Sorry maybe this will help.
JAWS Technologies awarded $4 million dollar contract from E-financial depot for development of total security solution
CALGARY, March 27 /CNW/ - JAWS Technologies Inc. (JAWZ: OTC-BB) is
pleased to announce today that it was awarded a $4 million contract from
e-financialdepot.com (FDPO: OTC:BB) of Century City, California for the total
integration of a secure e-commerce platform. JAWS Technologies will be
integrally involved in the launch of e-financialdepot.com, a total solutions
site for consumers of financial products and services, including stock
trading, on-line banking and mortgage lending, insurance, financial planning
and investor and broker education.
Over the next 6 to 9 months, JAWS expects to generate revenue in the
range of US$1.5 to $2.4 million directly resulting from the contract with
e-financialdepot.com. "This is the largest contract to date for JAWS, and we
are very excited about leading this project. A notable highlight of this
contract is that JAWS will integrate security into the forefront of this
client's e-commerce strategy and system architecture, rather than by doing it
after the website and e-commerce platform have already been developed," said
Robert Kubbernus, Chairman and CEO, JAWS Technologies. "With the brand
degradation that many on-line financial services companies have faced because
of security breaches, we believe that e-financialdepot.com is being highly
proactive in integrating security into the architectural design of their
systems."
Kubbernus also commented, "this project has been in development since
early in the 4th Quarter of 1999--similar to the status of several other
contracts of this magnitude. Due to budget and technical issues surrounding
the Y2K issue, we found that many clients chose to defer integration of new
security architecture until the Y2K problem passed. Now Y2K is behind us and
security has certainly become a well-recognized enabler to
Business-to-Business and Business-to-Consumer e-commerce. As a result of these
trends, JAWS is well positioned to capitalize on additional leading-edge
opportunities."
It is anticipated that e-financialdepot.com will utilize JAWS security
assessment services, network design and implementation, 24 x 7 security
monitoring, security products including XMAIL and the soon-to-be released
Gateway server product, proprietary security system development and JAWS
Secure Network Storage. The contract also includes on-going maintenance and
support, estimated to be approximately $1.6 million annually.
John Huguet, President and CEO, e-financialdepot.com, stated "we see that
our partnership with JAWS Technologies will allow our full services
e-financial portal to flourish through the unique differentiation strategy of
incorporating systems that are not only secure, but also robust and
easy-to-use. In offering a multitude of financial services, we know that among
the biggest concerns of Internet users are reliability, privacy and security.
We are confident that with JAWS behind us, we are launching
e-financialdepot.com to incorporate best of breed technologies and we are
confident that their end-to-end approach to security is the best available on
the market."
About e-financialdepot.com
E financial depot.com, Inc. is an Internet financial portal, offering a
full spectrum of financial services and investment information on the World
Wide Web. The Company is developing a proprietary information system
consisting of integrated financial Web pages and featuring an online
investment-related community called Talk-Stock.com. The new site is currently
under development and is expected to launch towards the end of the first
quarter of 2000. Talk-Stock.com began in 1997 as an online financial public
relations firm, utilizing a combination of retail and proprietary technology
to conduct radio and TV on-line broadcasts. Through Talk-Stock.com.,
(www.talk-stock.com.) the Company has an established virtual community of
nearly 550,000 investors, stockbrokers and analysts. Preparing for the risks
of investing continues to be the focus of the educational content.
About JAWS Technologies: "Information is Power. Protect It."
JAWS Technologies is a leader in secure information management solutions
including security software products, consulting services and secure Internet
and remote data storage services for key client groups including governments,
law enforcement, healthcare, legal and accounting, financial services,
e-commerce, internet service providers and application service providers.
JAWS' western business unit is in Calgary, Canada, its eastern business unit
is located in Toronto, Canada, and the company has offices in New Jersey and
California. JAWS has over one hundred employees, twenty five strategic
partners, approximately 100 corporate clients, over 300 authorized re-sellers
and has distributed approximately 580,000 copies of JAWS XMAIL, a secure
messaging email software program. JAWS Technologies is traded on the NASD-OTC
BB, under the symbol JAWZ. For more information, visit the company's website
at www.jawstech.com or call 1-888-301-5297.
Forward-looking statements and comments in this press release are made
pursuant to safe harbor provisions of the Securities Exchange Act of 1934.
Such statements relating to, among other things, the prospects for the
companies to complete the transaction and enhance operating results, are
necessarily subject to risks and uncertainties, some of which are significant
in scope and nature. These risks may be further discussed in periodic reports
and registration statements to be filed by the Companies from time to time
with the Securities and Exchange Commission in the future. |
