(COMTEX) B: HERITAGE CONCEPTS INTERNATIONAL INC: GLOBAL TELEMEDIA INT
B: HERITAGE CONCEPTS INTERNATIONAL INC: GLOBAL TELEMEDIA INTERNATIONAL, INC -
AcSys US and Global TeleMedia Finalize First-Stage of Agreement
New York, New York, Feb 08, 2001 (Market News Publishing via COMTEX) --
Heritage Concepts International Inc.'s (HCI) US affiliate AcSys Biometrics USA,
Inc. and BentleyTel.com Inc. a multi-national corporation and subsidiary of
Global TeleMedia International, Inc., a California-based company clarify their
reciprocal technology agreement.
AcSys will receive monthly fees under the agreement for the BentleyTel AcSys
Card. The fee structure is tier-based on a per-card basis. Expected revenues on
the first 2,000 machines should equate to a minimum of US$ 1.0 million in
licensing fees for the first year. AcSys expects deployment to reach 10,000
machines over a three-year period.
"We are delighted to be providing news with revenue forecasts, said Jerry Janik,
AcSys' president. "To not only create the first card of its kind for our
stakeholders, but also to see the outcome of our efforts monetized is especially
gratifying. We look forward to continuing our alliance with BentleyTel in the
Smart Card industry."
As previously announced, the agreement provides that AcSys US, which owns the
exclusive worldwide Holographic Quantum Neural Technology (HNeT) license for
face and speech recognition applications through its parent AcSys Biometrics
Inc., will contribute HNeT to Global's majority-owned subsidiary, BentleyTel.com
for use in the BentleyTel Smart-e-Card to create the BentleyTel AcSys Card.
The BentleyTel AcSys Card is expected to be sold via the Internet, telemarketing
and provided to large employers and government departments.
Jonathon Bentley-Stevens, president of Global TeleMedia, said, "The BentleyTel
AcSys card is unique and, to date, we believe there are no other cards in the
reportedly $6 billion smart card market that offer such a broad range of
features. We believe a great future is in store for this card."
Global TeleMedia International, Inc., located in Newport Beach, California,
through its BentleyTel.com subsidiary, (www.bentleytel.com) is a leading
developer of interactive software for complex E-commerce solutions, multi-media
and high speed Internet and wireless communication systems, including
international & long distance Voice over IP, LAN VPN (Virtual Private Network),
ISP, Virtual ISP, and PC-PC, PC-Phone transmission of data and voice. It also
owns manufacturing and telecom, ISP, and software development facilities in
Australia, Malaysia and the Philippines.
AcSys Biometrics USA Inc. is a wholly owned subsidiary of AcSys Biometrics Inc.,
a subsidiary of HCI. AcSys Biometrics is the leading-edge provider of facial
recognition through its exclusive worldwide license for face and speech
recognition based on Quantum Holographic Neural Technology (HNeT) with
applications for the financial, manufacturing, security and medical sectors. HCI
is a diversified, Burlington, Ontario-based, Canadian- controlled company
operating in this new economy through autonomous subsidiaries and partnerships.
HCI trades on the Toronto Stock Exchange.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements, which are made pursuant
to the safe harbor provisions of the U.S. Securities Litigation Reform Act of
1995. Forward-looking statements involve known and unknown risks and
uncertainties, which could cause the company's actual results to differ
materially from those in the forward-looking statements. Such risks and
uncertainties include, among others, the availability of funds and resources to
pursue R&D projects, the ability of the company to take advantage of the
business opportunities in the technological industry, uncertainties related to
the regulatory process and general changes in economic conditions. Investors
should consult the company's ongoing quarterly and annual filings with the
Canadian securities commissions for additional information on risks and
uncertainties relating to the forward-looking statements. The company cautions
investors not to rely on these forward-looking statements. The company does not
undertake to update these forward-looking statements.
CONTACT: TEL: (905) 634-4111 Darlene Marks, Director, Communications
FAX: (905) 634-1101 Heritage Concepts International Inc.
Email: invest@hci.ca
TEL: 800-801-5181 Global TeleMedia International Inc., Acti
n Stocks
Email: glti@actionstocks.com
MarketbyFax(tm) - To get the NEWS as it happens, call (604) 689-3041.
(C) 2001 Market News Publishing Inc.
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KEYWORD: New York, New York
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