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  Home > Canada News > Satelinx (SLXI.PK) Announces Updates for December, 2005

Satelinx (SLXI.PK) Announces Updates for December, 2005

Updates on projects and reorganization, BOD member resigns and approximately 21 Million shares pulled back.

Montreal, QC (PRWEB) December 21, 2005 -- Satelinx (SLXI.PK) announces the status of several projects to date and a member of the Board of Directors resigning. The company also announces a pull back of shares.

The 2005 updates include:

GPS Bracelet / Watch Technology

Presently both Benefon and Satelinx are extensively testing this new product. Improvements have already been made and the next set of testing to comence in the new year.

Cartel Distribution Agreement

Unfortunately the distribution agreement with Cartel will not proceed because a mutual consensus could not be reached.

Virtual Wave Inc. and Satelinx are still working together and the relationship is proceeding on a partnership level into the new year.
Brazil,and India are to date are not proceeding a quickly as hoped and anticipated. Although India relationships are growing. Greece is proceeding and is on track.

Board of Director Resigns
Claude Moreau resigned due to personal reasons.

Share Pull Back

Satelinx has pulled back approximately 20 Million Shares as part of the reorganization, bringing the total amount of shares to under 41 Million.

Overall Status:

Satelinx over the next several months will be concentrating on sales. At this stage we will be supporting our existing distribution channels and direct sales as the company restructures which includes; the management team, the Board of Directors and consolidating several related companies to form a Satelinx Consortium of companies.

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