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Affordable Telecommunications Signs MOU.


HOUSTON -- Affordable Telecommunications Technology Corporation (Pink Sheets:ATCT ATCT Airport Traffic Control Tower (FAA)
ATCT Air Traffic Control Tower
ATCT Air Traffic Control Transponder
ATCT Analog Toll Connecting Trunk
) and the founders of 7123000.com announce they have signed a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment.  (MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. ) to integrate operations. E[acute accent]The external founder of ATCT's subsidiary 7123000.com has agreed with the board of directors to fully integrate the operations of the companies. This reorganization of the company will see 3 new Board Members drawn from Asia and the Telco sector and a redefinition of management roles. This action will also provide funding for licenses and allow the expansion of operations in Asia and a new focus on the domestic USA market. E[acute accent]The founder of 7123000.com has made an undertaking to make a general offer to all shareholders at $ .07c at the time, and the close of that offer will see them as the major shareholder. E[acute accent]Shares involved in the merger will change hands at an agreed 7c, subject to the current boards due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired.  (DD) of 7123000.com. E[acute accent]A central Hong Kong administration centre will be at the core of the reorganization with Bangkok, providing back office administration information technology (IT). It will be centralized in the Philippines and China, and the USA will have a sales presence.

E[acute accent]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.
 Statement

E[acute accent]Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under 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. Forward-looking statements are based on current expectations and the current economic environment. E[acute accent]This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected.
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Publication:Business Wire
Geographic Code:1USA
Date:Sep 14, 2005
Words:309
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