AMG Announces Deal With Adcom, Inc.Business Editors ATLANTA--(BUSINESS WIRE)--April 11, 2000 Elite Technologies, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ETCH To create a design in a material by digging out the material. The circuit designs on printed circuit boards and chips are etched by acid. See chip and printed circuit board. ) announced today its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , AMG AMG All Music Guide (music website) AMG All Media Guide (group of media websites) AMG All Movie Guide (Movie website) AMG Arzneimittelgesetz (German Law) , Ltd., has signed a letter of intent with Adcom, Inc., for the purchase of 20,000 licenses of the AMG's kiosk software Kiosk software is the system and user interface software designed for a kiosk or Internet kiosk. Kiosk software locks down the application in order to protect the kiosk from users. Kiosk software may offer remote monitoring to manage multiple kiosks from another location. . Three hundred of the units will be deployed in the Atlanta, Georgia area, and the remaining units will be deployed over a 5 year period through Adcom's national program. This deal expects to net over $4,000,000 in profit for AMG during the rollout. Randy Ragsdale, President of AMG, Ltd., stated, "AMG is not only interested in sales of the physical kiosk units, but wishes to expand the software license marketplace by allowing the purchase of licenses to interested company's who wish to use the proprietary format of AMG's unique software. Adcom is the first of its kind, offering an outdoor, weather resistant unit. AMG is proud to provide the technology to assist Adcom in driving their product to the open marketplace." Final negotiation of the definitive agreement is in process. AMG expects to close the deal within thirty days. Elite Technologies provides internet services through Elitetech.Com, which provides web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. , web development, and e-commerce services on the internet. Elite's other two divisions, Elite Integration and Workstream Staffing provide custom software development, integration and implementation, and technical staffing augmentation AUGMENTATION, old English law. The name of a court erected by Henry VIII., which was invested with the power of determining suits and controversies relating to monasteries and abbey lands. services. Elite Technologies is also an integration and reseller of Eastman Software and a premier partner with Hewlett Packard. Products through Eastman include document imaging, workflow and COLD (Computer Output to Laser Disc Computer Output to Laser Disc - Enterprise Report Management ). Notice: This release and oral statements made from time to time by company representatives concerning the same subject matter may contain so-called "forward-looking statements." These statements can be identified as "forecasts," "projects," or words of similar meaning and by the fact that the statements frequently are used in discussing regulatory submissions and approvals, development programs, etc. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance upon those statements. |
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