| [June 17, 2005] |
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Affordable Telecom Asian Unit Completes Cash Now Deal
HOUSTON --(Business Wire)-- June 17, 2005 -- Affordable Telecommunications Technology Corp. (Pink Sheets:ATCT) (www.atct.us) announced today 7123000.COM, its Asian sales and distribution subsidiary, has completed its initial Contractual Agreement with Cash Now Corporation, America's premier business aggregators, whose franchise business includes Check Cashing and Payday Loan facilities.
7123000.COM has gained the International Franchise from Cash Now for all of Asia. This includes China down through Indonesia and the Pacific Islands.
Currently, Cash Now Corporation in the United States has an annual revenue of $6.5 Million U.S. dollars with the expected increase of $1,300,000 for the Fiscal Year ending June, 2006. Currently their international Franchisee has an annual turnover of over $800,000 with an expected increase of $1,000,000 for the same time period.
7123000.COM will now seek governmental licensing in South East Asian countries for Cash Now -- ATM services as well as opening franchises in the region.
The potential revenue for 100 stores and 300 ATMs in Asia will generate $31,000,000 annually. This is the goal for the first fiscal year of 7123000.COM's exclusive license.
Safe Harbor Statement
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected.
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