SOURCE: Nettel Holdings

August 24, 2007 09:29 ET

Nettel Holdings Releases Update and Revamps Tougi Platform

VANCOUVER, WA--(Marketwire - August 24, 2007) - Nettel Holdings (OTCBB: NTTL) releases update and revamps Tougi platform.

It has been two months since our last update. It's been a very busy two months for all of our employees and the management at Tougi. We have all worked long and hard and management is very proud of the progress that has been achieved.

Since its inception over six months ago, Tougi has diversified and expanded its operations substantially. As of today, Tougi has partnered with over 7,000 major manufactures worldwide giving us full access to their products inventory. The amount of buyers coming to Tougi has overloaded our capacity.

The company has gone through a great deal of expansion (and growing pains as well). When a brand new technology is developed and launched, the road is never smooth, and we've had our share of bumps over the past few months. We have received many small, medium, and large size orders on a daily basis. However, our success depends on our ability to not only accept the orders but also the ability to deliver them to meet our client needs. Lack of quality customer service and sales support has been a problem in processing and fulfilling many of these recurring orders ($25k - $30k). In addressing these issues, Tougi has invested the necessary resources on hiring and training 24 additional managers, sales and support, customer service and shipping personnel at our Portland and Vietnam office.

Once the new customer service and sales support department is fully trained and in operation, we will be able to start to fulfill back orders as well as current orders.

While our current sales department has successfully processed a few containers of goods during the third quarter, our Wholesale large contract division is still working with clients on completing larger multimillion orders ranging from used rail, corn, to urea fertilizer. Each of these orders are currently at various stages of processing. While some of the large orders are at the stage of proof of products inspection, others are at the stage of draft letter of credit. Details of the terms will be released on our Tougi.net site upon receiving final agreements (payments, delivery, inspection, shipping, bonding, etc.) and Letter of Credit from both buyers and sellers.

We are continually upgrading or devising new ways to keep up with these commitments. There's no slowing down, so we just have to meet these challenges in positive ways that bring results to our clients as quickly as possible.

In addition to working on improving our customer service issue, our development team has been working very closely with our clients over the past two months to modify our system to meet their needs. As a result, our development team is currently finalizing the next version of Tougi's back office platform (real-time access to manufacturer inventory database) and website. The new version has been in beta testing with a few selected buyers and manufacturers. We expect to release the final (website and trading platform) version within the next three weeks. This next version is a tremendous improvement over our previous one. Everyone that has been testing it 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