COLORADO SPRINGS, Colo., April 26, 2004 (PRIMEZONE) -- Maximum Dynamics, Inc. (OTCBB:MXDY), a projects management and back office services company with subsidiaries focused on technology solutions, mobile logistics and wireless communications, announced today that it has signed a Memorandum Of Understanding (MOU) with a consortium led by technology and health care industry experts to start a new medical products company based on TagNet, Maximum's real time tracking technology.
The consortium is led by Mr. Blum Khan, the CEO of Metropolitan Health Group, and Sooren Ramdenee, one of the founders of Freecom Group ("Freecom"). The consortium has provided the software and hardware design groups for the designing of a new product that requires the technology of TagNet. The details of the application and product are being kept confidential until the product launch, which is expected in approximately five months.
Freecom initially got involved with Maximum by supplying the computers for many of Maximum's education projects being launched in several schools, rural areas and townships of South Africa. Soon thereafter, Freecom was appointed as a project partner for TagNet and M.POS projects in Kenya and Rwanda. As a result of Freecom's involvement with TagNet, Mr. Ramdenee saw an application in the medical industry for TagNet that solves some critical problems presented to him in previous conversations with Mr. Khan.
"TagNet is stimulating incredible demand," said Eric Majors, Maximum's CEO. "We are getting a lot of calls requesting demonstrations of TagNet in every region where we are doing business. We are very excited about the product being developed and the fact that this group put an entire package together and the needed resources to launch it at no cost to Maximum."
In the agreement, the new company being formed shall have the exclusive rights for the use of TagNet technology in the development of applications for the medical field environments. The exclusivity is performance based and limited to the African continent. In exchange for these rights, Maximum will receive a 25% equity stake in the new company.
TagNet is a unique cost effective solution developed by TagNet International, an 89% owned subsidiary of Maximum. TagNet's team of experienced engineers and professionals have been in the mobile logistics business since 1985 and have developed solutions to some of the problems of logistics tracking that many companies are still struggling to overcome. "The technology of TagNet is ideal for this type of application," added Majors. "There are complex communications algorithms that are required in order to make the system work, which TagNet designed several years ago."
For more information on Maximum Dynamics, visit the company's website at http://www.maximumdynamics.com
For more information on Blum Khan and Metropolitan Health Group, visit the company's website at
For more information on Freecom, visit the company's website at http://www.freecomgroup.com.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. Maximum Dynamics assumes no obligation to update the information contained in this press release. Maximum Dynamics' future results may be affected by its ability to continue to implement its hedge fund administration services, its newly acquired Internet marketing capabilities, its dependence on procuring highly competitive hedge fund administration contracts, its dependence on hiring and retaining qualified professionals, potential fluctuations in its quarterly operating results, its dependence on certain key employees and its ability to timely and effectively integrate the businesses it may acquire.