Posted by: LittleStocks
In reply to: None Date:9/10/2003 8:51:02 AM
Post #of 31492
"Former sub" TTXI News after the bell, "Shell Stock" moves easy
Telco Technology, Inc. Announces the Signing of Letter of Intent to Merge with Chinese Media Company
PR Newswire, Tuesday, September 09, 2003 at 16:03
CLOSTER, N.J., Sept. 9 /PRNewswire-FirstCall/ -- Telco Technology, Inc.
(BB:TTXI) (the "Company" or "TTXI") announced today that it
has signed a Letter of Intent to merge with a Hong Kong-based media company
with operations in Beijing, China.
The Company indicated that the Chinese media markets are huge and content
providers represent the future of these markets. This transaction will
include TV content, production and distribution according to the Company. The
Hong Kong-based media company also has offices in the United States. TTXI
indicated that interfacing with the major media companies in the United States
will be important.
Don McKelvey will be the initial CEO of the combined company, continuing
to build the management team, and will be visiting Beijing, China shortly to
solidify business development matters.
"The China market has exploded economically and its engagement with the
world has mushroomed, so this represents an enormous opportunity for Telco
Technology," said McKelvey. "Their technology base has become quite
sophisticated and many American companies have made the Chinese market
paramount," McKelvey concluded.
The terms and conditions of the proposed transaction have not been
finalized at this time although the Company is hopeful the transaction can be
completed in October, 2003. There can be no assurance however that an
agreement will be signed or that said transaction will ultimately be
consummated.
Telco Technology, Inc. currently has no business operations; however, the
Company seeks to acquire a privately held company within the
Telecommunications and/or Internet industries. TTXI, which is a fully
reporting company with the SEC, is current in all of its filings.
Safe Harbor Statement Under the Private Securities Litigation Act of 1995
With the exception of historical information, the matters discussed in
this release are forward looking statements that involve a number of risks and
uncertainties. The actual future results of TTXI could differ from those
statements. Factors that could cause or contribute to such differences
include, but are not limited to the ability of TTXI to find and complete an
acquisition or merger. For more complete discussion of risks, see the
information contained in the "Uncertainties and Risk Factors" Section of the
Company's Form 10-KSB for the year ended December 31, 2002.
SOURCE Telco Technology, Inc.
-0- 09/09/2003
/CONTACT: Don McKelvey, Chairman, Telco Technology, Inc.,
+1-201-768-2310, or
Mckelveydon@hotmail.com
; or Howard A. Scala, President,
Wall Street Communications, Inc., +1-800-338-9338, for Telco/
/Web site:
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