Cybertel Converts All Outstanding Warrants, Announces Two New Gateways.LA JOLLA La Jolla (lə hoi`yə), on the Pacific Ocean, S Calif., an uninc. district within the confines of San Diego; founded 1869. The beautiful ocean beaches, in particular La Jolla shores and Black's Beach, and sea-washed caves attract visitors and , Calif.--(BUSINESS WIRE)--March 26, 1999--Cybertel Communications Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CYTP) announced today that it has called all outstanding warrants from the company's original 504 offering. All outstanding warrants have been converted as of March 10, 1999. These conversions have enabled Cybertel to raise an additional $750,000, which it will now use to build two additional gateways in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. and Seattle. "These two new gateways will be fully functional by August. They'll be instrumental in helping us increase our customer base. The addition of Las Vegas and Seattle will bring the number of markets where we can offer our Internet Protocol-based telecommunications services In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. to 19," says Richard Mangiarelli, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cybertel. Cybertel already has a gateway in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . It also announced last week that it has signed an agreement with Level-3 Communications to utilize its existing gateways in 16 markets. The agreement gives Cybertel the right to install equipment in Level 3's facilities and provides the company with the ability to interconnect (1) To attach one device to another. (2) A physical port (plug, socket) or wireless port (transmitter, receiver) used to attach one device to another. with other carriers that are already utilizing Level 3's facilities. Level 3 operates one of the leading Internet Protocol-dedicated, non-circuit switched networks. The statements made by Cybertel Communications Corporation may be forward looking in nature. Actual results may differ materially from those projected in forward looking statements. Cybertel Communications Corporation believes that its primary risk factors include, but are not limited to: the need for substantial financial requirements; the need to develop effective internal processes and systems; changes in the overall economy; changes in technology; the number and size of competitors in its markets; and changes in the law and regulatory policy. Merger Communications (Merger) is a media relations firm employed by the Company. The statements and opinions presented here represent the views of the Company, not Merger, as the release is based on the information provided by the Company. Merger and the Company believe that all information in this release has been obtained from sources considered reliable, but can not guarantee that the statements presented herein are accurate or complete. Merger's compensation for its media relations services, including preparation of press releases, consists of a monthly retainer A contract between attorney and client specifying the nature of the services to be rendered and the cost of the services. Retainer also denotes the fee that the client pays when employing an attorney to act on her behalf. and restricted stock. Merger may have a long position in the securities of the companies in which it distributes information to the media, and Merger may be buying or selling securities in the course of its regular business. |
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