VHS Network Acquires Licensing Agreement From Groupmark Canada Ltd.
BusinessWire, Friday, February 26, 1999 at 11:58
MISSISSAUGA, Ontario--(BUSINESS WIRE)--Feb. 26, 1999--VHS Network
Inc. (Nasdaq BB:VHSN), a publicly traded Florida corporation,
announced Friday that it has entered into a licensing agreement with
Groupmark Canada Ltd., for their "SmartCARD(tm)."
Groupmark Canada Ltd. wishes to license VHS to carry this
technology to handle its Ecommerce business interests. VHS is
developing major distribution networks for the NEO multi media
internet touch screen technology and encrypted software devices.
The growing demand for these devices by major businesses such as
airlines, retail chains, government, banks and the general public have
focused VHS Network Inc.'s vision.
VHS expects the SmartCARD(tm) with its intelligent chip interface
will be the card of choice for future financial transactions
(debit/credit/cash) due to its secure transaction capability on the
internet as well as day to day purchasing requirements. Banks and
other major financial institutions have a growing concern over the
vulnerability of magnetic strip card to fraud. With the growing use
of card transactions over the internet, the concern becomes greater.
This should give VHS millions of dollars in new revenue. VHS hopes to
be part of the solution to this increasing concern. Serving the needs
of tomorrow today.
Safe Harbor for Forward Looking Statements: Except for historical
information contained herein, the statements in this Press Release are
forward-looking statements that are made pursuant to the safe harbor
provisions of the Private Securities Reform Act of 1995. These
statements involve known and unknown risks and uncertainties which may
cause the company's actual results in the future periods to differ
materially from the forecasted results. These risks and uncertainties
include, among other things, product price volatility, demand,
competition, risk inherent in the company's domestic and international
operations, imprecision in estimating product reserves and the
company's ability to replace and expand its holdings.
CONTACT: TST, Absecon, N.J.
Pat Vitucci, Investor Relations, 609/748-0563
or
VHS Network, Mississauga
Elwin Cathcart, 877/602-8477 (toll-free) |
