TORONTO, Ontario and BAY CITY Mich., July 12, 2005 (PRIMEZONE) -- Wide E-Convergence Technologies Americas Corporation (WECTAC) advises that it is now listed on the US - OTC market under the trading symbol WDCVF (Pink Sheets:WDCVF)
Wide E-Convergence Technologies Americas Corporation (WECTAC) is a Bay City, Michigan, USA and Toronto, Ontario, Canada-based education infrastructure and training facilitation company focused on providing a premier, web-based interactive distance learning (IDL) platform to educational institutions, school boards, Fortune 1000 companies, and governments with which they can communicate, train, and educate their people across the country and worldwide.
The IDL market is a significant growth opportunity. The Company is largely driven by access to proprietary technology, which WECTAC has through its exclusive relationship with ETL.
The revenue model entails a one-time fee for installation of the core software modules. The fee is payable per installation/license and an annual fee is payable thereafter. WECTAC offers alternate programs for smaller companies to use the studio facilities to broadcast its training content via broadband rather than having the software and hardware installed within the company's private premises.
IDL offers a significant value proposition since studies have shown that learning occurs 50% faster when it is online and the cost of e-learning is up to 70% cheaper compared to classroom teaching.
WECTAC's platform is structured around modular learning by delivering as much information as needed, which allows trainees to study at their own pace and obtain immediate feedback on their progress. This is a highly scalable model since capacity can be easily added. Besides a capacity expansion can be brought about at a negligible cost on an IT platform as compared to the scaling being done physically.
-- E-learning is one of the fastest growing segments in the IT
industry, especially in North America. Leading industry analysts
say the IDL market size in North America is $12 billion, mainly
comprising the corporate training market, and new opportunities
are constantly emerging.
-- The US Department of Education is putting significant emphasis on
interactive distance learning, with some states already
earmarking a substantial budget for the same. However, the
existing opportunity is in the corporate training market, which
is especially lucrative.
-- There is also ample opportunity in the customized content market
and in web casting. WECTAC's offering is already receiving a
response from this marketplace.
About WECTAC
Wide E-Convergence Technologies Americas Corporation (WECTAC) (www.wectac.com) provides a powerful platform and consulting services for Interactive Distant Learning (IDL). We collaboratively work with corporate and institutional organizations to develop creative solutions for complex, multi-site locations. Our full range of software and services enable organizations and institutions to meet their e-learning needs, reduce travel expenses, offers customized just-in-time education programs, product launch programs, engage in real-time training and testing across many concurrent locations, and a more effective communication strategy. WECTAC's services are provided within our IDL, a Learning Management System (LMS) platform to better equip clients to make informed e-learning decisions. Through the integration of a proven technology platform, our clients effect positive change in the e-learning environment, directly reducing their training and travel budgets, customization of training and testing programs, efficiency delivery and organizational success.
Information presented in this release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "projects," "foresee," "expects," "will," "anticipates," "estimates," "believes," "understands" or that by statements indicating certain actions "may," "could," or "might" occur.