Advanced Communications Technologies, Inc. -- Court Extends Order.Business Editors LOS ANGELES--(BUSINESS WIRE)--May 16, 2002 Advanced Communications Technologies, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ADVC ADVC Analog to Digital Video Converter ) (ACT) today announced that following a hearing on May 14, 2002 the Supreme Court of Victoria in Melbourne, Australia has extended an order previously granted to the Company on May 8, 2002. The order has now been extended until May 27, 2002 at which time the court will hear further submissions from the parties. The order prevents Advanced Communications Technologies (Australia) Pty Ltd ("ACT-Australia") from "acting upon or taking any further steps in reliance upon" a notice of breach of the License Agreement between the Company and ACT-Australia. The Company disputes the notice of breach. A full update of the Company's court proceedings were recently outlined in an 8K filing with the Securities and Exchange Commission. To view this document, click here http://www.sec.gov/Archives/edgar/data/1100820/000089843202000340/0000 898432-02-000340.txt (Due to the length of this URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. , it may be necessary to copy and paste To copy files from one location to another or to copy text and images from one document to another. All modern operating systems and applications have a copy and paste capability that is typically selected from an Edit menu. See cut and paste and Win Copy between windows. this hyperlink into your Internet browser's URL address field.) "We are particularly encouraged by the Court's continued protection of our interests," said Wayne Danson, President and CFO See Chief Financial Officer. of ACT. "While we intend to vigorously defend our rights, we are also hopeful of reaching a mutually beneficial settlement with ACT-Australia in order to streamline the testing and roll out of the SpectruCell base station. We have a significant opportunity before us and a combined effort will provide the best means to capitalize on this growing market." In addition to its interests in the SpectruCell base station, the Company continues to seek opportunities to strengthen its operations through the acquisition of suitable businesses and technologies. About Advanced Communications Technologies Inc. Advanced Communications Technologies Inc. ("ACT") holds the exclusive rights throughout the North, South and Central American markets to SpectruCell, a software-defined radio (SDR See software defined radio. ) multiple protocol wireless base station consisting of hardware and software that enables network providers to install a single base station and configure it to any or all protocols (GSM, 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. , UMTS, W-CDMA See WCDMA. , etc). SpectruCell has been, and other related products are being, developed by Advanced Communications Technologies (Australia) Pty Ltd, in which the Company owns a 20% interest. For more information regarding Advanced Communications Technologies, Inc., visit http://www.actadvc.com. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934. Although the Company believes that the expectations reflected in such statements are reasonable, no assurances can be given that they will prove correct. The Company remains exposed to risk factors that include the availability of financing, the outcome of 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. , the outcome of negotiations with ACT-Australia, technical or equipment complications, the availability of qualified personnel, market competition, meeting time critical requirements and others. Statements made herein are not a guarantee of future corporate or stock performance. The Company does not update or revise its forward-looking statements even if it becomes clear projected results (expressed or implied) will not be realized. |
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