GS Telecom, Ltd. Signs Final Agreement for ATTM Universal Card.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and PORTLAND, Ore. and LONDON--(BUSINESS WIRE)--April 21, 1999--GS Telecom, Ltd.(OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :GARD) GS Telecom, Ltd. (OTC Bulletin Board:GARD news) GS Telecom, Ltd. announced it has received an executed definitive Agreement with World Netcom Services, Inc, thereby acquiring all intellectual property, including patents pending, proprietary hardware and software - and all current business relationships surrounding - the ATTM ATTM At This Time ATTM Ammonium tetrathiomolybdate ATTM AT&T Mobile ATTM Alt.toys.transformers.moderated (newsgroup) ATTM American Telephone and Telegraph Microelectronics Universal Card, for a consideration of 333,333 restricted shared of GS Telecom, Ltd. common stock. The Agreement is subject to a 28-day "due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. ," during which GS Telecom, Ltd. retains the right of final approval. World Netcom Service, Inc. will act under an exclusive licensing agreement as a distributor of ATTM Universal Card products to network marketing companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. only. The ATTM Universal Card technology can be used to create a preloaded hybrid "Smart-Card," that may enable transactions in 53 currencies, throughout the world, including the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. and the Former Soviet Union. The card can also be used as an anonymous currency card, designed to make possible instantaneous, anonymous transactions over the Internet. The execution of the final agreement was delayed from an expected date in late March, due to a redrafting as a technology acquisition instead of a simple marketing and development license. Andrew Castle, GS Telecom President, explains. "Initial negotiations for this acquisition focused on only the licensing and marketing rights (of the ATTM Universal Card.) When the opportunity presented itself to acquire the exclusive IP, we were pleased to restructure the final document to take advantage of the offered acquisition of the proprietary technology and in-place distribution agreements. "We look forward to developing these alliances, and to forming new strategic partnerships to enhance and deliver ATTM technology- based products to a global market." GS Telecom, Ltd. is a U.S. high-tech development and marketing company with offices in San Francisco and London. For more information on the company's vision, visit GS Telecom, Ltd. on the web, at www.gs-tele.com. Please note: GS Telecom, Ltd. 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. of Vancouver, Washington and no inference of any relationship is suggested in any area of industry. 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 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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