Acquisition of European Based Teleforce.LOS ANGELES--(BUSINESS WIRE)--Feb. 22, 1999--Unisat, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:USCI USCI United States Colored Infantry USCI University College Sedaya International USCI United States Computers, Incorporated ) announces continuation of its planned penetration into Europe with the acquisition of Teleforce Communications Ltd. (Telforce) with an exchange of shares all of Teleforce's issued and outstanding shares in exchange for 600,000 restricted shares of Unisat, Inc. Presently, Telforce is a supplier of telephony to Affinity Groups and Closed User Groups, such as British Military based personnel overseas and in the UK. This brings to Unisat a unique and rapidly growing telecommunications resale company. Telforce is producing revenues in excess of six million US dollars on a annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis and has continued to grow the company in revenues by over 30% per annum Per annum Yearly. . Teleforce has targeted annual revenues in excess of $10 million US dollars in 1999. Telforce already has a significant customer base in Germany, Cyprus and Brunei and the acquisition by Unisat allows management to project rapid growth in Marketing activities, as well as expansion into new markets such as United Nations forces personnel and UK based personnel. Telforce has a UK Telecommunications Licence and indirect access code and will be moving in into the corporate market place in the UK. The company has already recruited leading specialists in this market from established public carriers to facilitate this substantial step forward. Chris Clark Chris Clark may refer to:
Chris Clark has joined the Board of Directors of Unisat, replacing Richard Elliot-Square and brings his wealth of experience in the European based affinity markets and the potential to develop new markets for Unisat. Statements regarding financial matters in this press release other than historical facts are "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. " within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in 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. The company and its directors intends that such statements about the company's future expectations, regarding future revenues and earnings, and all other forward-looking statements be subject to the safe harbors 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. created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change any time, the company's actual results may differ materially from expected results. |
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