Funr (FUNR)

[SharonB]

neggar: Follow up. Old article but an indication of where they are/want to go.(SB)
INNOTELCO Discusses Results of Recent Board of Directors Meeting
Wednesday December 20, 8:45 am ET


Contracts Discussed Are Expected to Realize in Excess of $7 Million in Revenues for INNOTELCO in 2007


TORONTO--(MARKET WIRE)--Dec 20, 2006 -- INNOTELCO, Inc. (Other OTC:ILCO.PK - News) today announced the results of its recent board meeting. The company continues to diversify itself by reducing its concentration on transactions within the telecommunications sector to a company that is fast becoming a facilitator of large scale commodities transactions. These commodities include barley, sugar and oil, in addition to commodity-type hardware such as telecommunications products. INNOTELCO is applying this strategy because of the higher margins that can be realized in these large scale commodity transactions.

INNOTELCO is entering the final stages of negotiations for a long-term contract to supply sugar which will be shipped on a regular basis from Brazil to Algeria, Tunisia, Sudan and Libya. In total, the shipments will represent approximately 500,000 metric tons of cane sugar. INNOTELCO expects to realize revenues in excess of $2.5 million and as much as $5 million from this contract. The contract is expected to be signed this month and initial shipments are expected to begin in January 2007.

In addition, the company's directors have made final arrangements for a feed barley shipment which will originate in Eastern Europe and is destined for North Africa. The company is expected to realize a net income of $192,000 from this deal.

Radomir Popovic, Vice President of Sales and Marketing for INNOTELCO, stated, "Much effort has gone into setting up an infrastructure which will allow our company to easily facilitate shipments from South America, China and Eastern Europe to North Africa. We believe we will finally realize the results from the tremendous amount of work that has gone into building this worldwide system. I personally have made several trips over the past year to Eastern Europe and North Africa to help complete these transactions."
Disclaimer follows at this link.
http://biz.yahoo.com/iw/061220/0197013.html
SharonB