SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
May 21, 2003
Date of Report
(Date of Earliest Event Reported)
TELKONET, INC.
(formerly known as Comstock Coal Company, Inc.)
(Exact Name of Registrant as Specified in its Charter)
902-A Commerce Road
Annapolis, Maryland 21401
(Address of principal executive offices)
410/897-5900
Registrant's telephone number
Utah 87-0627421
(State of Incorporation) (IRS Employer Identification No.)
ITEM 5. Other Events
The following press release was issued to announce the letter to the
shareholders of the company.
SIGNATURE
In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
MAY 21, 2003 TELKONET, INC.
/s/ Stephen Sadle
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Stephen Sadle,
Chief Operating Officer
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TELKONET'S UPDATE LETTER TO SHAREHOLDERS
FOR IMMEDIATE RELEASE:
Contact: TELKONET, INC. INVESTORS STOCK DAILY, INC.
Stephen Sadle, Chief Operating Officer Jody Janson
410-897-5900 585-454-6950 Ext. 102
ssadle@telkonet.com jody@investorsstockdaily.com
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ANNAPOLIS, MD-MAY 21, 2003 - TELKONET, INC. (OTCBB: TLKO) a leader in Powerline
Communications (PLC) for the commercial market, today published the following
letter to their shareholders:
Dear Shareholders,
This is a very exciting time for our Company, and we are pleased to
provide our shareholders with an update of corporate activities.
Last December we decided to commence product manufacturing and
simultaneously go-to-market with the PlugPlusInternet(TM) high-speed Internet
solution for hotels. We targeted late April/May for product availability and
regulatory approval to coincide with a sales initiative that would result in
actual installations in hotels by June.
We are pleased to report success on both fronts. The product is
regulatory compliant and in production in time for June installations and
hundreds of hotels have requested contract proposals. We are moving forward to
formalize contracts with hotels requesting our PlugPlusInternet(TM) solution.
Our next target market priority is the Multiple Dwelling Unit (MDU-
rental apartments) space. As with the hotel industry, Telkonet has now deployed
a trial where 32 apartments in one complex have been supplied high-speed
Internet via the Telkonet solution. The trial site is running very well and we
are focused on providing a MDU product that is both regulatory compliant and in
production within the next few months. Again the plan is to begin marketing to
coincide with production.
We are presently exploring opportunities within the Government/ Military sector
based upon expressed interest in our PlugPlusInternet(TM) solution and
initiatives are underway to identify and deploy a trial installation.
We have received calls from our shareholders asking when Telkonet is planning to
demonstrate our product internationally. We strongly believe that our solution
will have great benefit for the global counterparts of our domestic market. Our
PlugPlusInternet(TM) solution is designed to work on three phase electrical
systems as required internationally. We plan to get good traction in each of our
targeted markets in North America and then transfer demonstrated success to
markets away from home. Patience is a virtue.
Stay tuned for further updates, and thank you for your support.
The Wires Are Waiting!
Warren V. (Pete) Musser Ronald W. Pickett
Chairman President
Statements included in this release may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
statements involve a number of risks and uncertainties such as competitive
factors, technological development, market demand and the Company's ability to
obtain new contracts and accurately estimate net revenues due to variability in
size, scope and duration of projects, and internal issues in the sponsoring
client. Further information on potential factors that could affect the Company's
financial results, can be found in the Company's Registration Statement and in
its Reports on Forms 8-K filed with the Securities and Exchange Commission
(SEC).
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