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Petroleum Communication Holdings Announces Trading Symbol Change: ATWL to PTLC24 December 2005
Petroleum Communication Holdings, Inc.
formerly "AIT Wireless, Inc." (OTC: PTLC) formerly (OTC: ATWL) announced it
had been assigned a new trading symbol from NASDAQ. The symbol has been
changed from ATWL to PTLC. Petroleum Communication Holdings announced its
name change from AIT Wireless several weeks ago. When a company changes its
name it receives a new Cusip number printed on all its share certificates,
which then prompts NASDAQ to assign a new trading symbol. It becomes
effective at the opening of the stock market trading day on Thursday,
December 22.
"This is the automatic next step in aligning our identity to our overall
business strategy brought about by our name change a few weeks ago,"
commented Ernest Phillips, President of PTLC. "Other than using the new
trading symbol for making a buy or sale or making inquiries, there are no
changes necessary to any share certificate our shareholders have in hand;
this is an automatic change of the trading symbol only.
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Petroleum Communication Holdings, Inc.
"This has been a year of major progress for us, in addition to the
diversification and acquisition of key petroleum reserves, we have made
great strides in reorganizing our Telecom division. Revenue from Telecom
equipment sales for the 4th quarter will be the best of the year, which
normally is our slowest quarter. Additionally, we are very excited about
the new wireless payphone product we will be introducing into developing
countries next year, which should energize the entire Telecom division,"
Phillips stated.
"We are also in the process of preparing for our audit. We are in hopes of
completing it and being fully reporting by the end of second quarter,"
commented Phillips.
"By closing 2005 this strong and with the new initiatives undertaken this
year in both the Petroleum sector and our Telecom business we will see
strong revenue growth in 2006; we are looking forward to a very successful
year," Phillips concluded.
This press release may contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. These
include, but are not limited to, statements regarding the Company's plans,
intentions and expectations. Forward-looking statements are based on the
opinions and estimates of management at the time the statements are made.
Such statements are inherently subject to a variety of risks, uncertainties
and other factors that could cause actual results to differ materially from
those expected or implied by the forward-looking statements. These factors
include general economic and business conditions nationally,
internationally and in the regions and countries in which we operate;
demographic changes; technology changes; competition; changes in business
strategy or development plans; our high leverage and our ability to access
capital markets; our ability to attract and retain qualified personnel;
existing governmental regulations. Given these factors, investor and
analysts should not place undue reliance on forward-looking statements.
Petroleum Communication Holdings, Inc.
Ernest Phillips
863-647-4341
ephillips@pcholdings.com
SOURCE: Petroleum Communication Holdings, Inc. (formerly AIT Wireless, Inc.)
Source: marketwire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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