American Diversified Group - ADGI - and its Affiliate, Global Transmedia Communications Corp. - GTCC - Announce Merger Plans.HICKORY, N.C.--(BUSINESS WIRE)--Aug. 31, 1998--ADGI (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on BB:ADGI) announced Monday that it has signed an agreement to acquire its telecommunications affiliate, GTCC GTCC Greater Than Class C (waste) GTCC Gas Turbine Combined-Cycle (power plant) GTCC Government Travel Charge Card GTCC General Trading & Contracting Company . GTCC provides both Internet telephony services achieving high quality, real time voice communications over the Internet utilizing the latest in advanced analog to digital conversion, data compression, packet reconstruction and echo cancellation techniques and on-hold media services for both corporations and telephone companies utilizing the latest Algorithm and digital telephony technology. Under the agreement, ADGI will acquire 80% controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in GTCC and integrate GTCC's service into the telecommunications services already offered by ADGI. ADGI will now have a global reach for its telecommunications network as GTCC and its equipment supplier, Innomedia Inc. have now tested their Voice over Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ) in North America, Latin America, the Middle East and the Far East. Through Innomedia's technology GTCC will be able to operate its Internet calling services all over the world through its base in Miami. GTCC has added additional upgraded services to its corporate calling network (CCN CCN Cloud Condensation Nuclei CCN Church Communication Network CCN Conseil Canadien des Normes (Standards Council of Canada) CCN Critical Care Nurse CCN Certified Clinical Nutritionist CCN Community Care Network CCN Cyclin ) and individual calling network (ICN ICN International Council of Nurses. ). GTCC will sell calling minutes, which can be utilized from anywhere in the world simply by using the subscriber's access code and password. By having GTCC's Miami gateway as the access to long distance calling, subscribers will be able to make calls anywhere in the system for a very small fraction of their regular calling rates. For further information, ADGI's Broadcast Fax System provides ADGI Information (releases, newsletters, shareholder updates) and is accessible to all ADGI shareholders via fax. To become part of ADGI's Broadcast System, please contact ADGI's Investor Relations Office at 212/332-5009 or by fax at 212/332-3249. Global Transmedia Communications Corp. may be reached at 305/620-2577. CONTACT: American Diversified Group Investor Relations Office Tel. 212/332-5009 Fax 212/332-3249 or Global Transmedia Communications Corp. 305/620-2577 |
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