Computerized Motor Vehicle Registration Certificates on ``Smart Optical Cards'' Planned by State of Maharastra, India.Business Editors and Technology Writers MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--May 16, 2001 Drexler Technology Corporation (Nasdaq:DRXR) said that its Smart/Optical cards have been offered through an Indian systems integration company in response to a Tender Notice (request for proposal) by the Indian State of Maharastra for the implementation of a computerized computerized adapted for analysis, storage and retrieval on a computer. computerized axial tomography see computed tomography. motor vehicle registration system utilizing "Smart Optical Cards." The Tender Notice states, in part: "Transport Commissioner's Office, Maharashtra State, Mumbai. Tender Notice -- Sealed Tenders are invited for implementation of computerised Motor Vehicles Registration System for issuing Motor Vehicle Registration Certification on Smart Optical Cards on BUILD, OWN AND OPERATE (BOO) basis, at all Transport Offices throughout in the State, for a period of 5 years. The intended parties having experience in designing, installing and issuing of Smart Optical cards and having latest annual turnover of more than 2 (two) crores should submit their offer in two envelope bidding system
of (i) Technical Proposal in the form of qualification documents (issued by the department) and (ii) Financial offer (Tenderer own way)." Drexler Technology's Smart/Optical(TM) card is part of the bid submitted by an Indian systems integration company for this program; however, there is no assurance that the program will proceed or that the bid will be successful. As a matter of corporate policy, the Company will not be discussing the status or estimating the period of time required for the potential contract award. One of India's 26 states, Maharastra had a population of 79 million people at the time of the 1991 census and is estimated to have 94 million people today. The capital city of Maharastra is Mumbai (Bombay Bombay (bŏmbā`), former state, W central India, on the Arabian Sea. The state contained within its borders the former Portuguese colonies of Goa and Daman and Diu. Historical remains exist from the period (320–184 B.C. ). The population of Maharastra is almost three times that of the Indian State of Kerala, which has issued a similar Tender Notice for a motor vehicle registration system incorporating "Smart Optical Cards," as reported by the Company on May 8, 2001. Headquartered in Mountain View, Drexler Technology Corporation (www.lasercard.com) invents, develops, and manufactures optical data storage products and systems, including LaserCard(R) optical memory cards and chip-ready Smart/Optical(TM) cards. Its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , LaserCard Systems Corporation, makes optical card read/write drives, develops optical card system software, and markets card-related data systems and peripherals. LaserCard(R) optical memory cards are used for "digital governance Governance makes decisions that define expectations, grant power, or verify performance. It consists either of a separate process or of a specific part of management or leadership processes. Sometimes people set up a government to administer these processes and systems. " applications such as immigration immigration, entrance of a person (an alien) into a new country for the purpose of establishing permanent residence. Motives for immigration, like those for migration generally, are often economic, although religious or political factors may be very important. , visas, cargo manifests, motor vehicles, import-duty collection, pay-per-use systems, and ID/access; and for healthcare and other digital read/write wallet-card applications. 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. : Certain statements made above relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc plans, objectives, and economic performance go beyond historical information and may provide an indication of future results. To that extent, they are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and each is subject to factors that could cause actual results to differ from those in the forward-looking statement. Such factors are described in the Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and other documents filed by Drexler Technology Corporation (the "Company") from time to time with the Securities and Exchange Commission. The Company's business plan depends upon the initiation and growth of new programs utilizing the Company's optical memory card products and is subject to adverse economic and technological developments. There is no guarantee that Maharastra, Kerala, or other state governments in India will purchase the Company's products in material quantities. |
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