News from ICTN about Contract with reeltime
(PINKSHEETS: ICTN), announced today the expansion of the existing development contract with ReelTime Rentals, Inc. ICT has been continuously supporting ReelTime in the development of its core product the Intelligent Rapid Delivery System (IRDS). IRDS manages and delivers streaming video via the Internet through www.reeltime.com. ICT will continue to take a leading role in the development of the ReelTime's website and E-commerce platform and, additionally, expand its role toward obtaining and training ReelTime's development team, thereby amplifying the speed and scope of development.
"This agreement fits extremely well with Innovative's focus on the further development of emerging communications specific technologies," indicates Ron Henthorn, COO, Innovative Communications Technologies. "We are pleased to be working closely with ReelTime Rentals, Inc. and proud of the great success they have had in a short period of time since launching September, 2006."
ICT owns approximately 32 million shares of ReelTime Rentals, Inc. and has a proven 18 year track record of developing communications specific technologies and 35 total years of development and licensing these technologies to companies like ReelTime Rentals, Inc.
About ReelTime Rentals, Inc.
ReelTime Rentals' mission is to deliver diverse programming, for rental or by subscription, over its online broadband network, enabling viewers to watch whatever they choose, anytime and anywhere they want to see it -- all they need is a broadband connection. ReelTime offers the first DVD quality "Point, Click, and Watch" user experience available on the World Wide Web. ReelTime is providing the public the next generation of online viewing technology, designed with the built in capacity for unlimited growth. For more information, go to www.reeltime.com.
About Innovative Communications Technologies
Innovative Communications Technologies is a communications specific technology development company and, since 1989, has been a pioneer in the development and positioning of private telecommunications networks for businesses. Innovative has a proven track record of developing communications specific technologies within the telecommunications, media and wireless industries. For more information visit the company's website at www.ict.net. Innovative owns approximately 21% of ReelTime Rentals, Inc. www.reeltime.com.
Safe harbor statement under the private Securities Litigation reform Act of 1995
This news release contains forward-looking statements, including statements regarding Innovative's expectations about successfully expanding its GPTN business and securing significant additional customers for its products or services. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the loss of a large customer, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of GPTN, the loss of any key personnel, tightening regulation of the communications technologies and channels used in our systems, our inability to introduce new services that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of existing and potential litigation, and the possibility that competitors could develop or acquire technology that could erode Innovative's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release.
