NEW YORK, March 26, 2003 (PRIMEZONE) -- T&G2 (OTCBB:TTGG) is a holding company for Zingo Sales Ltd. and Solutions Technology Inc. according to Waheed Hassan, CFA, in an Investrend Research Benchmark report. Zingo Sales primarily focuses on selling electronic bingo games, and Solutions Technology Inc. provides attendance management solutions.
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According to Hassan, "presently, Zingo is marketing fixed based units, which are to be followed by hand held units by mid 2003. Both fixed based and hand held units are based on proprietary software."
Assuming availability of sufficient capital, the management expects to install 100 units by the end of first quarter, 300 units by the end of the second quarter, 400 units by the end of the third quarter, and 500 units placed by the year-end. In terms of revenue per unit, the management expects to generate $15,000-$20,000/month for every 50 fixed base units, until it reaches 500 units.
He said that Solutions Technology manufactures and installs 'SecureTime Biometric Payroll ID Systems', which uses fingerprint technology to identify employees, calculate their hours and wages and display the hours on the screen instantly. "It includes a biometric reader along with self-contained computerized time clock, a data upload software and a dial-up modem, and is marketed as a replacement for traditional punch card and swipe cards systems.
"The SecureTime Biometric system primarily competes with traditional attendance maintenance systems like punch cards and electronic swipe cards. According to T&G's market research, punch card systems cost between $99 and $3000. However, unlike the SecureTime system, punch card machines tend to be stand-alone systems, without any link to the internal payroll system. Moreover, it doesn't allow for data backup.
By using fingerprint verification, 'Buddy Punching' is eliminated, thus saving as much as 2% of payroll," said Hassan.
Hassan stated that T&G2 plans to capture 2% of the U.S. market within the next five to seven years. Presently, he said, T&G2 has about seven SecureTime systems in operation with two paying accounts. "The remaining five units are expected to start paying once the trial period is over."
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Waheed Hassan, CFA is a member of AIMR. He worked as a senior research analyst at an affiliate of Merrill Lynch, Warburg Dillon Read, and Indosuez W.I. Carr Securities. He was rated amongst #1 Financial Sector research analysts in The Reuters Survey of Global Emerging Markets 1998. Similarly, he was a member of the #1 rated research team according to The Reuters Survey of Global Emerging Markets 1999 and Euromoney Awards for Excellence 2000. He got his MBA, with Beta Gamma Sigma honor membership, from Vanderbilt University in 2002.
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