BrainTech Completes Machine Vision Contract For Automotive Brake Shoe Refurbishing Factory.Business/High Tech Editors NORTH VANCOUVER North Vancouver, city (1991 pop. 38,436), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver, of which it is a suburb. Shipbuilding, woodworking, and the shipping of grain, lumber, and ore are the chief industries. , B.C.--(BUSINESS WIRE)--March 22, 2000 BrainTech Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BNTI BNTI Blind Nasotracheal Intubation ), today announced the successful completion of its machine vision contract with Satisfied Brake Products (SBP SBP Spontaneous bacterial peritonitis, see there ). SBP is an established manufacturing company located in Cornwall, Ontario Cornwall is a city in eastern Ontario, Canada and the seat of the United Counties of Stormont, Dundas and Glengarry, Ontario. Cornwall is Ontario's easternmost city, located on the St. , which refurbishes automotive brake shoes. BrainTech's contract with SBP was first announced in the company's October 1st, 1999 Press Release and called for the design and implementation of a complete machine vision system. The system installed at SBP has successfully completed a battery of operational tests under the most rigorous production environment and has operated trouble free during the past month and a half production period. It is designed to perform parts recognition and inspection during the refurbishing process and is currently operating under full production conditions, automatically identifying several hundred different items (brake shoes) at an average rate of two every one and a half seconds. In addition to this function, the system also keeps track of parts "Bin" capacities and generates product inventory reports as well. This machine vision system utilizes BrainTech's BrainTron II classifier in combination with certain image processing image processing Set of computational techniques for analyzing, enhancing, compressing, and reconstructing images. Its main components are importing, in which an image is captured through scanning or digital photography; analysis and manipulation of the image, accomplished functions of BrainTech's Image Processing Library as well as other proprietary BNTI software components. "This application provided an excellent environment to incorporate the use of our technology. This fast paced and demanding industrial environment is among the most challenging that can be found anywhere." States BrainTech's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Mr. Owen Jones, adding that, "We appreciated the opportunity to work with the people at Satisfied Brake Products and look forward to building a long term business relationship with their growing organization." About BrainTech Inc. BrainTech specializes in the design, development and commercialization of advanced pattern recognition technologies and products. Founded in 1994, the company builds highly effective, adaptive pattern matching recognition systems based on its patented technologies. BrainTech is a public trading company listed on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. , and trades under the symbol BNTI. For more information, visit http://www.bnti.com. ON BEHALF OF THE BOARD OWEN JONES CEO, DIRECTOR 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 provides a "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. " for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by BrainTech, Inc.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of BrainTech, Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state income tax laws, and market competition factors. |
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