Bullet Environmental to Invest in Video Camera Company.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 25, 2001 Bullet Environmental Technologies, Inc. (the "Company") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BLLE) announced today that it had entered into discussions with a privately held Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. to develop miniaturized, low-power technology that allows the transmission of video and other information over low-bandwidth wireless and traditional networks. The devices offer local storage for data redundancy Writing data to two or more locations for backup and data recovery. For example, data can be stored on two or more disks or disk and tape or disk and the Internet. See disk redundancy and data recovery. or network balancing on radio, cellular and other intermittent or interruptible networks. The Company's first product is far more than just a miniature camera with superior video compression Encoding digital video to take up less storage space and transmission bandwidth. See video codec and data compression. video compression - Compression of sequences of images. technology. The Company has created unique technology that integrates the full functionality of a computer -- including CPU CPU in full central processing unit Principal component of a digital computer, composed of a control unit, an instruction-decoding unit, and an arithmetic-logic unit. , operating system, memory, local storage, network capabilities and PCMCIA (Personal Computer Memory Card International Association, San Jose, CA, www.pcmcia.org) An international standards body and trade association that was founded in 1989 to establish a standard for connecting peripherals to portable computers. PCMCIA created the PC Card. See PC Card. expansion slots -- into a device slightly larger than a cellular telephone. It includes an onboard camera in the same form-factor, or it can be configured to work with any existing analog or digital camera on the market. This integration of the video capture, compression and intelligent storage creates a new class of devices: the remote micro-server. The Company expects that a Letter of Intent will be negotiated pursuant to which it will acquire the United States corporation. The discussions are contingent on the negotiation of the Letter of Intent, completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and a definitive formal agreement. This press release contains forward-looking statements regarding Bullet Environmental Technologies, Inc. and its future sales related activities. Actual results differ materially from those described or implied in this press release as a result of a number of factors. These include, but are not limited to, the future growth of these markets, any adverse actions by the Company's partners, competitive products, other economic factors affecting the Company's markets, the degree of acceptance that new products achieve, and seasonal changes. |
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