Printer Friendly

SATX, Inc. Working to Complete 10K.

TAMPA, Fla., April 17 /PRNewswire/ --

SATX, Inc. (OTC Bulletin Board: SATX) announced today the Company is working diligently to complete its 10K filing with the SEC as soon as possible.

Terry L. Colbert, President and CEO of SATX, Inc. commented, "Company attorneys, accountants and members of the Board are dedicated to completing the filing accurately and as soon as possible." Colbert went on to say, "The new Board and I took over February 27th, and of course, had several issues to attend to, including the sale of ORA Electronics. The short timeframe, in which we have had to work, has resulted in a delay in filing of our 10K."

"We have accomplished several significant activities in the short time that the new Board and management have been in place as we have reorganized, cleaned up the Balance Sheet and refocused the business," continued Mr. Colbert. "We regret that our filing has not been completed, but want to assure our shareholders that we are confident that it will be completed within a few days and will reflect all events that have taken place through the filing date. Reporting all events through the filing date has presented numerous challenges and we hope the shareholders will be appreciative of the immense efforts that have gone into this filing," added Mr. Colbert.

The Company also stated that due to the efforts that have gone into the 10K the first quarter 10Q will be filed timely.

Additionally, the Company announced that it is in the process of relocating the Company to Atlanta, GA. Several options, as to location, are being reviewed and additional information will be forthcoming as it is available. In the interim, shareholders may contact the Company's answering service at 813-290-0911 for information.

About SATX, Inc.

SATX, Inc. specializes in wireless communications devices including patented proprietary GPS tracking, locating and control devices and prepaid cellular technology. The Company's products position the company to take advantage of a wide range of GPS tracking and control applications, prepaid cellular and other telecommunications markets

About SATX's Patented Proprietary GPS Tracking and Control Product Line

SATX holds several patents for 2-way paging technology that utilizes the Global Positioning System (GPS), coupled with one-way and two-way paging systems. Their proprietary product line is different from other GPS tracking products in that they are not only used to locate a vehicle or rail car, for instance, but can also be used to control "on/off" devices such as an automobile ignition system, power door locks and various security and theft notification and recovery applications. And more importantly, they do not need expensive cellular communications to communicate with the control center. SATX utilizes low cost paging systems to send and receive signals to and from the various products. SATX will be announcing their new GPS tracking, locating and control product line soon.

About SATX's Prepaid Cellular Technology

SATX holds proprietary prepaid cellular technology that allows users/purchasers to budget exactly how much they wish to spend on their cellular services. The technology eliminates surprise fees and charges and utilizes proprietary, copyrighted software that allows the purchaser to use a credit card to purchase additional minutes via a toll free number. Once the purchaser buys the minutes they desire, they simply dial a four-digit code into the cellular phone that was given to them during the call and within minutes the time will be added to the phone. This can be done anytime from any phone and the minutes added immediately.

Any statements released by SATX that are forward-looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements involve risk and uncertainties that may affect SATX's business prospects and performance. Actual results may differ materially from the results predicted, and reported results should not be considered an indication of future performance. It is further noted that data referenced in this release may represent partial data, such as sales results, which are subject to supplementation by other disclosures by the Company. Potential risks and uncertainties may include economic, competitive, governmental, technological, or other factors discussed in SATX's filings with the SEC on forms 10-K, 10-Q, and 8-K.

SATX, Inc. is featured on and is regularly featured in their newsletter. Additional information may be obtained by emailing or visiting
COPYRIGHT 2001 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 17, 2001
Previous Article:State of Hawaii Introduces Online Tax Filing.
Next Article:Ingram Micro to Announce First Quarter Earnings.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters