ConectiSys Corp. Announces HNet Network Release and New Funding.Business/Energy Editors & High-Tech Writers LOS ANGELES--(BUSINESS WIRE)--April 28, 2004 ConectiSys Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CNES CNES Centre National d'Etudes Spatiales (French Space Agency) ) today announced that the Company has secured its funding requirements for 2004. The debenture will meet the cash requirements of the Company through its continued product development cycle of its HNet wireless automatic energy meter reading system. ConectiSys' products have been designed exclusively for the energy industry and are considered by experts within that arena to be an on-time solution for the 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. (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. ) markets. At this stage of development the Company's small certified ConectiSys HNet wireless network has been reporting, archiving and displaying via the Internet real time energy consumption records reliably and accurately for over six months. Please see ConectiSys' new website at www.ConectiSys.com and find live meter reads with residential consumers -- Direct Access customers of Southern California Edison Southern California Edison (or SCE Corp), the largest subsidiary of Edison International (NYSE: EIX), is the primary electricity supply company for much of Southern California. It provides 11 million people with electricity. in Orange County, Calif. -- who are participating in ConectiSys' joint pilot program. In further news, ConectiSys has been given a green light from its Local Energy Distribution Company for a second and possible third network release in Los Angeles County. Please watch for ConectiSys' next monthly report for more news. 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 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: The statements contained herein that are not historical are forward-looking statements that are subjects to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control including, but not limited to, market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company filings with the Securities & Exchange Commission. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion