Centraxx Receives A $16 Million Equipment Order For Korean Market.Business Editors MISSISSAUGA, Ontario--(BUSINESS WIRE)--Dec. 13, 2000 Centraxx Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CNXX)(Frankfurt:CJQ CJQ Communications Job Queue CJQ Coordinator Job Queue ), a wireless and location technology innovator, today announced it has received it's first international equipment order for the Korean marketplace. The order is for 1,000 base stations and an initial quantity of Centraxx AutoRescue tags. The order is valued in excess of $16 million, of which $250,000 was received as a deposit. The base station shipments are expected to commence late in the second quarter next year. The Korean network is expected to be operational in the key metropolitan areas before the end of 2001. "We are very pleased with our business prospects in Korea," stated Michael Ivezic, Chairman and 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. of Centraxx. "Samsung, one of the largest Korean companies, is an excellent partner and they have installed a first rate management team to operate Centraxx Korea. The team, under the direction of Samsung SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. veteran C.W. Park, will oversee the network deployment and marketing and sales of the Centraxx line of products in Korea." About Centraxx Inc. Centraxx Inc. is a wireless data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. company focusing on providing location technology solutions to the mass market. Centraxx has a patent pending RF land-based system that it intends to deploy in a network configuration in key markets across North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and internationally through joint venture relationships. Centraxx UNI-POINT(TM) technology is capable of providing high-speed, two-way data transfer and single point tracking and locating information. Over time, this proprietary, high capacity network will facilitate the wireless transfer of data for a wide range of products and applications. Centraxx will first introduce an automotive application, the AutoRescue(TM) vehicle tracking and recovery system with AutoRescue PLUS(TM) roadside and emergency notification service. This will be the world's first vehicle tracking system combining high accuracy, self-arming reliability and a low price. More information regarding Centraxx and its products and services can be found on the World Wide Web at www.centraxx.com. Forward-looking statements in this release are 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, acceptance of the Company's products, increased levels of competition, new products and technological changes, the Company's dependence upon third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. (The information in this release has been neither approved nor disapproved by any regulatory body.) |
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