Innotelco Inc. Announces Management Discussion and Shareholder Update Tuesday November 8, 12:56 pm ET
Retires 971,250,000 Shares and Provides Corporate Update on Europe
TORONTO--(MARKET WIRE)--Nov 8, 2005 -- INNOTELCO, Inc. (Other OTC:ILCO.PK - News), a marketer and distributor of telecom hardware and network solutions, announces new share structure and provides a corporate update
The Company has retired 971,250,000 shares reducing the authorized from 1,597,597.083 to its current position of 626,347,083 authorized and outstanding of which 312,500,000 are restricted. The company is currently evaluating its share structure and will be considering further amendments if required.
Management confirms that it has postponed the China Trip for the New Year. "We expect to finalize all outstanding business that we currently have in Europe, in order to properly focus on strengthening our relationships in Asia," said Ross Sehovic, CEO.
The recent trips to Europe have produced such positive results that the Company has been overwhelmed by the response. Senior management continues to focus its efforts finalizing details that will benefit the Company and its shareholders. Management plans on returning to Europe in December and will keep shareholders updated of their results. "We are extremely pleased with the progress we have made thus far, however, there are many opportunities in the European region for us to capitalize on. Our European development and financing are of paramount importance for Innotelco at this point in time. We have fielded several financing options and are reviewing them with our legal counsel," said Ross Sehovic, CEO.
Further, "As I mentioned before, the company has been extremely busy overseas and has plans to return in December, but while we are in North America our primary focus will be on corporate governance and bringing our public house in order. We have started by evaluating our share structure and now we will get all other affairs concluded so that we can enter any financing agreement with confidence."
"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.
-------------------- I'm not going to comment further, as I refuse to get into a battle of wits with an unarmed person.... Posts: 546 | From: Columbus | Registered: Aug 2005
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INNOTELCO Inc. Announces Letter of Intent to the Value of USD$4.7 Million Wednesday November 9, 9:45 am ET
TORONTO--(MARKET WIRE)--Nov 9, 2005 -- INNOTELCO, Inc. (Other OTC:ILCO.PK - News), a marketer and distributor of telecom hardware and network solutions, announces today that it has entered into a Letter of Intent with AB Technics to provide cable products valued at USD$4.7 million over a period of two years.
ADVERTISEMENT "We believe that the potential result of entering into this Letter of Intent with AB Technics Company will develop the beginning of a positive discussion for future relations," said Ross Sehovic, CEO.
About AB Technics
AB Technics is a private company that was founded in 1991 under the name "Termostroj" and since 1995 has been operating under the present name of "AB Technics." They specialize in design engineering, turn-key projects and execution of all phases of work. Of the 230 staff members employed by the company technical staff make up one third of their employment force. The Company's head office is located in Sarajevo, along with one branch office and warehouse facility.
AB Technics is a well-known development company in the region that has been part of the EC reconstruction programme in Bosnia and Herzegovina for the last twelve years. This programme was under the European Commission and World Bank auspices, with the support of the European Commission.
"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.
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-------------------- I'm not going to comment further, as I refuse to get into a battle of wits with an unarmed person.... Posts: 546 | From: Columbus | Registered: Aug 2005
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-------------------- I'm not going to comment further, as I refuse to get into a battle of wits with an unarmed person.... Posts: 546 | From: Columbus | Registered: Aug 2005
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imakmony2005
unregistered
posted
Sure hope so now. BIG G, Dont tell your wife it was me.
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whats with the bid/ask on this, my ameritrade shows the bid at .0001 an ask at .009 but last sale at .0023
Posts: 244 | From: des moines, iowa | Registered: Feb 2005
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