Global Telecommunication Solutions, Inc. Announces New Corporate Identity, Company Founder Returns As Chief Strategy Officer.Business Editors/Hi-Tech Writers NEW YORK--(BUSINESS WIRE)--April 28, 2000 Global Telecommunication Solutions, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: GTST GTST Goede Tijden, Slechte Tijden (Good Times, Bad Times; Dutch TV soap opera) GTST Grimsby Town Supporters Trust (Grimsby, UK) GTST Global Traffic Safety Trust ) ("Company") announced that its Board of Directors has adopted a proposal to change the Company's name to Global iTechnology, Inc. The Company's stockholders must approve the proposed name change before it becomes effective. This new proposed corporate name reflects the complete re-positioning of the Company to focus on integration of online and offline transactional processing for distribution and fulfillment. The Company will retain the stock symbol "GTST." Paul Silverstein, a pioneer of the prepaid phonecard phonecard Noun a card used instead of coins to operate certain public telephones phonecard n → tarjeta telefónica phonecard phone n business and founder of the Company, has returned to develop and implement this new business model for the Company as Chief Strategy Officer. "There is a clear void in the current marketplace for effective methods for companies to integrate their offline and Internet distribution channels to increase revenue online and at retail locations, " stated Paul Silverstein. "Since over 90% of consumer purchases still occur in the offline environment, companies must leverage current investments in real estate and inventory to integrate an e-commerce business process." "The Company is developing the process technology which will provide the foundation and structure to enable online and offline companies to conduct integrated transactions in the retail and promotional marketplace," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Paul Silverstein, "Our equity ownership in Enticent.com, Inc. ("Enticent") is the first step in accomplishing our goal. I am very confident that we will grow our business quickly through in-house development and additional equity investments in synergistic business ventures." Enticent is an incentive-based customer acquisition and loyalty company based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Enticent provides B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business solutions for companies to develop and maintain consumer relationships utilizing online and offline integrated programs. Except for any historical information contained herein, the matters discussed in this press release contain 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. that involve risks and uncertainties which are described in the Company's SEC reports, including the Company's Form 10-KSB for the year ended December 31, 1999 and the Company's Prospectus dated July 9, 1997. |
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