has permits, licenses, and entitlements to operate a 25MW, expandable to 75MW, solar power plant in General Santos.
There will be a share for share exchange for all ADGI
shareholders and stockbrokers will receive instructions for exchanging share certificates.
In making the announcement, ADGI
management noted that NASD had not alleged any wrongdoing on the part of the company or its management.
This relationship will prove to be very advantageous to ADGI
from several standpoints, key of which will be substantial continuing revenues with significant profit margins that will provide financial fuel for acquisitions.
Timothy Huff, CEO of ADGI
, states, "We believe this report gives investors, brokers and the public an overview of the telecom industry and how our present positioning and planning fits into the future of telecom and provides ADGI
and its local partners with many opportunities and advantages.
Huff, CEO of ADGI
states, "We are very happy to have Marc Fitzhugh join us.
This is another part of our communications strategy to inform the public about ADGI
- it is now time for us to tell `The ADGI
We all look forward to 2002 being a very successful year for ADGI
Under the network agreement, ADGI
will establish six VoIP networks and will provide Charterhouse with 25% participation and ownership interests in each, in exchange for a payment by Charterhouse of up to $3.
The agreements with Global VoIP are on an annual basis, but ADGI
is proceeding to negotiate with Global VoIP to make the arrangements permanent based upon the performance of the parties.
The current Network Share Agreement for these networks calls for ADGI
to receive a percentage of network revenue for a defined period of time.
Hinton, President of ADGI
pointed out that although the restructuring process will continue during 2002, the main work was completed during 2001, and as a result, overhead will be much less than last year.