COLORADO SPRINGS, Colo., Nov. 22, 2004 (PRIMEZONE) -- Maximum Dynamics, Inc. (OTCBB:MXDY) announced today that its 89% owned subsidiary Tagnet International has demonstrated its technology to a contractor for a major transportation company in South Africa. The contractor tested the solution against technical requirements it has for its contract with the transportation company as well as certain other projects where it would like to utilize the Tagnet solution.
After testing and evaluating the technology in a simulated working environment, the contractor delivered to Tagnet a technical report in which it specifies that Tagnet's solution meets its technical requirements. The contractor has also submitted its recommendation to the transportation company that Tagnet's solution be used for the project. The contractor is now scheduling a proof of concept demonstration of Tagnet's solution with the transportation company.
Acceptance of this proof of concept will lead to an eight week scoping and customization phase that is aimed at successfully showing the solution working in the customer's environment. The solution must be able to monitor in real-time the location of moving stock and transport vehicles, decrease cargo shrinkage through tracking, and improve shipping efficiencies.
Successful implementation of this phase will lead to Tagnet being awarded a subcontractor role for this contract with the transportation company. The revenue value of the proposed subcontract for Tagnet would be approximately US$20 million over the first eighteen months of the project. To protect Tagnet's interest in the subcontract, the names of the contractor and transportation company will be kept confidential until the scoping and customization phase is underway.
Tagnet is a provider of solutions designed for the real-time management of mobile assets and data utilizing the latest in RFID technology, cellular communications and electronic tagging. While its solutions can be customized for virtually any business, the primary targets for Tagnet's solutions are the mobile logistics, security, and fleet management sectors. Tagnet utilizes tag readers, computing modules and tags to provide a full mobile logistics system.
"We have been gearing up for several pilots and demonstrations and this is the one that has been at the top of our list," said Johannes Clausen, Managing Director for Tagnet. "We were really pleased to see that not only was the contractor pleased with the technical capabilities of our solution for this contract but that they are eager to look at utilizing Tagnet for other projects as well. They have some exciting projects related to other mobile cargo monitoring needs within the transportation market. We are very pleased with this successful demonstration of the proof of concept to the contractor and their favorable independent technology report."
Maximum Dynamics acquired 89% of Tagnet International in October 2003 and has been funding the commercialization and development of the Tagnet product and service offering since then. Maximum Dynamics is headquartered in Colorado Springs, Colorado and has an international operations center in Cape Town, South Africa. It also has offices in Mexico City, Mexico, Copenhagen, Denmark, and Hong Kong.
For more information on Tagnet International, visit the company's website at http://www.tagnet-international.com.
For more information on Maximum Dynamics, visit the company's website at http://www.maximumdynamics.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 provide solutions for its projects on which it currently works; its acquired real-time tracking technology; its acquired distribution rights for mobile point of sale solutions and other technology solutions it utilizes to service its projects; its dependence on procuring highly competitive logistics, point of sale, banking and energy 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.