OMAHA, Neb., Nov. 8, 2006 (PRIMEZONE) -- Coastal Technologies, Inc. (Pink Sheets:CTTJ) (the "Company"), a public-traded company, today announced the acquisition of a facility in Hilliard, Ohio for use as an application service provider (ASP). The facility was acquired through a previously announced alliance with Ideal Investments, a commercial real estate investment company. The facility is designed to provide off site storage and data back-up for file server customers. The Company will use the facility as an ASP. As an ASP, the Company will provide computer-based services to customers over a network. Software offered using an ASP model is also sometimes called On-demand software. The most limited sense of this business is that of providing access to a particular application program (such as medical billing) using a standard protocol such as HTTP.
The need for ASPs has evolved from the increasing costs of specialized software that have far exceeded the price range of small to medium sized businesses. The growing complexities of software have led to huge costs in distributing the software to end-users. Through ASPs, the complexities and costs of such software can be cut down. In addition, the issues of upgrading have been eliminated from the end-firm by placing the onus on the ASP to maintain up-to-date services, 24 x 7 technical support, physical and electronic security and in-built support for Business Continuity and Flexible Working.
The recent acquisition of Goldman & Goldman requires the expansion of the Company's facilities. Goldman & Goldman's focus is providing billing service to Chiropractors. Robin D. Moody, CEO of the Company stated, "Our marketing analysis indicating that in order to service the Chiropractor marketplace we needed to be prepared to provide services under an ASP model. This will allow us to signup and service more offices in a shorter period of time."
Coastal Technologies is a leading, full service Information Technology (IT) consulting firm and custom software developer. Coastal Technologies leverages its staff to create cost effective IT solutions and provide true end-to-end total business infrastructure integration. The Company's comprehensive service offerings range from project related consulting to full IT outsourcing, and all critical needs in between.
Forward-Looking Statements: Investors are cautioned that certain statements contained in this document are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects" and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future Coastal Technologies actions, which may be provided by management, are also forward-looking statements as defined by the act. These statements are not guarantees of future performance.