EDMONTON, Alberta ? (BUSINESS WIRE)?May 3, 2000 ? Axion Spatial Imaging Inc. (Pink Sheets:AXON), a leader in display, distribution and manipulation of geographic information, today announced results for the first quarter of 2000, as well as arrangements for a private placement, the release of their 1999 audited financial statements, and progress on their Form 10-SB submission to the SEC.
Axion sales in the first quarter of 2000 showed an increase of 463% over the first quarter of 1999, and approximately 50% of the total sales for 1999. ?We are pleased with the progress made in the first quarter of 2000, following on a strong finish to 1999.? stated Ian Basford, President of Axion Spatial Imaging, Inc. ?These revenues came from contract work received and executed during this quarter.? In addition to these positive results, Axion has arranged a private placement for a total amount of US$60,000.
Axion has released its audited financial statements for 1999, which are available at the company?s website at www.axionspatial.com, or by contacting the company directly at (403) 270-3132.
The Company has received its first comment letter from the Securities and Exchange
Commission, concerning its Form 10-SB submission. ?Both our legal counsel and accounting firm are currently reviewing the questions and comments on the company?s submission, and have indicated that there are no major concerns?, indicated Markus Lemke, CEO of Axion Spatial Imaging, Inc. ?We are now responding to the questions and recommendations in the letter, and will re-file our submission as soon as all issues have been addressed?.
Axion?s ongoing growth strategy for 2000 and beyond will continue to be based on its main target markets of defense, resource management, asset tracking and management, and aviation.
Except for the historical information presented herein, the matters set forth in this press release are forward looking statements within the meaning of the ``safe-harbor'' provision of the Private Securities Litigation reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements. Axion Spatial Imaging is a registered trademark of Axion Spatial Imaging, Inc. All other names and trademarks mentioned above are held by their respective owners and hereby acknowledged.
For further information, contact:
Markus Lemke
CEO, Axion Spatial Imaging Inc.
Ph. (403) 270-3132/Fax:(780) 423-4468
Email: markusl@axionspatial.com
www.axionspatial.com |
