PASADENA, Calif., Dec. 14, 2006 (PRIME NEWSWIRE) -- Axium Technologies, Inc. (Pink Sheets:AXGI) is pleased to announce that it has entered the Latin American market by signing a Partnership Agreement with the Finger Access in Chile. Finger Access, the subsidiary of Parquimetros S.A., has been in the security business for more than 7 years. Parquimetros S.A owns more than 90 percent of Chilean government parking structures and through Finger Access they plan to deploy Axium's products and solutions in many of their properties. The first project both companies will undertake will be to install mobile surveillance systems in trucks, enabling a central control centre location to monitor their fleet in real time through a wireless network.
Mr. Terry Oh, Axium's vice president in charge of market planning & support, explains: "It is a very interesting project as we can see huge potential for application of this technology everywhere. Chile will be an excellent test for the mobile surveillance solution developed by Axium and Finger Access. Axium plans to use the same solution in the U.S market as soon as the Chilean project is completed."
According to the Agreement, Axium will supply software solutions and digitalized surveillance products to Finger Access on a non-exclusive basis. The first year minimum purchase guarantee by Finger Access was set at $ 300,000. "It will be a drop in a bucket," said Mr. Erick Maluenda, General Manager of Finger Access and continued to say "We expect much more sales revenue than the amount we put in our Agreement. But, we realize both companies are at starting line, and we prefer to move very conservatively. That's the reason why we committed to a minimum amount. However, based on the technology and experience Axium has, Finger Access is very confident to snowball our sales in Chile in a very short period of time. Our market is not limited to Chile. And we expect to deploy this solution and others through our excellent business connections in Brazil and Argentina as well. A lot of technology oriented companies have been using Chile as their test market, largely because Chile has an excellent network infrastructure and the most stabilized economy in Latin America."
Finger Access also plans to deploy the Axium license plate recognition product in many locations as a part of the joint initiative. This product was developed to not only act as a surveillance tool, but also a means to assist in revenue collection activities.
ABOUT AXIUM TECHNOLOGIES INC.
Axium Technologies, Inc. is a leading provider in surveillance security systems software and hardware. The company maintains its corporate presence in Pasadena, CA and its Research and Development Facility in South Korea.
The Company's primary products include MAXIMUM Surveillance Software, which is the key solution providing interoperability for numerous digitalized security and surveillance products from diverse manufacturers. The Company's Digital Video Recorders (DVRs) and Network Video Products (NVPs) are targeted at the Security and Surveillance segment of the gaming industry. The Company's newest product "Tagger Trap" is a state of the art graffiti detection product which detects and alarms local police of graffiti activity. The estimated cost of graffiti clean-up in North America is projected at $1.0 billion annually. Millions of dollars have been budgeted in the past year by large metro police departments to detect and apprehend graffiti taggers.
During 2006, Axium Technologies redeployed much of their resources, both fiscal and headcount, to complete development of its current suite of products. In doing so, its 2006 revenue projections are $1.04 million, with revenues for 2007 projected to be $8.8 million, with gross margins of approximately 57% of revenues.
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FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the Security and Surveillance industry; the positioning of Axium products in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether Axium Technologies can successfully develop new products and the degree to which these products gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.