MONTREAL, Sept. 8, 2006 (PRIMEZONE) -- AbsoluteSKY, Inc. (Pink Sheets:ABSY), developer of item-level RFID inventory tracking systems for specialty retail, today provided an update of its business prospects for the coming year. Along with its two North American channel resellers, Fujitsu Transaction Solutions and Universal Surveillance Systems, the Company is bullish on its financial goals as recently announced.
As reported by John Frabasile, President and CEO, "We are actively discussing installations with four major retailers and should be in a position to start announcing this progress shortly. In addition, there are other important strategic agreements being finalized which should be made public this month."
These retailers, along with the Channel resellers have commended AbsoluteSKY for being what appears to be first-to-market with a product suite that provides retailers with real-time inventory tracking. The ROI (return-on-investment) analysis being conducted points to rapid payback and several tangible benefits including drastic reductions in missed sales, improved inventory turns, as well as real-time control and dramatic reduction in loss prevention. Naturally there are substantial labor savings giving the retailer the flexibility to redeploy labor to the selling floor.
About AbsoluteSKY, Inc.
AbsoluteSKY, Inc. (Pink Sheets:ABSY) specializes in the design, development and implementation of Radio Frequency IDentification (RFID) technology that provides real-time item-level inventory tracking for retail customers. Based in Montreal, Canada, the Company's business model combines strategic, creative and technical skills to deliver solutions that help its clients achieve their business objectives through the use of AbsoluteSKY's breakthrough technology and extensive knowledge of their business operations. For more information visit: www.AbsoluteSKY.ca.
AbsoluteSKY's Safe Harbor Statement
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this release may be identified through the use of such words as "expects," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might," occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.