Amplidyne Signs Letter of Intent With Local Internet Service Provider.RARITAN, N.J.--(BUSINESS WIRE)-- December 7, 1999-- Amplidyne am·pli·dyne n. A rotating magnetic amplifier with specialized windings that allow small changes in power input to produce large changes in power output. [Originally a trademark.] , Inc. (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 : AMPD AMPD Alisveris Merkezleri ve Perakendeciler Dernegi (Turkish Council of Shopping Centers and Retailers) AMPD Adenosine Monophosphate Deaminase AMPD Average Miles Driven Per Day AMPD Atomic and Molecular Physics Division , AMPDW), a manufacturer of wireless communications amplifiers, and related products, announced that it signed a letter of intent with IngressNet, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a local 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. , relating to the sale of products for High Speed Internet Access. Under the letter of intent, Amplidyne has set up an initial site in Northern New Jersey for technology demonstration to the ISP. The ISP will have an exclusive territory to deploy the equipment. It is expected that the ISP will purchase equipment valued between $1-$5 million during the fiscal year 2000.It is expected that a definitive agreement will be executed in the next 60 days. Devendar S. Bains the President, Chief Executive Officer and Chairman of Amplidyne, Inc. stated that "It is rewarding for Amplidyne to receive this letter of intent after demonstrating its capabilities to the customer. The company will now concentrate on sales and marketing of its products in the United States and worldwide market". Michael Flicker, VP Strategic Development at IngressNet, LLC stated, "Amplidyne has provided and installed equipment for several of our clients. We have found it to be both reliable and dependable. Both IngressNet and our customers are happy with the service. We are looking forward to placing additional orders for equipment with Amplidyne." Amplidyne designs, manufactures and sells ultra linear power amplifiers and related subsystems to the world wide wireless telecommunication market. These single and multi-carrier linear power amplifiers, which are a key component in cellular base stations, increase the power of radio frequency and microwave signals with low distortion. The Company's products are marketed to the cellular, wireless local loop and PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. segments of the wireless telecommunications industry. The Company has also developed products to offer high-speed internet access to residential and business clients of Internet service providers 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. . The equipment operates in the 2.4 GHZ license free band. Certain information contained in this press release is forward-looking. Actual results might differ materially from the forward-looking statements contained in this press release. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are; the failure to enter into a definitive agreement, modifications to specifications requested by the customer, fluctuations in purchase orders, cancellations of orders due to rapid technological changes or the customer's failure to meet its forecasted usage, requirements for new product development and product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. , risks involved in starting new product lines and competition. |
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