(PR NEWSWIRE) FutureTrak International, Inc. Signs Letter of Intent to Acq
FutureTrak International, Inc. Signs Letter of Intent to Acquire Maxwell Rand
Holdings, Inc.
POMPANO BEACH, Fla., Feb. 22 /PRNewswire/ -- FutureTrak International,
Inc. (OTC Bulletin Board symbol: FTRK) announced today that a letter of intent
has been signed for the acquisition of Maxwell Rand Holdings, Inc. by Maxwell
Technologies, a wholly owned subsidiary of FutureTrak International, Inc.
Maxwell Rand has developed a compression algorithm that delivers still
image quality based on combined methodology of Wavelet and Discrete Cosine
Transformation (DCT), which will take a still image and convert it into a
scaleable ratio based on users' preference at a fraction of its size without
losing the resolution quality. Maxwell scientists have proven that for any
fractal iterative function, there is a Wavelet basis to represent this system.
The visually lossless compression algorithm compresses the whole image, rather
than blocks of the image, in real color, thus eliminating the deficiencies of
JPEG.
"The new mathematical research developed by Maxwell Rand and its team of
scientists has contributed to a major breakthrough in the field of compression
technology which will have a great impact on the Internet," said Steve
Remondini, Chairman and President of FutureTrak International, Inc.
"We plan to introduce a host of new exciting tools and application
solutions based on our compression algorithm for the use of the Internet and
World Wide Web in the marketplace. This will ensure our commitment to the
Internet and its explosive growth in the market place," said Dr. Ahmad Moradi,
CEO of FutureTrak International, Inc.
FutureTrak International is a provider of integrated information products
and services serving both the mobile and MDU markets. The Company provides
DIRECTV, Internet Access, Internet Contents, and Telephony Solutions to its
client base. For further information, contact FutureTrak International, Inc.,
www.futuretrak.com, 3635 Park Central Blvd. North, Pompano Beach, FL 33064,
Toll Free: 888-752-3474.
Certain statements in this release and the company's financial projections
that are not historical fact constitute "forward-looking information." Such
forward-looking information involves known and unknown risks, uncertainties
and other factors, which may cause the actual results of the Company to be
materially different from results expressed or implied by such forward-looking
information. Such risks, uncertainties and other factors include, but are not
limited to: customer demand not meeting expectations; lack of consistent
supply of materials; lack of adequate distribution markets; and inability to
meet customer demand.
SOURCE FutureTrak International, Inc.
-0- 2/22/99
/CONTACT: Stefanie Haden, FutureTrak, 954-971-2244, or fax, 954-971-2228/
/Web site: futuretrak.com
(FTRK)
CO: FutureTrak International, Inc.; Maxwell Rand Holdings, Inc.
ST: Florida
IN: CPR MLM
SU: TNM
*** end of story *** |
