Quest Net Corp. Issues Correction and Clarification.Business Editors MIAMI--(BUSINESS WIRE)--April 10, 2000 Quest Net Corp., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :QNET) issued a press release today correcting and clarifying its press release of April 5, 2000 "Quest Net Corp Announces Wireless Telephony telephony without wires, usually employing electric waves of high frequency emitted from an oscillator or generator, as in wireless telegraphy. A telephone transmitter causes fluctuations in these waves, it being the fluctuations only which affect the receiver. See also: Wireless ." Due to a typographical error typographical error - (typo) An error while inputting text via keyboard, made despite the fact that the user knows exactly what to type in. This usually results from the operator's inexperience at keyboarding, rushing, not paying attention, or carelessness. Compare: mouso, thinko. , the word Internet was omitted from the sentence "Quest Net is one of the largest regional wireless Internet communication providers, with connection speeds of up to 24Mb over a distance of over 40 miles." The corrected release follows: Quest Net Corp. announces today the integration of voice and data over the wireless backbone. Charles Wainer, president of Quest Net Corp. announced today the introduction of 2 new services, Local Dial Tone and Long Distance calling. These services will be bundled with the existing High Speed Internet and delivered over Quest's 5.8Ghz wireless backbone in South Florida. These services will be provided by CWTel, Inc., Quest's recently acquired, wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . CWTel is a switch-based carrier for local and long distance voice calls, utilizing conventional transmission methods and Voice over IP protocols. "These services will position Quest Net as a full communications solution provider, which we believe will allow us to rapidly broaden our customer base and offer new options to existing customers," stated Mr. Wainer. Quest Net Corp., through its subsidiaries, is licensed by the Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. and the Florida Public Service Commission Florida Public Service Commission (FPSC) is an independent regulatory agency serving the public of Florida by managing its public utilities such as telecommunications, electricity, natural gas, water, and wastewater. as an alternative local exchange carrier (CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) ) and Long Distance Carrier. Based in Miami, Florida “Miami” redirects here. For the Native American tribe, see Miami tribe. Miami is a major city in southeastern Florida, in the United States. It is the county seat of Miami-Dade County. Miami is a gamma world city with an estimated population of 404,048. , Quest Net Corp. is a provider of complete communication services, including local dial tone, long distance services, Internet and Intranet broadband networking for commercial and residential customers. Quest Net is one of the largest regional wireless Internet communication providers, with connection speeds of up to 24Mb over a distance of over 40 miles. Additionally Quest Net provides local Internet dial-up and nation-wide roaming, web hosting, secure servers, e-commerce solutions, and collocation. The statements which are not historical facts contained in this press release are forward looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filing with the Securities and Exchange Commission. |
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