and ICT," said Joseph Wells, vice president and general manager for Time Warner Telecom's Seattle operations. "We'll be able to scale capacity to meet the needs of ICT's technology far faster than competitors, while providing them a footprint to help penetrate new markets." About the Company Since 1989, Innovative has been a pioneer in the development and positioning of private telecommunications networks for businesses. Innovative's proprietary technology and alliances with industry leaders now place the company at the forefront of the telecommunications industry. The GPTN technology combines proprietary leading-edge packet switching technology and dedicated fiber-optic networks with Innovative's Voice Over Packetization Technology (VOPT). VOPT uses packet switching instead of traditional circuit switching when routing calls. Customers use their existing equipment and pay only a fixed monthly rate, eliminating per-minute billing and the long-distance carrier. For more information visit the company's website at ict.net | ||||||||||||||
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