Ashton Technology Group (fka ASTN)

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from tcps shareholder letter
• TechnoConcepts’ U.S. subsidiary, Asanté Networks, recently entered into a MOU with ZTE Corporation, the largest network equipment manufacturer in China (annual revenue in excess of US $4 billion). Under the terms of the MOU, Asanté expects to distribute ZTE networking equipment products throughout the U.S., Canada and Europe.


• Asanté has been restructured. Upon the closing of a financing targeted directly to Asanté, expected by June 2007, we expect that a new management team will be headed by a seasoned sales veteran who will become the subsidiary’s permanent CEO. Asanté has entered an MOU, which we hope will lead to an agreement, with UIC, a major equipment manufacturer in Taiwan for distribution into Small Medium Business (SMB) network security solutions of networkable cameras. We believe Asanté will achieve initial revenues of $1.5 million by August 2007.