I don't understand this GSA stuff at all, but it looks like FROG will get a cut from Micron's Crucial Tech sales to the governement?
Wednesday June 28, 9:55 am Eastern Time
Company Press Release
Leapfrog Smart Products Signs Government Agent Agreement with Micron Semiconductor Products, Crucial Technology Division
ORLANDO, Fla.--(BUSINESS WIRE)--June 28, 2000--Leapfrog Smart Products Inc. (OTCBB:FROG - news), a leader in Smart card software development, and Micron Semiconductor Products' division, Crucial Technology, the world's largest factory-direct seller of memory upgrade modules, today announced the execution of an ``Authorized Government Agent'' agreement, by which Crucial's memory products will be listed on the General Services Administration (GSA) Federal supply schedule via Leapfrog's approved listing.
Leapfrog, as the holder of the GSA IT contract, acts as the principal supplier to governmental agencies. Crucial Technology is the supplier of products, under a pass-through arrangement. Leapfrog projects the value of the agreement to be in the multi-million dollar range on an annual basis.
Dale Grogan, President of Leapfrog Smart Products, commented: ``This arrangement is the first in what we anticipate to be a series of vendor agreements resulting from our recent GSA listing. This is an exciting milestone for our company as signing vendor contracts like the one with Crucial will allow Leapfrog to realize an additional revenue stream that will greatly add to our shareholder value.''
About Crucial Technology
Crucial Technology is a division of Micron Semiconductor Products Inc., which is a wholly owned subsidiary of Micron Technology Inc. (NYSE:MU - news). Crucial Technology sells memory upgrade modules factory direct from Micron Technology and offer 42,000 upgrades for more than 9,100 desktops, notebooks, servers and printers. Crucial Technology can be found on the Web at www.crucial.com.
Micron Technology Inc. and its subsidiaries manufacture and market DRAMs, SRAMs, Flash, other semiconductor components, memory modules and personal computer systems.
About Leapfrog Smart Products, Inc.
Leapfrog Smart Products, Inc. is a world-class leader in Smart card software development and system solution integration. Located in Maitland, Florida, Leapfrog is one of a small group of companies dedicated to creating applications for Smart cards. Smart cards are credit card-sized pieces of plastic with a computer microprocessor embedded within. Current applications of Smart card software include personal identification, e-purse transactions, loyalty points storage, physical and logical access, as well as portable storage of medical records. Leapfrog, through its General Services Administration (GSA) master contract, is also certified as a contractor with the United States federal government. Leapfrog Smart Products, Inc. is a publicly traded company, trading under the symbol FROG.
Statements in this news release that are not descriptions of historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as ``expect,'' ``intends,'' ``believes,'' ``plans,'' ``anticipates'' and ``likely'' also identify forward-looking statements. All forward-looking statements are based on current facts and analyses. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to history of operating losses, anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption of vital infrastructure and intellectual property rights. All forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission.
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Contact:
Leapfrog Smart Products, Inc., Orlando
Dale Grogan, 407/838-0400
daleg@leapfrog-smart.com
or
Crucial Technology
Sean Spence, 208/363-5657
scspence@micron.com
or
Continental Capital & Equity Corporation
Larry Clark, lclark@insidewallstreet.com
Jim Blackman, jblackman@insidewallstreet.com
407/682-2001 |
