The Company's CEO, Mr. WonSoo Chung, stated that, "We are very pleased with the stability and the capability of this initial release of the product and have made the decision to begin selling the product via our network of value-added resellers. The graffiti clean-up cost within the domestic US alone now exceeds $1.0 billion annually. Many municipal governments and businesses are including a budget for Graffiti detection, not just clean-up. Our product provides Axium with a leading position in the market to capture many of these planned expenditures."
The product is unique in its capabilities to detect tagger activity, record the event and notify authorities. Axium is currently working with their distributors to complete proposals, both domestically and internationally.
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 revenues are expected to reach $1.04 million, with revenues for 2007 presently projected to be $13.9 million, with net margins of approximately 33% of revenues.
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.
CONTACT INFORMATION Corporate Inquiries J. Steve Priester 954-480-9975 Email Contact
