SOURCE: Nettel Holdings

October 02, 2007 09:27 ET

Nettel Holdings Reports on Tougi Orders and Progress of New Trading Platform

VANCOUVER, WA--(Marketwire - October 2, 2007) - Nettel Holdings, Inc. (OTCBB: NTTL) reports on Tougi orders and progress of new trading platform.

Over the past month, Tougi's wholesale large contract division has helped both buyers and sellers complete and ship over 40 containers of logs and plastic films during the month of September. Additional orders for these products have already been placed and are scheduled to be repeated on a bi-monthly basis. This brings the 3rd quarter total of orders Tougi has initiated to $4mil. A letter of credit for the agri-fertilizer order is completed and we expect the first shipment to start in November. Our back office is currently working with buyers and sellers on completing our current backlog of orders. Details of the terms will be released upon receiving final agreements (payments, delivery, inspection, shipping, bonding, etc.) and Letter of Credit from both buyers and sellers.

The team of eight programmers assigned to work on the Tougi project is still working diligently on completing the new trading platform. Because of its size and complexity, it has taken longer than we have planned. At this time, based on current progress, we feel very comfortable that the new trading platform will be completed by next week. Once the new platform is completed, we will be able to receive and process a much larger number of small and medium size orders very efficiently. This next version is a tremendous improvement over our previous one. Everyone that has been testing the beta version is very excited and feels it will be one of the most comprehensive cutting edge platforms in the industry with products and features that will revolutionize the way global products are purchased.

Once again, we want to thank you for your continued patience as we strive to develop Tougi and bring it to its full potential.

Contact Information

  • Contact:
    Investor Relations
    503-336-5098