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
October 6, 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 recent events of the
company.
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TELKONET EXPANDS BOARD OF DIRECTORS
APPOINTS TWO OUTSIDE DIRECTORS
Annapolis, Md. - Telkonet, Inc. (OTCBB: TLKO - News), the leader in Commercial
Powerline Communications over existing electrical wiring, today announced the
expansion Company's of the Board of Directors to include two outside Directors
Mr. Thomas C. Lynch and Mr. Daniel L. McGinnis, who will serve on the Board as
well as members of the Audit Committee until the next annual shareholders
meeting.
Ronald W. Pickett, President of Telkonet stated, " As our Company continues to
grow and develop it is imperative for us to search out the very finest talent
and experience available to help guide Telkonet to greater heights. Thomas Lynch
and Daniel McGinnis both have impressive business and previous board experience
and I am proud to have them joining our Board and I look forward the working
with them".
Thomas C. Lynch is Senior Vice President, Director of The Staubach Company's
Federal Sector in the Washington, DC area. Tom joined The Staubach Company after
6 years as Senior Vice President at Safeguard Scientifics, Inc. (NYSE: SFE).
While at Safeguard, he served nearly two years as President and Chief Operating
Officer at CompuCom Systems (CMPC), a Safeguard subsidiary company. After a
31-year career of naval service he retired in the rank of Rear Admiral. Tom's
Naval service included Chief, Navy Legislative Affairs, command of the
Eisenhower Battle Group during Operation Desert Shield, Superintendent of the US
Naval Academy from 1991 to 1994 and Director of the Navy Staff in the Pentagon
from 1994 to 1995.
Tom serves as a Director on the following boards: Pennsylvania Eastern
Technology Council, Sanchez Computer Associates, Armed Forces Benefit
Association, Catholic Leadership Institute, National Center for the American
Revolution at Valley Forge and Mikros Systems. He has served as President of
Valley Forge Historical Society and Chairman of the Cradle of Liberty Council,
Boy Scouts of America. He currently serves as a trustee of the US Naval Academy
Foundation.
Daniel L. McGinnis's served as President and CEO of SOTAS, Inc. an international
developer and seller of operational support systems for telephone companies.
Customers include Verizon, BellSouth, WorldCom, Williams, Interoute, T-Mobile,
Telus, British Telecom, Korea Telecom and others. Senior Vice President for the
Network Enhancing Technologies Solutions division of Tellabs, Inc. an
international developer of network transport equipment for the telephone
companies. CEO, President and Chief Operating Officer of Coherent Communications
Systems Corp., an international developer and seller of echo cancellation
equipment for telephone companies. Coherent became a public company in 1995 and
was acquired by Tellabs in 1998 for $1.2 billion.
Dan's present and past Board experience includes: Atlantic Coast Airlines
Holdings, Inc., SOTAS, Inc., Western Loudon Hospital Center Development Team,
Northern Virginia Roundtable, George Washington University- VA. Campus, Baird
Venture Partners, Washington Airports Task Force, The George C. Marshall
International Center, Loudon HealthCare, Inc., COHPAC (Australia), Coherent
Communications Systems, Ltd.
Telkonet's PlugPlusInternet(TM) products deliver high-speed Internet access over
standard electrical wiring, eliminating the need to rewire a building and
enabling users to access the Internet from virtually any electrical outlet.
Telkonet's products provide connectivity over existing electrical wiring and do
not require the costly installation of additional wiring, or major disruption of
business activity. In many situations, the Telkonet system can be implemented
more quickly and less expensively than adding dedicated wiring or installing a
wireless system.
The Telkonet PlugPlusInternet family of Internet access products offers a viable
and cost-effective alternative to the challenges of hardwiring and wireless
local area networks (LANs). Telkonet PlugPlusInternet products are designed for
use in commercial and residential applications, including multi-dwelling units
and the hospitality and government markets.
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).