CNES Enters Into Final Negotiations for PDVSA Pilot.AGUA DULCE, Calif.--(BUSINESS WIRE)--Nov. 4, 1998--Conectisys Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CNES CNES Centre National d'Etudes Spatiales (French Space Agency) ) engaged in final negotiations with Petroleo de Venezuela, S.A., commonly known as PDVSA PDVSA Petroleos De Venezuela, SA , the state-owned oil company of Venezuela, to establish and deploy a temporary pilot program within PDVSA's vast infrastructure for beta testing (programming) beta testing - Testing a pre-release (potentially unreliable) version of a piece of software by making it available to selected users. This term derives from early 1960s terminology for product cycle checkpoints, first used at IBM but later standard throughout the of Technilink Technology Manufacturing Inc.'s CUBE 2001 systems controls and data acquisition (SCADA (Supervisory Control And Data Acquisition) A process control application that collects data from sensors and machines on the shop floor or in remote locations and sends them to a central computer for management and control. ) product. Terms and Conditions were not disclosed due to the sensitive nature of the negotiations; however, the proposed Pilot Program was described as material and substantial to the earnings potential of the company if proven successful. Robert Spigno, chief executive of CNES, was optimistic regarding the proposed relationship. "As our team continues to drive the proposed pilot toward a close with our friends from PDVSA, we are progressively thinking toward the mutual long-term relationship with PDVSA after the close of a successful pilot program within their infrastructure," Spigno said. "Although the proposed pilot program is substantial for the company at this point, we are focused and prioritized on the ultimate goal: to build a solid relationship of mutual benefit of problem solving problem solving Process involved in finding a solution to a problem. Many animals routinely solve problems of locomotion, food finding, and shelter through trial and error. and performance enhancing with PDVSA for many years to come. The contemplated pilot will allow our highly skilled team the opportunity to prove our worth materially within the petrochemical industry, and strategically align with a behemoth behemoth (bē`hĭmŏth, bĭhē`–) [Heb.,=plural of beast], large, fanciful primeval monster, like Leviathan, evoking the hippopotamus mentioned in the Book of Job. within. We are confident that our aggressive approach to penetrating the petrochemical market with the CUBE 2001 will be our leader in revenue generators for the fiscal year 1999." PDVSA is the largest corporation in Latin America, with sales for fiscal 1996 exceeding $33 billion, with respective profits for that same period of $4.495 billion. PDVSA is the largest petroleum/oil company in Latin America. Conectisys Corp., tandem with its subsidiaries Primelink Inc. and Technilink Manufacturing Inc., manufactures, markets, sells and distributes, telemetry-based products to the Wireless Automatic Meter Reading Automatic meter reading, or AMR, is the technology of automatically collecting data from water meter or energy metering devices (water, gas, electric) and transferring that data to a central database for billing and/or analyzing. (AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. ) market, petrochemical industry and utility companies. Except for the historical information contained herein with regard to the past markets or research and development of CNES's products, the matters in this news release contain forward-looking statements as defined in Section 27(A) of the Securities Act of 1933 and Section 21 (E) of the Securities Exchange Act of 1934, as amended. Such forward-looking statements and information involve risks and uncertainties, including but not limited to, primary customer order rates, cancellations, dependence on certain customers of the company's specialized business products, and late delivery of vendor supplies, equipment, or services, that may cause production delays. Other certainties related to the company's business and securities which are traded over the counter, are outlined in the information and materials available upon request, by contacting Kit Bromley & Co. Inc. or the company. |
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