Harold: I agree; this is great news. If we see some solid contracts out of the next trade show, we may actually see this stock start to produce the share value that we all need to get some of that "sunk" revenue back. Patience is a virtue.
By the way, here is the press release.
Thursday September 10, 9:01 am Eastern Time
Company Press Release
SOURCE: AXCESS Inc.
AXCESS Inc. Acquires RFID Technology - Secures
and Protects People and Property
DALLAS, Sept. 10 /PRNewswire/ -- AXCESS Inc. (Nasdaq: AXSI - news; formerly Lasertechnics,
Inc.) announced today it acquired the intellectual property assets of ASGI, Inc. in Dulles, VA,
to market and manufacture RFID-based (Radio Frequency Identification) access control and asset
management solutions.
This proprietary technology and the related products were obtained as part of the company's
previously announced strategic plan to bring to market access control products utilizing the
most preeminent emerging technologies in the rapid-growth security industry. According to Frost
& Sullivan research, 1997 total worldwide revenue from the sale of RFID related products was
just under $500 million and is projected to grow to over $3 billion by 2004.
AXCESS Inc. will formally launch its new RFID products at the ASIS (American Society of
Industrial Security) trade show in mid-September. The company expects to take dealer orders at
this show and begin shipments in the fourth quarter. ''This puts the company a full quarter
ahead of our business plan,'' stated Richard C.E. Morgan, AXCESS Inc. chairman of the board.
Benefits to the company include: ownership and control of this unique RFID technology and its
patents pending; the revenue potential from new contracts, licensing opportunities and working
the existing backlog; and ASGI's established distributor relationships, strategic partnerships,
installed customer base and the seasoned expertise of their staff -- more than 50 years
experience in RF/security product and systems design and development.
''This move is brilliant on two fronts,'' stated AXCESS Inc. board member Gregory W. Haskell,
president and coo of XL Vision, Inc., a Safeguard Scientifics partnership company. ''It
capitalizes on the trend to RFID as the most promising technology in the security industry.
Secondly, the deal was struck within the company's existing funding envelope eliminating the
need to raise additional capital or dilute the stock beyond that which had already been
contemplated.''
RFID Technology And The Solutions
''Over 60 percent of employers' shrinkage problems come from employee theft,'' said Harry S.
Budow, president and ceo of AXCESS Inc. ''Companies now realize they have to protect the
contents as well as the perimeter. Laptops are walking out the door in every company.''
A system is made up of small active tags, antenna (readers) and a server (PC). The reader
identifies the tag (distance can vary from inches up to 100 feet) and communicates the
information to a server with software for processing specific applications. In a typical
solution assets to be tracked would be tagged.
As the assets move about the facility, the system logs the activity. Further, each employee
badge would contain a tag. The system would then record who left with what, when. An instant
inventory can be obtained at any time providing manufacturing and logistics companies with
sophisticated inventory management as a value-added to security. The hands-free AXCESS Inc.
RFID solution has unique capabilities such as Tag-to-Tag(TM) Communication which expands the
range of field, Functional Linkage(TM) which associates a person with an asset, and the ability
to read multiple tags in a field allowing speed of access and on-demand inventory management.
The product is easily integrated into existing security systems. Besides access control and
asset management, some typical applications are time and attendance and vehicle management.
Combination Biometric Readers
AXCESS Inc. will introduce and demonstrate a combination reader at the September ASIS trade
show. The combi-reader, designed in partnership with XL Vision, Inc., will read a fingerprint
template inexpensively stored on an ID card and match it to the finger placed on the reader.
''When biometrics are added to the solution, the business is assured that access to vital
assets and data such as development labs and trade secrets is limited in a truly secure
manner,'' Mr. Budow continued. ''Last year US companies' losses in intellectual property fraud
exceeded $300 billion.'' A biometric uniquely identifies a person via physiological
characteristics such as fingerprint, voice, iris scans, etc. Multi-levels of security can be
installed to limit access to facilities or data. For example, perimeter doors may track entry
of those with a card containing an RFID tag but computer room access requires biometric match
with a card (or tag) containing the fingerprint template. ''Last year, intellectual property
fraud losses at U.S. companies exceeded $300 billion.''
Combi-readers can be integrated into virtually any type of security system and are planned for
mass production in the second quarter, 1999.
The company sells through indirect channels (i.e., dealers, distributors, integrators and
original equipment manufacturers) to the general business community and government.
AXCESS Inc., founded in 1982 as Lasertechnics, Inc., consists of two operating groups: (1)
AXCESS, headquartered in Dallas, TX with offices in Australia and Europe, which markets RFID
and biometric technology solutions for access control and asset management systems through
indirect channels; produces fraud-resistant wallet-size ID cards and assembles and sells
dye-sublimation secure card printers and (2) Lasertechnics Marking Corporation of Albuquerque,
NM (wholly owned) which provides laser marking systems and related technologies for a diverse
range of industrial and commercial markets.
For additional information, please see the AXCESS website at www.axsi.com. |
