Advanced Communications Technologies Secures $12 Million Line of Credit -- Ladenburg Thalmann.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Dec. 19, 2000 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 ), today announced it has executed final documentation to secure a $12 million equity line of credit with Ladenburg Thalmann, one of the oldest New York-based investment banking firms. This agreement completes the initial proposal that was announced in July of this year. Roger May, chief executive officer, said, "We are very pleased to finalize the Ladenburg Thalmann funding. They are an eminent and well respected investment banking firm. The credit facility will be utilized to support U.S. based marketing programs, develop the U.S. corporate infrastructure and drive strategic acquisitions designed to enhance the effectiveness of the company's flagship product, SpectruCell -- a revolutionary multi-protocol base-station technology for wireless telecommunications." The company recently announced that its Australian-based affiliate, Advanced Communications Technologies (Australia) Pty Ltd (ACT-AUS), has filed the second in a series of patents to provide protection for its SpectruCell technology. About Ladenburg Thalmann & Company Ladenburg Thalmann is a 125-year-old full-service investment bank and one of the oldest members of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , having been established in 1876. It has five brokerage houses located across the country, and its research analysts actively cover more than 80 companies in numerous fields and monitor more than 200 companies. Since 1991, the company has completed in excess of US$6.5 billion in public and private financing and approximately US$10.9 billion in total corporate finance transactions. About Advanced Communications Technologies Inc. Advanced Communications Technologies Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ADVC) is a leader in the field of Software Defined Radio A wireless terminal (phone, PDA, etc.) that is reconfigurable via software. It enables wireless devices to be easily updated to new or later versions of the air interface and allows multiple interfaces to be supported. that in conjunction with its Australian based affiliate has developed a proprietary, multiple-protocol wireless base-station, "SpectruCell." Through eliminating the use of Qualcomm (Nasdaq: QCOM QCOM Qualcomm, Inc. (stock symbol) ) chipsets and protocol specific hardware and conducting all signal processing in software, SpectruCell provides for simultaneous support of multiple mobile communications protocols (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. , WCDMA (Wideband CDMA) A 3G high-speed digital data service provided by cellular carriers that use the TDMA or GSM technology worldwide, including AT&T (formerly Cingular) and T-Mobile in the U.S. , UMTS (Universal Mobile Telecommunications System) The GSM implementation of the 3G wireless phone system. Part of IMT-2000, UMTS provides service in the 2 GHz band and offers global roaming and personalized features. , GSM & 3G) all in the same base-station. Support for additional protocols is achieved through the uploading of software modules. By implementing the company's SpectruCell technology network providers will be able to maintain service to their existing customer base and preserve the utilization of their existing network infrastructure while at the same time securing a highly flexible migration path for evolving 3G-based protocols such as WCDMA and UMTS. SpectruCell is complemented by several other wireless technologies currently under development. Advanced Communications Technologies plans to market these products throughout North, South and Central America. For more information regarding Advanced Communications Technologies, visit www.act-usa.net. 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. |
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