said that its performance in recent years has been adversely affected due to intense competition in the telecommunications industry and the other factors which have adversely effected that industry.
Initially, GRGI will deploy six GDC APEX IMX edge switches, which will be used as part of our service solution with full integration to our international gateways in Miami, Los Angeles and New York.
After several months of reviewing different technologies, vendors, products and support services, GRGI believes it made the right decision in choosing GDC's ATM solution.
GRGI also chose GDC's VITAL Network Services organization to provide remote network monitoring management for the ATM backbone.
So, accordingly we are adjusting our 12-month target up to $18 for GRGI.
The trading symbol GRGI promises to be one of the fastest growing stock companies of the next 36 months
GRGI is on target to be marketing a wide variety of motorsports themed affinity telecommunications products and services through this relationship beginning the first of March, 1999.
In exchange for providing the patented game, GRGI receives the exclusive long distance telecommunications marketing rights on Action's goracing.
This past weekend, another milestone was accomplished when GRGI activated the 'Global Resources Network' and began transmitting customer traffic," stated Ken Craig, CEO of GRGI.
When installation is completed, GRGI will carry in excess of 150,000,000 minutes per month for this customer.
Commenting on the merger for GRGI
, Chairman Howard Davidsmeyer "the complementary network and market positions of these two companies provide synergies which we expect will significantly enhance our presence in our common target markets"
The finalization of those relationships create a win-win situation for both American Communications and GRGI