Lance,
Is this the rumor on PRAV?
Monday November 19, 5:15 pm Eastern Time
Press Release
SOURCE: Paradigm Advanced Technologies, Inc.
Paradigm Chosen to Provide GPS-based Tracking for Highly Sensitive Security Application
TORONTO--(BUSINESS WIRE)--Nov. 19, 2001--The PowerLOC Division of Paradigm Advanced Technologies, Inc. (OTCBB:PRAV - news) today confirmed that it has been chosen by a large U.S. city to supply a turn-key specialized tracking system solution for a high security project which relates to the recent terrorist attacks in the United States. This project involves outfitting fleets of vehicles to ensure real-time tracking of each vehicle, driver and contents. Due to the extreme sensitive nature of this project, Paradigm has elected to follow the customer's directive by not providing any further details to the public.
In this project PowerLOC is working with US based Criticom International Corporation(IDC) (www.bestresponse.com) who is a PowerLOC licensed location service providers(LSP). IDC was selected for operating a PowerLOC L-Biz(TM) Tracker in a secure site and for being able to provide location-based emergency monitoring services.
``We feel fortunate to have been given the opportunity to participate in this most sensitive task. Careful accounting and verification of how sensitive material is processed is another method of the incredible flexibility of our L-Biz(TM) location based technology. We feel that this will help open the door to further similar contacts with other governmental agencies including the U.S. Government,'' said Eduardo Guendelman, President and C.E.O. of Paradigm.
The PowerLOC location based technology is highly accurate, programmable, portable and secure. The system is ideally suited for rapid installation in vehicles servicing recovery operations and is expandable to accommodate other vehicles as required. Its design permits real-time verification of routing and duration of trip while giving the driver of the vehicle an emergency signal capability for enhanced security if any operational difficulties are experienced, such as load shifting, accidents, traffic delays, etc.
The contract with the City is expected to last for the duration of the ongoing project. No final value of the contract has been formally estimated at this time.
ABOUT PARADIGM ADVANCED TECHNOLOGIES, INC.
Paradigm Advanced Technologies, Inc. (OTCBB:PRAV - news; www.powerloc.com) provides a full range of wireless location tracking technology solutions to service providers and end users in the telematics, GPS, M-Business, L-solutions and CRM/ERP markets. Paradigm's servers, software and devices locate, track, navigate, communicate with and manage vehicles and other assets. Paradigm's ``Destinator(TM)'' (www.destinator1.com) is the only portable navigation product of its kind that provides a breakthrough experience in vehicular navigation and communication. Paradigm owns the exclusive licensing rights to a broad based wireless location patent (U.S. Patent no. B1 5,043,736) covering the apparatus and method of transmitting position information from satellite navigational signals (such as GPS) over cellular systems to a base unit and displaying the location of that equipped object. Paradigm's rights cover all fields of use for the patented system (except for certain criminal justice applications). For further information on Paradigm and PowerLOC, visit www.powerloc.com or call (905) 764-3701 Ext. 249.
Paradigm is also listed on the Frankfurt Stock Exchange - symbol - PG8.
ABOUT CRITICOM INTERNATIONAL CORPORATION
Criticom International Corporation provides state-of-the-art emergency and non-emergency monitoring services to customers with both fixed and mobile assets. The organization is merging with King-Monital of New Jersey to create the biggest dealer central station in the world. With more than 5,000 alarm dealers and serving more than a half a million alarm monitoring service subscribers, Criticom has ten North American locations, including five redundant UL listed central stations. Criticom is currently the largest provider of GPS and location-based emergency monitoring services in the world to commercial and industrial organizations and ranks third in the consumer market. For additional information, visit www.bestresponse.com or call (866) 864-4550.
This press release contains forward-looking statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Paradigm Advanced Technologies, Inc., and its business. The predictions embodied in these statements will involve risks and uncertainties and accordingly, Paradigm's actual results may differ significantly from the results discussed or implied in such forward-looking statements.
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Contact:
Paradigm Advanced Technologies, Inc.
Chuck Allen, 905/764-3701 ext. 249 |
