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Creative Vistas Reports 2004 Financial Results.


WHITBY, Ontario Whitby (2006 population 111 184) is a town located east of Toronto on the north shore of Lake Ontario, and is the seat of Durham Region, Ontario, Canada. History  -- Creative Vistas, Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
: CVAS CVAS Controlled Vehicle Access System
CVAS Configuration Verification Accounting System (NASA) 
), a leading provider of integrated electronic security and surveillance systems, announced results for its year-ended December 31, 2004, its first year as a public company. The Company reported revenue of approximately $8.5 million from January to December 2004, resulting in a net loss of approximately $(2.0) million for the same period. The Company's results were impacted by non-cash expenses of $548,500 related to the amortization of discounts and deferred charges and the increase in professional and transaction fees of $529,000. Additional information is contained in the Company's 10-KSB that has been filed with the Securities and Exchange Commission.

Creative Vistas' 2004 revenue consisted primarily of sales and services relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 the integration of its advanced security solutions in government, healthcare, retail and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
 projects completed by its AC Technical Services subsidiary. Some of the recent highlights include:

--The Company entered into a letter of intent to acquire the privately-held dataBahn, Inc. dataBahn is based in Farmers Branch, Texas Farmers Branch is a city in Dallas County, Texas (USA). The city is a suburb of Dallas and is part of the Dallas/Fort Worth Metroplex. The population was 27,508 at the 2000 census. , and provides solutions to connect consumers and commercial users by providing satellite-based internet, voice and data services to the emerging broadband mobile communications markets.

--The Company was selected by BMW BMW
 in full Bayerische Motoren Werke AG

German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s.
 to implement a security project to provide the automotive manufacturer with advanced digital video surveillance equipment, plus integration and related services designed to ensure the security of BMW's locations in Canada. The project is expected to be completed during the first half of 2005.

--AC Technical was awarded approximately $648,000 in orders for new security projects, providing access control and CCTV CCTV
abbr.
closed-circuit television


CCTV closed-circuit television
 equipment plus installation and related services in three projects for the Canadian Government.

--Went public through the acquisition of Creative Vistas, a public company trading on the Over-The-Counter Bulletin Board.

"We accomplished a great deal in our first year as a public company," said Sayan Navaratnam, Chief Executive Officer of Creative Vistas, Inc. and AC Technical Systems Ltd. "We signed many new customers in the government, financial services and healthcare verticals, giving us strong momentum for 2005. We believe that our growing customer base, innovative security solutions and high-profile project wins position as well to rapidly grow revenue and earnings."

About Creative Vistas, Inc.: Creative Vistas, Inc., through its subsidiary AC Technical Systems Ltd, is a leading provider of integrated electronic security and surveillance systems. It provides its systems to various high profile clients including: Government, School Boards, Retail outlets, Banks, and Hospitals. The Company has positioned itself as a leading provider of highly advanced integrated security systems. Its integration subsidiary, AC Technical Systems, has offices in Ontario, Canada.

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.
: Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in 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. The Company's actual results could differ materially from expected results for reasons described from time to time in the Company's public filings. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
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Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Apr 19, 2005
Words:533
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