News

Telecom/kiosk company hires financial adviser

January 9, 2003

HOUSTON, Texas -- Affordable Telecommunications Technology Corp., a marketer of wireless telecommunications products and services which also provides public access Internet kiosks through subsidiary Z Mail Media, Inc., has retained FirstChoice Communications, Inc. of Houston to advise it on strategy, recapitalization and building shareholder value.

Steve Bethke, chief executive and president of Affordable Telecommunications Technology, said in a news release, "These last several months have been difficult for us, but we have a plan to reestablish the company's growth and to work through these challenging economic times. We have reduced expenses and expanded our business strategy to take advantage of several new opportunities which have been presented to us."

The company on Dec. 10, 2002 implemented a 400 to 1 reverse stock split, according to Yahoo Finance. Its stock price rose from zero cents a share to 50 cents a share on Dec. 12 following the announcement, but dropped back to 7 cents a share on Dec. 13.

Its stock opened trading on Jan. 8 at 13 cents.