ATCT's Asian Operation, 7123000.com, Signs MOU to Acquire Majority of Star Point Networks.HOUSTON -- Affordable Telecommunications Technology Corp. (Pink Sheets:ATCT ATCT Airport Traffic Control Tower (FAA) ATCT Air Traffic Control Tower ATCT Air Traffic Control Transponder ATCT Analog Toll Connecting Trunk ) (www.atct.us) announced today that 7123000 (www.7123000.com), its sales and distribution operation in Asia, has signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. to acquire a group that includes Star Point Networks. About Star Point Networks Star Point was formed through the acquisition of Corbin Networks and M S Benbow & Associates which have over 20 years of telecom operating experience. Star Point Networks provides service over a network that includes over 1,000 microwave towers, fiber optic backbone routes, national Points of Presence (POP's), and an IP gateway switch. In partnership with AirTegrity, Star Point provides WiMax capability. Additional details can be found at http://www.7123000.com/download.htm ATCT ATCT provides a broad range of telecom services to the prepaid and postpaid post·paid adj. With the postage having been paid in advance. postpaid Adverb, adj with the postage prepaid Adj. 1. market. It is developing a robust sales and distribution network in rapidly growing Asian markets through its subsidiary, 7123000.COM, and in partnership with US Telesis and Teledata Solutions Inc. Steve Bethke, President of ATCT, said, "We are excited about the capabilities and reach of Star Point, and expect to conclude an agreement after a 30-day 'due diligence' period." Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Statements contained in this release, which are not historical facts, may be considered "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. |
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