Contact Information: Contact Information: Financial Contact: Janelle Conaway 1.800.429.3110 X 101 Investor Contact: Anthony A. Maher 1.800.429.3110 X 102 Web Site: www.edventures.com
PCS Edventures! Announces Commencement of Initial Phase of Project in Saudi Arabia
| Source: PCS Edventures!.com, Inc.
BOISE, ID--(Marketwire - December 16, 2008) - PCS Edventures! (OTCBB : PCSV ), which designs,
develops and markets educational learning labs and related products and
services to customers throughout the world, today announced that PCS Middle
East has received a purchase order to supply robotics and technology kits
for the initial 50 schools in accordance with the $3.3 billion (US),
six-year King Abdullah Education Initiative in the Kingdom of Saudi Arabia.
A professional development program around these kits that includes
University credit will commence for teachers from these sites on December
21st, 2008, with additional training programs scheduled for follow up in
January of 2009.
"We are very pleased to have PCS Middle East receive the order for the
first phase of our participation in the King Abdullah Education Initiative,
which is designed to benefit students at more than 22,000 schools over a
six-year period," stated Tony Maher, Chief Executive Officer of PCS. "While
we originally expected to begin shipping our products more than 18 months
ago, we are excited that the project has commenced in the last three months
and look forward to an expansion in the number of participating schools
during calendar 2009. The scope and size of this project is extremely
ambitious, which has caused understandable changes in schedules and
timelines.
"While we understand that PCS will be involved in the entire six-year
project, I urge our stockholders and the investment community to share our
caution regarding near-term revenue expectations, because the pace of the
initial roll-out schedule has been slower than we originally had been
informed."
About PCS Edventures!
PCS Edventures! is the recognized leader in the design, development and
delivery of products and services rich in technology, imagination,
innovation, and creativity that make learning easier, more engaging, and
more effective at all levels. Our product lines range from hands-on
learning labs in technology-rich subjects like engineering, science, math,
robotics, IT, and electronics. PCS programs operate in over 5,000 sites in
all 50 United States as well as in 17 countries internationally. Additional
information is at http://www.edventures.com
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Act of 1934. These forward-looking statements are based largely
on the expectations or forecasts of future events, can be affected by
inaccurate assumptions, and are subject to various business risks and known
and unknown uncertainties, a number of which are beyond the control of
management. Therefore, actual results could differ materially from the
forward-looking statements contained in this press release. A wide variety
of factors that may cause actual results to differ from the forward-looking
statements include, but are not limited to, the following: whether or not
the Company's expectations regarding its participation in the King Abdullah
Education Initiative are realized; the Company's ability to have its new
product offerings perform as planned or advertised; whether the Company
will continue to increase revenue and profits as forecast; its ability to
continue to expand its share of the market in the domestic and
international education communities; whether there will be a viable
commercial market, domestically and internationally, for one or more of its
new products; its ability to commercialize its products and production
processes, including increasing its capabilities to satisfy orders in a
cost-effective manner; whether the Company will be able to adapt its
technology to new and different uses, including being able to introduce new
products; competition from larger, more established companies with far
greater economic and human resources; its ability to attract and retain
customers and quality employees; its ability to obtain patent protection on
any of its products and, if obtained, to defend such intellectual property
rights; the effect of changing economic conditions; changes in government
regulations, tax rates and similar matters; and other risks discussed in
the Company's periodic filings with the Securities and Exchange Commission.
These cautionary statements should not be construed as exhaustive or as any
admission as to the adequacy of the Company's disclosures. The Company
cannot predict or determine after the fact what factors would cause actual
results to differ materially from those indicated by the forward-looking
statements or other statements. The reader should consider statements that
include the words "believes," "expects," "anticipates," "intends,"
"estimates," "plans," "projects," "should," or other expressions that are
predictions of or indicate future events or trends, to be uncertain and
forward-looking. The Company does not undertake to publicly update or
revise forward-looking statements, whether as a result of new information,
future events or otherwise. Additional information respecting factors that
could materially affect the Company and its operations are contained in its
annual report on Form 10-KSB for the year ended March 31, 2008 and Form
10-Q for the six months ended September 30, 2008 as filed with the
Securities and Exchange Commission.