PRAV .13x.135.News out.Got some shares, and maybe will be higher due to the next Q coming to be out by the 15th and CC, the 13th.
Paradigm Advanced Technologies' Business Growth Continues Strong
TORONTO, May 6, 2002 (BUSINESS WIRE) -- Paradigm Advanced Technologies, Inc. (OTCBB: PRAV chart, msgs) confirmed today that substantial additional business has been generated separate and subsequent to the earlier announced contract with the company's German distributor on March 21st. Resulting sales for the Destinator division surpassed $400,000 to the end of April.
In particular, new markets for sales of the company's Destinator(TM) product were opened in Sweden, the United Kingdom, Denmark and Spain. This means that the Destinator(TM) technology is now available in seven languages -- English, French, Spanish, German, Italian, Hebrew, and Swedish. Paradigm continues to work with major PDA and PDT (personal digital terminal) suppliers in North America and Europe to expand sales opportunities as a joint product offering.
Growing interest in the market is being shown for the company's Tracker(TM) products. Details of several recent contracts will be consolidated and announced within the next week. As the World Trade Center disaster recovery debris removal project winds down, Paradigm's participation in this project will also conclude. New York City officials have expressed significant interest in how Paradigm's technology might be applied to other operations managed by the city. Company personnel have been asked to participate in a study/hearing to be conducted by the City of New York in the next few days.
As a result of the World Trade Center tragedy and the FCC 911 mandate, interest is growing rapidly about Personal Location Devices (PLDs). Paradigm is currently working on the development of sophisticated PLDs with three major international companies under non-disclosure agreements. Accordingly, specifics of these projects cannot be revealed at this time.
ABOUT PARADIGM ADVANCED TECHNOLOGIES, INC.
Paradigm Advanced Technologies, Inc. (OTCBB: PRAV chart, msgs) (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 people, vehicles and other assets. Paradigm's technology was chosen to help track recovery vehicles at the World Trade Center disaster recovery site. "Destinator(TM)" (www.destinator1.com) won the prestigious People's Choice Award of America's Pocket PC Magazine in 2001 and a similar award in Germany this year. Destinator(TM) technology 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. For further information on Paradigm and its PowerLOC division, visit www.powerloc.com or call (905) 764-3701.
Paradigm is also listed on the Frankfurt Stock Exchange - symbol - PG8.
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.
Contact:
Paradigm Advanced Technologies, Inc.
D. Brian Hay, 905/764-3701 |
