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biz.yahoo.com
Wednesday March 1, 4:48 pm Eastern Time
Company Press Release
SOURCE: Sonic Systems Corporation
Newly Appointed Chairman and C.E.O. Mark Godsy Outlines Company's
Plans
BELLEVUE, Wash., March 1, 2000 (PRIMEZONE) -- In his first public action since being appointed Chairman and CEO of Sonic Systems Corporation
(NQB:ZSON) on February 23, 2000, company founder Mark Godsy outlined the exciting directions and growth opportunities going forward. Upon his acceptance
of the position, Mr. Godsy made the following statement:
``The Company is in the process of transforming itself from an acoustic based signal preemption company to now include products that use the Internet to provide
wireless data solutions for specialized applications. While the Company will continue to focus on the very important transportation and traffic sectors, we hope to
expand our business to include wireless solutions for other industries.
``By way of background, wireless Internet Protocol or IP is state-of-the-art technology using 'cellular digital packet data`` (CDPD) enabling the movement of
packets of information over the wireless cellular network. An IP enables information to be accessed through the Internet. The convergence of wireless data
technology and the Internet, via a wireless IP, for real-world applications is still in its infancy, but will transform the way many industry sectors operate in the next few
years.
``To date, the primary focus of wireless IP has been on the development of wireless modems, or 'cards,`` that enable wireless access to the Internet for mobile
professionals. The Company is taking this cutting edge technology even further. Sonic Systems is introducing to the market wireless data technology that extends the
application capabilities of existing wireless modems so that they can remotely gather and control information for critical large-scale commercial and industrial
applications. This product adds sophisticated hardware and software to the world-class wireless modems made by technology leader Sierra Wireless, thus creating a
new enhanced card that can interface with large computer data networks, such as those used to operate major industrial processes, municipal engineering operations
and utilities. Sonic Systems' cards provide these networks with faster, less expensive and far more comprehensive connectivity and information control.
``The first application of the company's technology is in the $100 million traffic control market, which is just one sector of the projected $400 billion Intelligent
Transportation System market that the company plans to address. Approximately half of North America's intersections are connected by telephone wires and the
rest are not connected at all. Using the Company's card, which has been designed to meet the specifications for all North American traffic controllers, traffic
engineers can instantly communicate with intersection control devices to coordinate the flow of traffic, manage emergencies and correct traffic light failures more
quickly and effectively than ever before. The cards are significantly less expensive to operate than wired telephone service, cannot be disrupted by downed lines, and
their advanced technology provides much more elaborate communications capabilities than traditional wired devices, on an around-the-clock basis.
``The first version of the wireless card has been designed specifically for traffic controllers, and will be taken to market through master distribution arrangements by
the leading manufacturers of traffic controllers and sold through their network of local distributors. The City of Los Angeles has been evaluating units for several
months.
``The same product has many potential applications in other transportation-related applications, such as variable message traffic signs, traffic counters, freeway ramp
meters, transit information signs and lane control signals. Some of these applications already have products under evaluation. The Company intends to expand
marketing efforts to address these markets during the first part of this year.
``Sonic Systems initiatives moving forward include: exploiting the experience and contacts we have established in the traffic control industry, then expanding
penetration into related transportation applications, followed by expansion into additional market segments. In parallel, the Company intends to enhance and expand
its technology through development and acquisitions. Products will be sold through marketing partners who are leaders in their field, and manufacturing will be
subcontracted to specialists.
``In conjunction with transportation market development, the Company is investigating several other vertical market segments where the current wireless product, or
variations of it, will fit. Among the verticals are POS (point of sale), cargo security and industrial controls. In each segment, the Company intends to repeat its traffic
strategy: identify a specific application within a market; establish strategic partnerships with market-leading suppliers of complementary products; modify the product
to exactly suit the demands of the first application; and then expand the applications served in that market.
``Operationally in 2000, the Company will continue to strengthen its management team and build improved systems for management information, quality, and product
development. The Company is also actively seeking acquisition targets that will strengthen its technology and customer base, add depth of personnel, and increase
both sales and shareholder value.
``We have reserved a new name for the Company, that management believes more accurately describes our business as we move forward, Unity Wireless
Corporation. While we will commence doing business under this name immediately, the corporate name will remain Sonic Systems Corporation until the name
change is approved by the shareholders, most likely at the Company's AGM, anticipated to be held in the second quarter 2000.
``We would like to take this opportunity to thank shareholders for their confidence and support while the Company's management team continues building
shareholder value. We are very enthusiastic about the Company's future.'
On behalf of Sonic Systems Corporation,
Mark Godsy, Chairman, CEO
Sonic Systems Corporation of Delaware is a multi-faceted provider of wireless and acoustic technologies to the Computing, Communications, and Intelligent
Transportation Systems (ITS) industries in support of enhanced communication and safety applications.
Certain information included in this news release, as well as information included in oral statements or other written statements made or to be made by Sonic
Systems, contain statements that are forward-looking. Such statements relate to the future anticipated direction of the wireless industry, plans for future expansion,
various business development activities, planned capital expenditures, anticipated sales growth and potential contracts. These forward-looking statements are subject
to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
Note: Sonic Systems, a Delaware corporation with offices in Bellevue, WA, is in no way affiliated with SonicWall, Inc. (formerly Sonic Systems, Inc.), a California
corporation with headquarters in Santa Clara, California, which provides Internet security solutions. |
