TUCSON, Ariz., Sept. 9, 2003 (PRIMEZONE) -- Environmental Technologies Inc. (Pink Sheets:EMTI) is pleased to announce that the building of prototypes for its Gadget Finder and Kinder Finder is nearing completion, following which the devices will undergo independent testing this fall.
The Company is engaged in discussions with several recognized testing/engineering firms and expects to enter into an agreement by month-end whereby formal testing will be carried out preparatory to the commencement of production design and engineering.
Gadget Finder -- represents an inexpensive way to prevent the loss or theft of portable electronic gadgets such as cell phones, PDAs, laptops, CD players, etc. The device, which encompasses leading-edge GPS, wireless, and RFID technology, allows the owner to instantly locate the missing device using a pocket-held wireless unit. As well, an audible beep will alert the owner whenever the device reaches a stipulated distance (i.e., 30 feet) from the owner.
Kinder Finder -- consists of a tiny device hidden on a child's person that will allow the parent to pinpoint the location of that child to within 1,000 square feet anywhere in the world at any time. If a parent and child get separated in public, the parent can immediately determine, from a pocket-held unit or medallion, the direction in which the child has wandered off, and the distance to the child.
Environmental Technologies products currently being developed for specific market applications include short and long-range detection devices that can be hidden in clothing, or on valuables, and that will emit signals to loved ones or owners of articles. The technology provides a capability that is ideal for families living in fear of their children being kidnapped, or of having elderly family members, suffering from dementia or any other form of memory loss, wander off aimlessly without their loved one's knowledge. Alarmingly, kidnapping in North America has risen to an all-time high of over 800 persons per day! Another promising application, "Find-A-Shipment", will enable real-time tracking and up-to the-minute delivery progress for shippers needing to maximize their just-in-time delivery service. The Company also announced recently that it is pursuing the introduction of an embedded device in credit cards, passports, etc., that will pinpoint the location of lost or stolen cards in real time. We believe that our product range admirably addresses these growing security needs, and that the marketplace will enthusiastically receive them as they are introduced.
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The statements made in this press release, which are not historical facts, contains forward-looking statements concerning potential developments affecting the business, prospects, financial conditions and other aspects of the company to which this release pertains. The actual results of the specific items described in the release, and the company's operations generally, may differ materially from what is projected in such forward- looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.