Came out with news yesterday afternoon and the daily range jumped from 0.005 - 0.035.
According to charts, back in May they were up around .20. If volume
holds on this one, I think it may be in for another run.

***FOR 8/5/04***
Prev. Close 0.004
Open 0.005
Close 0.035
Last Sale 0.0350
Volume 270,000
Change 0.031
Shares (last trade) 15000
% Change 775.00%
Tick Type UP
Day High 0.035

*****NEWS***** http://biz.yahoo.com/bw/040805/55693_1.html
ITOS Inc. Signs Definitive Merger Agreement with Satellite Phone
Source
Thursday August 5, 2:42 pm ET

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Aug. 5, 2004--ITOS Inc.
(Pink Sheets:ITSZ - News) has entered into a definitive merger
agreement to acquire 100 percent of the shares in Satellite Phone
Source. All interim officers and directors of ITOS will resign
immediately and Stan F. Wilson Jr. will be appointed chairman,
president and CEO, while Marc J. Caparrelli is to be appointed
secretary/treasurer.
"We are extremely excited about this transaction," stated
Wilson. "Our company is in a high growth stage and in an industry
that is highly fragmented. This merger with ITOS will enable us to
roll-up several competitors that provide synergy to our current
structure. With our aggressive strategy, we believe we can become
one of, if not the largest independent players in North America." It
is expected that the merger will close within the next two weeks.

Satellite Phone Source is a leader in satellite phone sales and
rentals. The company has provided phones to Fortune 500 companies,
the U.S. military and small businesses and consumers throughout
North America. A complete list of their products and services can be
found at www.satellitephonesource.com.

In other news, ITOS announced that it has retired 100 percent of the
debt left behind by previous management. Loans were made to IT
Outsource Inc. and at the time of dissolution, the company was left
with these liabilities. "In fairness to new management," stated a
company spokesperson, "we felt that the company needed a fresh
start. It is unfortunate that the situation had to arise in the
first place, but now we can all move ahead. Satellite Phone Source
gives us a tremendous opportunity to grow this company quickly
through acquisitions."

Disclaimer: The company relies upon the Safe Harbor Laws of 1933,
1934 and 1995 for all public news releases. Statements, which are
not historical facts, are forward-looking statements. The company,
through its management, makes forward-looking public statements
concerning its expected future operations, performance and other
developments. Such forward-looking statements are necessarily
estimates reflecting the company's best judgment based upon current
information and involve a number of risks and uncertainties, and
there can be no assurance that other factors will not affect the
accuracy of such forward-looking statements. It is impossible to
identify all such factors. Factors which could cause actual results
to differ materially from those estimated by the company include,
but are not limited to, government regulation; managing and
maintaining growth; the effect of adverse publicity; litigation;
competition; and other factors which may be identified from time to
time in the company's public announcements.

---------------------------------------------------------------------
-----------
Contact:
Pegasus Capital Inc. for ITOS Inc.
Raymond J. McNamee, 949-706-0141

------------------