GS Telecom, Limited Announces ATTM License Agreement.Business/Technology Editors SOUTHAMPTON, ENGLAND--(BUSINESS WIRE)--Dec. 20, 1999 GS Telecom, Limited (OTC/BB:GARD) today announced it has entered into a licensing agreement with World Innovations Netcomm Services, Inc., creator of the Asset Transfer Teleminute Manager (ATTM ATTM At This Time ATTM Ammonium tetrathiomolybdate ATTM AT&T Mobile ATTM Alt.toys.transformers.moderated (newsgroup) ATTM American Telephone and Telegraph Microelectronics ) technology, to provide the ATTM Card to millions of credit and Internet users worldwide. Under the terms of the five-year deal, GS Telecom, Limited will be the exclusive provider of the ATTM card throughout Europe and has the right to sub-lease the technology to other companies worldwide. The company will receive revenues generated through transaction fees. In return, World Innovations Netcomm Services will receive 3.5 million shares of GS Telecom, Limited common shares. The ATTM Card operates as a universal credit, debit and phone card. Customers redeem prepaid telephone minutes to purchase goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. , place domestic and international telephone calls and withdraw cash from automated teller machines automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. . Users can earn bonus points for purchases, which can be converted into cash. In addition, the ATTM card provides users with a secured method to purchase merchandise and services through the Internet. "Consumers and businesses are constantly seeking for an easy and highly secured method to conduct e-commerce transactions," said Colin Gervaise-Brazier, GS Telecom, Limited 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. . "We believe that the ATTM Card will create a viable Internet payment option and provide multi-dimensional usage for individuals and businesses worldwide." GS Telecom, Limited will begin immediately marketing the ATTM Card to e-commerce companies and expects to make the card available to individuals in January. GS Telecom, Limited is not affiliated in any way with GST GST abbr. Greenwich sidereal time GST (in Australia, New Zealand, and Canada) Goods and Services Tax Telecommunications, Inc. or GST Telecom, Inc. 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. Act Disclaimer The statements contained in this release and statements that the company may make orally in connection with this release that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of 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. Actual results may differ materially from those projected in the forward-looking statements, since these forward-looking statements involve risks and uncertainties that could significantly and adversely impact the company's business. Therefore, actual outcomes and results may differ materially from those made in forward-looking statements. |
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