CITY OF INDUSTRY, Calif., July 25, 2007 (PRIME NEWSWIRE) -- Global ePoint, Inc. (Pink Sheets:GEPT), a leading manufacturer of security technologies for the aviation, law enforcement, commercial and industrial markets, announced today that the Department of Transportation (DOT) has approved and returned the pending "Flight Deck Door Monitoring and Crew Discreet Alerting System" Rule to the Federal Aviation Administration (FAA) for final publication.
This rule-making has been in progress within the FAA since 2003, and was recommended by two committees formed shortly after (and in response to) the 9/11 attack on the World Trade Center. One committee was formed by the FAA and the other by the International Civil Aviation Organization (IACO). Both committees made basically the same suggestions, but only the IACO went forward with the final recommendation. The FAA estimates the final rule to be published for the National Register in the next 10 to 15 days.
Global AirWorks, a division of Global ePoint, developed its extremely secure Cockpit Door Surveillance System (CDSS) immediately after the initial recommendations were made. To date, Global AirWorks has installed its CDSS system for 25 airlines around the world -- with the largest customer being Lufthansa, for which 255 CDSS systems have been installed.
Daryl Gates, President and CEO of Global ePoint, expressed great enthusiasm for the publishing of this rule. "It has been a long time coming. I have on numerous occasions voiced my dissatisfaction over the inordinate amount time it has taken for the FAA and the Department of Transportation to publish this rule," he notes.
"Airlines outside of the United States are far ahead of us. There is a critical need for the pilots of passenger aircraft to be able to assess a problem within the cabin area without coming out of the cockpit," Gates adds. "While, to some degree, pilots can depend on experienced cabin personnel to make an accurate assessment...unless pilots can see the entire cabin area, there is no way to tell if the cabin crew is under duress. I do not think the flying public is aware of this shortcoming in passenger safety."
Global Airworks is one of only four companies that have FAA approval for the installation of the Cockpit Door Surveillance Systems. And upon issuance of this rule, the market for CDSS-type systems is estimated to be between 200 and 300 million dollars. Global AirWorks believes it will garner a significant share of that business due to its leadership position in being first with a viable system -- and its vast experience, with well over 700 CDSS system installations to date.
"This will be a major step in moving Global ePoint forward toward profitability," states CEO, Daryl Gates. "We have embarked on an ambitious plan to reduce overhead and to concentrate on only that part of our business that can produce sizeable income, both short- and long-term. This rule, when published by the FAA, will be a giant step in meeting our accelerated goals."
For more information: http://regs.dot.gov/rulemakings/200705/report.htm?type=html#5
About Global ePoint Aviation Division
The Company's Aviation division contains Global AirWorks, whose primary communications and security products include the Cockpit Door Surveillance System (CDSS), a digital electronic "flight bag" of all flight and on-board manuals and records for pilots, In Flight Entertainment products and Laptop Computer Power System for passengers and flight crews. AirWorks customers include airline major OEMs, such as AT&T Aviation, BAE Systems, L3 Communications, and Rockwell Collins; all major U.S. airlines; and all major international carriers, including ATA, Air China, Bombardier, Finnair, Varig, KLM, Lufthansa, and Cathay Pacific. AirWorks holds more than 40 supplemental type certificates (STC) certifying AirWorks as a Federal Aviation Administration (FAA)-approved manufacturer and installer for a range of interior equipment and systems for a variety of commercial aircraft flying worldwide.
About Global ePoint
Global ePoint designs, manufactures, sells and distributes digital video surveillance systems for the law enforcement, military, aviation and homeland security markets. On the cutting edge of digital technology, Global ePoint is developing new compression technologies and next-generation, secure network digital video systems and servers for a wide range of new markets, concentrating primarily on security and homeland defense applications. The Company also manufactures customized computing systems for industrial, business and consumer markets, as well as other specialized electronic products and systems. Complete vertical integration -- from design and manufacturing to sales and distribution -- allows the Company to capture efficiencies and maintain cost advantages in these growing markets, particularly homeland security. For more information, please visit http://www.globalepoint.com .
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, the Company's plans to (i) introduce cost cutting initiatives, (ii) conduct structural changes in its Tops Digital Technology division, (iii) conduct significant changes in the Company's executive management team, and (iv) obtain economic benefits from the aforementioned actions. Such forward-looking statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, (v) whether and when government mandates are implemented and individual decisions on the part of the world's airlines to install CDSS systems, (vi) whether significant cost savings will result from the planned strategic initiatives and other changes and whether those cost savings will accelerate Global ePoint's progress toward profitability, and (vii) the Company's ability to obtain additional working capital as and when needed. For a discussion of these and other factors that may cause actual events or results to differ from those projected, please refer to the Company's most recent annual report on Form 10-KSB and quarterly reports on Form 10-QSB, as well as other subsequent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.