Affordable Telecommunications Scores Financing, May Trigger Acquisitions.Business Editors/High-Tech Writers HOUSTON--(BUSINESS WIRE)--Aug. 7, 2003 Affordable Telecommunications Technology Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :ATCT ATCT Airport Traffic Control Tower (FAA) ATCT Air Traffic Control Tower ATCT Air Traffic Control Transponder ATCT Analog Toll Connecting Trunk ), a marketer of telecommunications products and services, announced today that the Company has entered into a Letter of Understanding to secure financing through access to a credit facility offered by an outside group of private, commercial lenders. Steve Bethke, 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. and president of Affordable Telecommunications Technology, stated, "Our goal and long-term objective is to build value for our shareholders. The Company has completed several financial restructuring initiatives. When completed, this round of financing will provide us with necessary working capital, as well as position ATCT for the next phase of its acquisition and collaborative business plans including, but not limited to, possible business combinations or transactions involving certain assets of the Company." Affordable Telecommunications Technology Corp., located in Houston Texas, markets pre-paid and post-paid telecommunications products and services through its retail outlet "The Wireless Store." Through a subsidiary company, Z Mail Media Inc., Affordable plans to provide public access Internet kiosks in high traffic tourist locations in the western U.S. The Company intends to expand the service to other parks, cities and major airports. The "Z Service" can be purchased as used or by subscription. For additional information, see: www.zmailmedia.com . In a previous release, ATCT announced that it had been selected to manage the Houston-based CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) , IntraLinc. ATCT will develop residential and business services using IntraLinc's CLEC authority and SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. reseller agreements. Forward-looking statements in this release are made pursuant to the "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. " provisions of 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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