SOURCE: ReelTime Rentals, Inc.

March 06, 2008 06:30 ET

ReelTime Rentals Announces Innovative Communications Technologies, Inc. Founder and CEO Barry Henthorn to Refocus

SEATTLE, WA--(Marketwire - March 6, 2008) - Innovative Communications Technologies, Inc. (PINKSHEETS: ICTN) announces today that Barry Henthorn, CEO and founder of the company, is concentrating his full attention to ReelTime Rentals, Inc. (PINKSHEETS: RLTR), to further the advancement of the company's rapidly expanding opportunities. Barry Henthorn will continue to support Innovative as an advisor and will remain an active member of the company's Board of Directors. The company will announce the successor as soon as negotiations are finalized.

"It is with great pride that I step aside from the CEO position at Innovative. The company is sound under the current management line-up and I am confident my colleagues at ICT will continue to be on the forefront of technology development, particularly with ICT's new integrated calling platform," said Barry Henthorn, former CEO of Innovative. "My talents are now better served, on behalf of both companies, as full-time CEO of ReelTime. The overwhelming number of opportunities presenting themselves to ReelTime demands and deserves my full attention. I will be concentrating on negotiating with major content providers and affiliate partners, expanding ReelTime's technology to support greater needs, and continually developing ReelTime's marketing plan. I look forward to focusing my time on ReelTime's success, keeping in mind that I am furthering emerging technologies created by Innovative's product development."

About ReelTime Rentals, Inc.

ReelTime Rentals' mission is to deliver diverse programming, for rental or by subscription, over its online broadband network, enabling viewers to watch whatever they choose, anytime and anywhere they want to see it -- all they need is a broadband connection. ReelTime offers the first DVD quality "Point, Click, and Watch" user experience available on the World Wide Web. ReelTime is providing the public the next generation of online viewing technology, designed with the built in capacity for unlimited growth. ReelTime Rentals can be found on the Internet at www.reeltime.com.

About Innovative Communications Technologies

Innovative Communications Technologies is a communications specific technology development company and, since 1989, has been a pioneer in the development and positioning of private telecommunications networks for businesses. Innovative has a proven track record of developing communications specific technologies within the telecommunications, media and wireless industries. Innovative owns 21% of ReelTime Rentals, Inc. (PINKSHEETS: RLTR) (www.reeltime.com), 30% of Exosphere Aircraft Company, Inc. (www.flyexosphere.com) and 100% of privately held ICT Private Networks and the "Cannes Project."

Safe harbor statement under the private Securities Litigation reform Act of 1995

This news release contains forward-looking statements, including statements regarding Innovative's expectations about successfully expanding its GPTN business and securing significant additional customers for its products or services. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the loss of a large customer, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of GPTN, the loss of any key personnel, tightening regulation of the communications technologies and channels used in our systems, our inability to introduce new services that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of existing and potential litigation, and the possibility that competitors could develop or acquire technology that could erode Innovative's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release.

Contact Information

  • Contact:
    Joel Edwards
    Director of Business Development
    Innovative Communications Technologies, Inc.
    206-219-6860
    joel@ict.net
    www.ict.net