Advanced Communications Technologies, Inc. - International Carrier License - Central America.Business Editors NEW YORK--(BUSINESS WIRE)--May 18, 2000 The Chief Executive Officer of Advanced Communications Technologies, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB - "ADVC ADVC Analog to Digital Video Converter ") Roger May, announced today that SUR Sur, Lebanon: see Tyre. COMMUNICACIONES, a 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. of World IP Inc., an Advanced Global Communications/ADVC Company, has been awarded an International Carrier license in Chile by the Minister of Transport and Telecommunications, and the Sub-secretary of Telecommunications of the Republic of Chile. The Telecommunications Intermedia Intermedia - A hypertext system developed by a research group at IRIS (Brown University). Carriers License will give SUR COMMUNICACIONES coverage for origination and termination of Domestic, National and International Long Distance Services for the entire country of Chile, thus reinforcing the company's commitment to become a major player in the Telecommunications Long Distance Market in Chile, and the South American continent. World IP already has a contract to provide Global One with capacity to originate minutes from Chile to multiple countries in South and Central America, as well as North America and Europe. This business is ongoing and is expected to ramp up to fully operational basis within 120 days. In addition, Advanced Global Communications has met with the leading officials of government telecommunications agency in Nicaragua to negotiate for an international carrier and Internet license for bi-directional termination in that country. Applications for the license have been filed and are currently being reviewed. Approval of the applications and issuance is expected in July 2000. The issuance of this license will give Advanced Global Communications the ability to process international calls and Voice IP/Internet traffic out of Nicaragua, while also establishing a solid infrastructure base to build additional network capacity in Nicaragua, and throughout South/Central America. During the talks in Nicaragua with the telecommunications regulating bodies in Nicaragua, the SpectruCell technology was extensively discussed in regard to the potential for its application in South/Central America. The Nicaraguan authorities have requested a visit from the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Advanced Communications Technologies, to further explore the opportunities for the SpectruCell technology, and this is planned for late June, 2000. Advanced Global Communications/World IP also has similar carrier license applications in process in Guatemala, Panama and Venezuela. May also stated that, "current efforts to obtain multiple International Carrier Licenses, and GSM and CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. licenses in several South/Central American countries is consistent with ADVC's planned establishment of joint venture networking facilities in the region during the current environment of governmental deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. of the telecommunications industry". The foregoing contains forward-looking information within the meaning of The Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion