PCTR has put out it's own release on the Cal TIP grant.. some different stuff in it:
Perceptronics Receives $250,000 State Grant For
InterGame Networking Software
WOODLAND HILLS, Calif., July 21 /PRNewswire/ -- Perceptronics, Inc. (OTC Bulletin Board:
PCTR - news) today announced that the Company had been awarded a $250,000 grant to further
develop and commercialize its HLA-based InterGame(TM) software for networking multi-player,
on-line Internet games. The Los Angeles Regional Technology Alliance and representatives of the
state of California selected Perceptronics to win the award under the California Technology
Investment Partnership (CalTIP) Program, which provides supplemental funding for federal
technology awards. Perceptronics' grant was one of nine given to Southern California companies in
the greater Los Angeles area -- now known as the Tech Coast.
Dr. Gershon Weltman, Perceptronics' chairman and chief executive officer, said, ''The CalTIP
grant will be a very important part of the Company's growth strategy, which is to transition its
defense technology to commercial products. We are extremely gratified and excited to have won it.
The grant will supplement the previously announced $750,000 SBIR Phase II development
contract from the U.S. Army's Simulation. Training and instrumentation Command (STRICOM)
and the 50% matching outside equity investment.
''Our plan is to have a prototype version of the InterGame software in approximately 12 months.
The CalTIP funding will allow us to increase our program staffing and to interact more closely with
talented gaming firms throughout California. A major purpose of CalTIP is to create more
investment and jobs in the Tech Coast by allowing small companies to flex their technological
muscles -- and we plan to do our part.''
''The initial InterGame product is a set of software tools plus protocols that will allow users to
create multi-player, on-line games more efficiently and with greater entertainment values and
salability. Its anticipated customers will be Internet game developers and service providers, as well
as networked location-based entertainment developers.''
''Multi-player, on-line games is the most rapidly growing sector in the multi-billion dollar electronic
entertainment market,'' continued Dr. Weltman, ''but a lack of adequate supporting technology has
kept such games from realizing anything near their full potential. The DoD has developed a strong
technology base in its Distributed Interactive Simulation (DIS) and its new High Level Architecture
(HLA) for simulation. Our approach is to use a combination of DIS and HLA concepts,
proprietary software technology, and open standards to bring the benefits of an advanced and
extensible open architecture to game developers and service providers in a practical and
immediately useful package.''
''Development of commercial applications for our InterGame networking technology is a major
business opportunity for Perceptronics. On-line entertainment is our initial emphasis, but we believe
there are also other promising commercial applications as well -- particularly in distance learning
and business communications. Perceptronics is actively seeking strategic and marketing partners for
full commercial introduction and marketing of its planned networking products line, which will likely
require additional investment funding.''
Perceptronics performs research and development and manufactures and markets computer-based
simulation systems and software for military and commercial training and decision support. Further
information about Perceptronics and its products can be found on the Internet at
www.perceptronics.com.
Statements regarding the Company's expectations about growth and marketing strategies, new and
existing products, future financial performance and other Forward Looking Statements are subject
to various risks and uncertainties, including, without limitation, technological factors, competitive
factors, financing and cash flow factors, and uncertainties relating to foreign mid defense-related
sales. These and other risks are discussed in greater detail from time to time in the Company's SEC
filings and reports.
SOURCE: Perceptronics, Inc.
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