TTEN News ...
Ten & 10, Inc. Due Diligence Team Returns From China
Tuesday December 5, 10:14 am ET
WASHINGTON, DC--(MARKET WIRE)--Dec 5, 2006 -- Ten & 10, Inc. (Other OTC:TTEN.PK - News) announced today that it recently sent representatives to China to perform due diligence on two Chinese companies with which Ten & 10 entered into agreements during the months of October and November. Ten & 10's subsidiary Tech 10 entered into two Letter Agreements with Infox Computer Service Co., Ltd. (ICS), dba Infox Edge Communications (IEC), a comprehensive high-tech company in Guangzhou, Guangdong Province, China; and FSP Holdings Limited (FSP), which wholly owns Zhejiang Fibersense Communication Technology Company Limited, which is headquartered in Hangzhou City, Zhejiang, China.
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George Csatary, CFO of Ten & 10, was able to confirm existing contracts with both of the strategic joint venture partners. IEC has signed several related contracts with major providers. Under these contracts, IEC will develop hardware and software for infrastructure, with the goal of being marketed by way of one of the major service providers. IEC is a wireless technology provider of Mobile Streaming Service Platform based Multimedia Processing System in Peoples Republic of China (PRC).
FSP has several production contracts throughout provinces in the PRC to provide WiFi and WiMAX services. The company operates under a proprietary platform called the 3.5G spectrum, which is the only band licensed and certified by the Chinese government, and additionally has several public safety contracts in place with various government entities. Various applications include video conferencing, monitoring of roads and rail, multi-media broadcasting, and distance learning. Their strategic wireless WiMax network agreement is with China Telecom, which has the best fiber optics network in place, and is seeking more applications to maximize revenues.
The preliminary report to the Company from Mr. Csatary is that Ten & 10 should move forward with both transactions. Curtis Pree, President of Ten & 10, stated, "This trip is the first stage in the process with these strategic joint ventures in China. We also anticipate pursuing additional opportunities to grow our company in the Chinese market."
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:
The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings.
Contact:
Contact:
Jack Eversull
Investor Relations
The Eversull Group
Email Contact: Email Contact
972-991-1672 (office)
972-991-7359 (fax)
Barbara Manui
Investor Relations
Blue Future
P.O. Box 286392
New York, NY 10128
Email Contact: Email Contact
212-423-0407
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Source: Ten & 10, Inc.
Everthing I say is IMO. Do your own DD and u wont regret it.
