CareDecision Corp. Commences Commercial Installations of Its ResidenceWare Wi-Fi Networks at Hotels.Business Editors/High-Tech Writers NEW YORK--(BUSINESS WIRE)--Jan. 13, 2004 Credit Line Drawn Down, Installations on an Expected 6900 Units Underway, and Company Readies for Additional Hotel Orders CareDecision Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CDED CDED Canadian Digital Elevation Data CDED Common Desktop Environment Developers (Unix) ) today reported that it has begun the commercial deployment of its Wi-Fi ResidenceWare product, beginning with approximately 480 units at nine hotels in the Midwest. The Company's revenue installations have commenced at hotels located in Sioux Falls Sioux Falls, city (1990 pop. 100,814), seat of Minnehaha co., SE S.Dak., on the Big Sioux River; settled 1856, inc. as a village 1877, as a city 1883. Settlers abandoned the site in 1862 because of Native American raids, but with the establishment (1865) of Fort , SD; North Sioux City Sioux City, city (1990 pop. 80,505), seat of Woodbury co., NW Iowa, at the junction of the Big Sioux and Floyd rivers with the Missouri; inc. 1857. It is a shipping, wholesale trade, and industrial center for an extensive agricultural and livestock area (including , SD; Blue Earth, MN; hotels located in and around Minneapolis, MN; and in Jamestown, ND. Marketing activities in this three-state region began several months ago with the implementation of the Company's ResidenceWare Co-op Ad program. CareDecision's popular ResidenceWare products help create unique e-business networks. Hotel guests can choose from a broad menu of information, local services, travel, business conveniences, food deliveries and more via proprietary Wi-Fi powered PDAs. The ResidenceWare PDAs are physically affixed af·fix tr.v. af·fixed, af·fix·ing, af·fix·es 1. To secure to something; attach: affix a label to a package. 2. within the guest rooms at participating hotels. Each network yields a monthly volume of electronic transactions from local merchants, broadband Internet See broadband. connection revenues, local advertising revenue bases and revenues from other convenience services. Navin Patel Navin Patel is a Fiji Indian businessman and politician. He held the Ba Indian Communal seat in the House of Representatives for the National Federation Party (NFP) from 1977 to 1987. , the owner of 18 hotels that recently placed orders for CareDecision ResidenceWare, commented, "Many of us in the hotel business believe that the only way to make an extra dollar is by cutting expenses. But, by introducing this unique product everything has changed. My hotels have over 1100 rooms and we estimate, as a direct result of ResidenceWare, an annual transaction revenue stream of almost $550,000 across my 18 hotels. With CareDecision's Co-op Ad revenue-sharing program, each of my hotels should add profits, and I can still save an extra dollar or two by cutting expenses elsewhere." Robert Cox, Chairman of CareDecision Corp., commented, "Our ResidenceWare product has been enthusiastically received by hotels throughout the Midwest. As we secure this beachhead beach·head n. 1. A position on an enemy shoreline captured by troops in advance of an invading force. 2. A first achievement that opens the way for further developments; a foothold: of business, we can shortly turn our attention to the southeastern states and to California. Our recently announced credit facility has been of immeasurable help in this regard. With a second credit facility in the works, we plan more revenue implementation announcements in the near future." Raju Patel, the owner of seven of the hotels where ResidenceWare has been ordered, concluded, "In the 19 years I have been a hotel owner, I have witnessed the introduction of many ideas that promised to allow me a jump ahead of my competition. Yet, until now the success of my business depended not on a new idea, but primarily on a bright, clean room, modestly priced, at a dollar or two less than the competition. With our current implementation of ResidenceWare, I am now able to introduce unique and differentiated services to our guests which will allow us to make additional money, not spend it fruitlessly." 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. Statement Under 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 This release contains forward-looking statements about our business or financial condition that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain statements not accompanied by such expressions. All forward-looking statements are intended to be covered by the safe harbor created by Section 21E of the Securities Exchange Act of 1934. |
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