Alanco Awarded Multiyear TSI PRISM(TM) Services Contract For Michigan Juvenile Facility.SCOTTSDALE, Ariz. -- Alanco Technologies Inc. (Nasdaq: ALAN), developer of the TSI TSI Total Solar Irradiance (sum solar light in energy per unit of time) TSI Trading Standards Institute (UK) TSI Transportation Safety Institute (US DOT) PRISM RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. officer safety and inmate tracking system for the corrections industry, today announced that the company has been awarded a three-year competitively bid contract by the state of Michigan Department of Management & Budget to provide extended support and services for a TSI PRISM system in operation at the W. J. Maxey School for Boys (Maxey) located in Whitmore Lakes, Mich. The TSI PRISM system has been in operation at Maxey, a maximum security juvenile facility, since late 2002. The support contract, valued at approximately $315,000, is scheduled to begin in April 2006 and will include a subcontracting partnership with Ann Arbor Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as Computer Systems, a Michigan-based company. Robert R. Kauffman, Alanco's chairman and chief executive officer, commented, "We are particularly pleased to provide continued service and support at the Michigan W. J. Maxey facility, since this installation marks the initial commercial utilization of TSI PRISM technology in the U.S." Alanco Technologies Inc., headquartered in Scottsdale, Ariz., is the developer of the TSI PRISM RFID continuous tracking system for the corrections industry, which tracks the location and movement of inmates and officers, resulting in significant prison operating cost reductions and enhanced officer safety and facility security. Utilizing RFID (Radio Frequency Identification See RFID. ) tracking technology with proprietary software and patented hardware components, TSI PRISM provides real-time inmate and officer identification, location and tracking capabilities both indoors and out. TSI PRISM is currently utilized in a high-security youth treatment facility in Michigan and prisons in California, Illinois, and Ohio. The company also participates in the data storage industry through two subsidiary companies: Arraid Inc., a manufacturer of proprietary storage products to upgrade older "legacy" computer systems; and Excel/Meridian Data Inc., a manufacturer of Network Attached Storage (NAS (1) See network access server. (2) (Network Attached Storage) A specialized file server that connects to the network. A NAS device contains a slimmed-down operating system and a file system and processes only I/O requests by supporting the popular ) systems. Except for historical information, the statements contained in this press release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. All such forward-looking statements are subject to, and are qualified by, risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. These risks and uncertainties include, but are not limited to, reduced demand for information technology equipment; competitive pricing and difficulty managing product costs; development of new technologies which make the company's products obsolete; rapid industry changes; failure of an acquired business to further the company's strategies; the ability to maintain satisfactory relationships with lenders and to remain in compliance with financial loan covenants A loan covenant is a condition in a commercial loan or bond issue that requires the borrower to fulfill certain conditions or forbids the borrower from undertaking certain actions, or possibly restricts certain activities to circumstances when other conditions are met. and other requirements under current banking agreements; and the ability to secure and maintain key contracts and relationships. |
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