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ILCO is down quite a bit it seems, a few weeks ago I was trading it back an forth in the .005 to .0065 range, its at .0038 now with pretty dead volume, anyone with charts see a good buy in right now
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TORONTO -- (MARKET WIRE) -- 12/14/05 -- INNOTELCO, Inc. (OTC: ILCO), a marketer and distributor of telecom hardware and network solutions, announces the signing of a Letter of Intent with Fenghua Yuguang Electron Wire & Cable Manufacturing Co. Ltd to be an exclusive supplier of cable and cable products for the Southeastern Region of Europe.
Following the return of management from the Berlin Trade Show in September, Innotelco entered into discussions with two companies to negotiate Letters of Intent. The company has now signed a Letter of Intent with a manufacturer from China, Fenghua Yuguang Electron Wire & Cable Manufacturing Co. Ltd, to the value of US$5 Million annually.
"I am very pleased to be in a position to make this announcement. We have negotiated several excellent contracts and have at last settled on a manufacturer who we believe will work with the company to produce products to our expectations. I also like the fact that Fenghua Yuguang is in Ningbo, a tariff free zone in China, if we can close our Letter of Intent with free zone Kovin then Innotelco will have the added benefit of doing transactions from free zone to free zone which would give us a very strong competitive edge," said Ross Sehovic, CEO.
"We at Fenghua Yuguang Electron are excited about our new relationship with Innotelco, we have spent quite a long time researching and talking with other companies in the region, but we decided on Innotelco because of their management and established networks and contacts in the region." (Blank Zhang, Fenghua Yuguang).
About Fenghua Yuguang Electron Wire & Cable Manufacturing Co. Ltd
The company manufactures cable products for the European, Middle East, and many other markets around the world. They have the technical ability to test products to quality standards manufactured in their factory.
The company is located in Ningbo in the middle of China's coastline and in the south of Yangtze Delta. It is divided from Shanghai by the Hangzhou Bay. Ningbo has grown into one of the four International deepwater harbors in China.
"INNOTELCO - Building Bridges for Communication"
About Innotelco, Inc.
Innotelco is a telecom hardware supplier, specializing in servicing emerging markets looking to expand their telecommunications networks. Innotelco products range from indoor and outdoor coaxial cables and accessories to fibre optics and switching equipment.
Safe Harbor Statement
This press release contains forward-looking statements as defined in the Securities Litigation Improvements Act of 1996. The words "believe,'' "expect,'' "estimate,'' "project'' and similar expressions define forward-looking statements, which speak only as of the date the statement was made. Innotelco, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise. Forward-looking statements are currently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated in, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the Company's ability to meet its projected growth, the effects of government regulation, competition and other material risks.
Contact: Innotelco, Inc. Ross Sehovic 416-259-8444 Website: www.innotelco.com
-------------------- ......in Psychiatry circles it's known as a "warning sign"
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