PRESS RELEASE
IVS CLARIFIES BUSINESS ISSUES
The business contract with QLD Corporation of California (announced previously) for the supply of Customized Technology, continues to progress toward fulfillment. The business relationship in its present form is structured for annual renewal, with anticipated gross revenues to IVS in the six to seven million dollars (CDN) range annually. To the extent of our mutual benefit, it is our intent to assist QLD in every way possible, via our technology, support in the growth of their market base, and customer satisfaction.
As announced in previous news releases IVS now operates independently of McCarney Technologies Inc. (MTI), with whom IVS has a license agreement to market certain MTI technology. Although independent of each other IVS and MTI continue to cooperate, and to develop mutual business opportunities. At this time, each Company is separately
engaged in discussions with several large corporations, with plans that hold significant promise for all parties. (Confidentiality Agreements prohibit further disclosure at this stage.)
In addition to the market opportunities provided by the licensed technology, IVS has proprietary rights to a technology known as "SMARTLINK". Smartlink is a flexible,
multiuse "platform" communication controller device. It is wireless, and permits attachment of a variety of peripheral devices to suit the customers needs. For example
Smartlink can be adapted for use as a base/integration platform, to convey vehicle diagnostic data to remote base stations via cellular phone, and it supports anti-theft
technology (which is of keen interest to fleet operators, and insurance companies). It can also accommodate Global Positioning Systems. IVS firmly believes that Smartlink
broadens our market capabilities, and we fully intend to reach these new markets in the coming months.
As demonstrated with Smartlink, it is important to remember that IVS is a company with flexible products that appeal to multiple markets. Our products can readily be
reconfigured and adapted to emerging, and customized needs. The major and ongoing core business focus for IVS is the automobile and light truck repair market, with well
over 350,000 automotive repair facilities, and approximately 24,000 automotive dealer outlets in the USA. It is easy to see the immense opportunities that exist for our Company.
IVS, through its exclusively licensed product "SNAPSHOT", still has the cutting edge diagnostic system for auto repair. To the best of our knowledge, which we constantly update, no other system can outperform or even match our technology! It has been called "state-of-the-art" by industry observers in the past, and this statement appears
to still apply.
A further business opportunity for IVS exists in the field known as Emission Testing or
"Air Care", a well recognised phrase for the residents of Greater Vancouver. This
industry is of such a tremendous size, that even if IVS had no other business, it would become a success by its involvement in this area alone. The key to competence in
Emission Testing of vehicles is complete coverage i.e. a real time, fast, accurate and reliable engine performance diagnostic system. This is exactly what we have, with
"SNAPSHOT". With our previous experience in Emission Testing as a reference, and a newly updated system soon to be available, we are fully confident that IVS will achieve a
prominent position in this sphere. As new "Air Care" standards become law on January 1 st 2001, in the USA, all States will be compelled to comply with this legislation. IVS is currently engaged in discussions and planning with several major US Corporations who in turn intend to compete as suppliers to all emission testing enterprises. IVS is extremely pleased that it will be able to supply "state-of-the-art" technology in support of the
important environmental and social concerns connected to clean air legislation. The limited time frame for allowing corporations to participate in this venture is serving as a
powerful incentive, which in turn will serve to drive our business forward.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dr. E Tony Stickel"
Dr. E. Tony Stickel. President and Chairman.
The Company is listed in the Standard and Poor?s Corporation Records Manual
___________________
The Canadian Venture Exchange has not reviewed, nor accepts responsibility for the
adequacy or accuracy of this news release |
