LAS VEGAS, Oct. 18, 2005 (PRIMEZONE) -- MB Tech (OTCBB:MBTT) announces that certain production goals for the Q3 period have not been met. MB Tech, however, remains steadfast in their efforts to meet production goals and to bring the products to the U.S. market.
Manufacturing tooling has been completed for production of the Faserwave Flat Antenna, with the exception of the cover case, being decided by the customer. There is an intense advertising campaign being finalized to attract the North American DBS carriers. Hanwook Bae, CEO of MB Tech, stated, "We are capable of demonstrating the product's operation in North America, and now are working to create the 'break-through' opportunity with North American DBS market."
The Faserwave marine antenna should be completed in 60 days, with the only part remaining being the tracking board. The other mechanical, housing, antenna and LNB components are complete. "This platform is a critical step in adaptations for future mobile antenna types," said Mr. Bae.
The Cell Phone Detector has finished and a local distributor is working with the Education Authority in Korea. There was a meeting in Los Angeles to show and promote the features of this product, attended by Invizeon and other parties interested in the potential of the technology. Of the Cell Phone Detector, Hanwook Bae added, "We are looking forward to expanding this product design with Invizeon and others."
MB Tech, Inc. also exhibited the Auto Positioning Flat Antenna at the 8th World Chinese Entrepreneur Convention in Seoul from October 10 and October 12. MB Tech introduced the Auto Positioning Flat Antenna to many Chinese business representatives as business operators and as individual consumers. The demonstrations spurred interest and opened discussion for business opportunities in China and South-East Asia.
MB Tech plans to be a global distributor of electronic components. MB Tech and its subsidiaries produce products for the DBS satellite industry and state of the art RF microwave and communications technologies with consumer and military applications.
MB Tech plans to serve the satellite television market as a provider of hardware and bundled solutions, and is expanding to serve the satellite radio and military hardware and solutions sectors. MB Tech manufactures, distributes and/or markets several proprietary solutions that differentiate it from competitors, including active and non-active auto-tracking (portable and stationary) flat antennas, mobile phased shift array antenna, marine antenna, and cell phone detection device.
MB Tech pioneered advancements like the dual-horn LNB, which allows multiple set-top boxes to be connected to a single satellite dish, enabling viewing of multiple channels simultaneously on different television monitors, and a tri-horn LNB, which provides the ability to download signals from multiple satellites over a single dish.
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The statements contained in this release and statements that the Company may make in connection with this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those forward-looking statements, as such statements involve risks and uncertainties that could significantly impact the Company's business and the actual outcome and results may differ materially.