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American Access Technologies Posts President's Message to Shareholders.


Business Editors/Technology Writers

LAKE MARY Lake Mary may refer to:
  • Lake Mary, Florida, a town in Florida
  • Lake Mary Township, Minnesota, a township in Douglas County, Minnesota
  • Lake Mary (Arizona), a reservoir south east of Flagstaff, Arizona
  • Lake Mary, a lake in McLeod County, Minnesota
, Fla.--(BUSINESS WIRE)--Dec. 11, 2001

American Access Technologies, Inc. (Nasdaq:AATK AATK Always At the Keyboard ) today released President John E. Presley's following letter to shareholders:

Success for American Access Technologies, Inc. has been a conundrum conundrum A problem with no satisfactory solution; a dilemma  in 2001. We are a good, solid, debt-free company with adequate working capital and a patented product but, until now, that product has had limited acceptance in the marketplace.

I promise you, we have studied this puzzle, and we are working toward solving it.

Over the past two years, we had to learn how to sell our unique products when they were not widely accepted by the telecommunications industry. From the beginning, we believed that our zone cabling cabinets would find their niche and prove to be a viable alternative to traditional home run cabling methods. Meanwhile, we planned that American Access' solvency would come through our Omega sheet metal fabricating jobs. Indeed, the plant has run double shifts in recent months, and we have gained recognition for our participation in the production of chemical warfare chemical warfare, employment in war of incendiaries, poison gases, and other chemical substances. Ancient armies attacking or defending fortified cities threw burning oil and fireballs. A primitive type of flamethrower was employed as early as the 5th cent. B.C.  detectors. Along the way, we began looking for Looking for

In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with.
 a merger candidate that, combined with our strengths, would add to shareholder value.

Despite our best efforts, we made a couple of mistakes.

Our online marketing attempts have been suspended pending evaluation. The method of sales online would have penalized pe·nal·ize  
tr.v. pe·nal·ized, pe·nal·iz·ing, pe·nal·iz·es
1. To subject to a penalty, especially for infringement of a law or official regulation. See Synonyms at punish.

2.
 our longstanding distributors, and we did not want to do that. We lost money on this approach, and we apologize.

We made a good faith effort to merge with DataWorld Solutions, Inc., so we could increase our sales and expand our realm in both products offered and in

our revenue stream. We had no choice but to terminate that merger after a DataWorld news release confirmed that the merger would not be in the best interest of our stockholders.

Many of you have asked why we didn't seek acquisition by a much larger company. When our management began strategizing about our future growth, we talked to many companies, large and small. And we learned that American Access at $5 million in revenues is much too small a fry to be considered for acquisition by a very large corporation. How can we become a viable candidate? By growing steadily and surely and by continuing to look for a strategic partner or a good merger candidate.

Meanwhile, the economy has been in a severe slump, and most analysts predict that it won't begin to recover until sometime next year. Our sales in 2001 have certainly suffered for it since many of our metal customers have gone out of business, and many zone cabling projects have been postponed. But we have survived what we believe to be the worst of it, and we are not giving up. As the patriarch of our management team, with 40 years experience in business, I personally have been through five or six recessions, and you should know that I will not give up. We have taken appropriate cost-cutting measures, we have money in the bank, and we intend to survive.

In October, our investment bankers Investment Banker

A person representing a financial institution that is in the business of raising capital for corporations and municipalities.

Notes:
An investment banker may not accept deposits or make commercial loans.
, a former officer/director, a director, and some employees exercised stock purchase warrants, from which the Company gained almost $2.9 million. We have already earmarked some of this working capital for expansion of our sales and marketing efforts and our in-house engineering capabilities. Not only are we focused on selling our product, but a renewed effort is being made to market our Company to potential investors.

We expect to work hard on your behalf, and to thrive in the future. The signs are becoming clearer that our new sales program and company direction will be successful. For a comprehensive look at the cost efficiency of our products, please visit our website, http://www.aatk.com, and read our commissioned White Paper, or contact us for a copy.

Major telecommunications network A telecommunications network is a of telecommunications links and nodes arranged so that messages may be passed from one part of the network to another over multiple links and through various nodes.  systems providers are beginning to advertise zone cabling products in trade journals. We manufactured and private-labeled some of the products featured in those ads.

We believe that the moment for which you have been patiently waiting, the moment zone cabling "happens" in the marketplace, is near. We can feel it, hear it, see it. During 2001, zone cabling has been a hot topic at Building Industry Consulting Services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.)
service - work done by one person or group that benefits another; "budget separately for goods and services"
 International (BICSI (Building Industry Consulting Service International, Tampa, FL, www.bicsi.org) An international telecommunications association providing education, registration and resources for professionals involved in the design and installation of low-voltage distribution systems in commercial and ) conferences, and the esteemed Telecommunications Industry Association See TIA.

(body, standard) Telecommunications Industry Association - (TIA) An association that sets standards for communications cabling.

Cables that TIA set standards for include: EIA/TIA-568A and EIA/TIA-568B category three, four and five cable.
, charged with defining and setting standards in the industry, recently convened a special panel on the subject. Also, we have been asked to join TIA (1) (Telecommunications Industry Association, Arlington, VA, www.tiaonline.org) A membership organization founded in 1988 that sets telecommunications standards worldwide. It was originally an EIA working group that was spun off and merged with the U.S. , an honor we quickly accepted. Additionally, we have created our own advisory board of recognized industry professionals who can help guide us and who can share their years of acumen gained working in telecommunications and related fields. We are experiencing growing acceptance of our newest wireless enclosure, recently specified at University of Florida University of Florida is the third-largest university in the United States, with 50,912 students (as of Fall 2006) and has the eighth-largest budget (nearly $1.9 billion per year). UF is home to 16 colleges and more than 150 research centers and institutes. , and the subject of a private label agreement with a major systems provider, coordinated through our distributor, Anixter International Anixter International (NYSE: AXE) is a Fortune 500 (#454, Fortune 2007) company based in Glenview, Cook County, Illinois, and founded in 1957. Anixter is a large distributor of communication products and electrical and electronic wire and cable, and a leading distributor of , Inc. Hitachi's Maxcess has committed to incorporating our enclosures in its under-floor system, and we provided a key component to the Pentagon's ongoing renovation using secured access enclosures for national safety. You can read our press releases on these and other subjects by visiting our website, http://www.aatk.com.

We are well positioned. But of course, we need your patient support and help. When we announce a major agreement, such as with divisions of Tyco, you won't see our sales skyrocket overnight. Understand that. It takes time to take this product to market, but rest assured, we are taking it there.

Now is a good time for you to add to your position as a shareholder in AATK stock, trading on Nasdaq. As you know, the nation's stock markets, and particularly the telecommunications sector, have been hit hard by recent economic and political events. We believe the downturn is cyclical. As Abraham Lincoln's advisors wrote for him when asked for words of wisdom applicable in good times and in bad, "This too, shall pass". Invest in us by the old adage, Buy Low, Sell High. We believe our stock is undervalued Undervalued

A stock or other security that is trading below its true value.

Notes:
The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating.
, a true bargain right now, but if we have our way, it won't be for long.

We ask that our loyal shareholders, and our new friends, join us on this incredible journey we are taking toward success. We can promise you quite an adventure.

News and product/service information are available at http://www.aatk.com.

American Access manufactures patented zone cabling units that mount in ceilings, raised floors, and in custom furniture, routing traditional cabling, fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber  and wireless solutions to the office desktop. The Company's concept of "zone cabling" reduces costs for installation and moves, adds, and changes by as much as 70% while providing plug and play, up-gradable networks, fiber optics and wireless LAN A local area network that transmits over the air typically in the 2.4 GHz or 5 GHz unlicensed frequency band. It does not require line of sight between sender and receiver. Wireless base stations (access points) are wired to an Ethernet network and transmit a radio frequency over an area .

Note: This press release for American Access Technologies, Inc. may contain forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 as defined in Section 27A of the Securities Exchange Act of 1934, regarding events, conditions and financial trends that may affect the Company's operating results and financial position. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual events or results may differ from the Company's expectations, which are subject to various risks and uncertainties listed in the Company's SEC filings.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Dec 11, 2001
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