Global ePoint's Aviation Division Opens Tulsa Facility; Expands Southern California Location; AirWorks Expects Record Q4 Revenue.CITY OF INDUSTRY, Calif. -- Global ePoint, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : GEPT GEPT General English Proficiency Test GEPT Global ePoint, Inc. (stock symbol) ), a leading manufacturer of security technologies for the aviation, law enforcement, industrial and commercial markets, today announced that its Aviation Division has expanded operations into an 80,000 square foot aircraft modifcation center in Tulsa, Oklahoma Tulsa is the second-largest city in the state of Oklahoma and 45th-largest in the United States. With an estimated population of 382,872 in 2006,[1] it is the principal municipality of the Tulsa Metropolitan Statistical Area, a region of 897,752 residents projected to . AirWorks selected this location as a completion and modification center in support of a 26 aircraft purchase by Synergy Aerospace. AirWorks will provide complete turnkey services from conversion to delivery of aircraft for WayraPeru, VIPS VIPS Volunteers in Police Service VIPS VAT (value added tax) Information Management System VIPS Veteran Intelligence Professionals for Sanity VIPS Volunteers in Public Schools VIPS VIsion-based Page Segmentation of Equador, OceanAir of Brazil and Avianca Airlines. "The ability to utilize Tulsa for this major project provides us with a springboard from which to develop additional opportunities in a rapidly expanding $12 billion market for aircraft modifications," commented Ricky Frick, President of AirWorks. "But even without these additional opportunities, AirWorks expects to attain record revenues in 2005's fourth quarter," added Frick. The modification program will consist of total cabin refurbishment, certification of new interior configurations, exterior paint, In Seat Power modifications, and the newly released AirWorks In-Flight Entertainment In-flight entertainment (IFE) refers to the entertainment available to aircraft passengers during a flight. After World War II commercial aviation flights became a daily event in which entertainment was requested by passengers to help the time pass. System. "Though we have a long history of providing our customers with complete turnkey solutions around the world, the addition of a dedicated maintenance facility allows us to perform even more detailed and complex modifications," added Frick. "By increasing our modification capabilities, we supplement our Surveillance Products, Electronic Flight Bag Electronic Flight Bag (EFB) is an electronic information management device that helps flight crews perform flight management tasks more easily and efficiently with less paper. , In Flight Entertainment, and Installation kit businesses." Recent estimates of the aircraft Maintenance, Repair and Overhaul Maintenance, Repair and Overhaul or MRO is a multi-billion dollar industry which works on international authorization rules to deliver a safe airline operation and to assure reliability and availability of customer fleets. (MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) industry show explosive growth in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , with a projected market growth of $1.7 billion annually. "With AirWorks providing services to 4 different Latin American Airlines American Airlines Major U.S. airline. American was created through a merger of several smaller U.S. airlines and incorporated in 1934. It continued to buy the routes of other airlines, becoming an international carrier in the 1970s; its routes include South America, the from this strategic Tulsa location, we're very well positioned to continue our growth with Latin American customers." During 2006 AirWorks will continue to perform on already backlogged work orders, and will also evaluate the expansion of the Tulsa facility to add more capabilities and square footage. In addition to the Tulsa facility, AirWorks is strengthening its engineering, certification and manufacturing capabilities as part of a 38,000 square foot relocation of its City of Industry operations to Brea, California Brea is a city in Orange County, California, United States. The population, as of 2007 is 39,560. The city began as a center of crude oil production, was later propelled by citrus production, and is now an important retail center because of the large Brea Mall and the . "With our current backlog and the expansion of our service offerings, the Brea location will provide the necessary facility, personnel, equipment, and repair capabilities to meet our backlog and ensure that we are positioned for new FAA mandates, foreign regulatory mandates, and the on-going need to meet the airline community's demand for our turnkey solutions," said Frick. "These additional capabilities strongly position AirWorks to continue gaining market share in the aircraft security and service sector, which continues to grow and is estimated by industry analysts to reach approximately $28 billion in 2006." About Global ePoint's Aviation Division The Company's Aviation division contains Global AirWorks, whose primary communications and security products include the Cockpit Door Surveillance System (CDSS CDSS California Department of Social Services CDSS Clinical Decision Support Systems CDSS Country Dance and Song Society CDSS Canadian Down Syndrome Society CDSS Community Day Secondary Schools (Malawi) ), a digital electronic "flight bag" of all flight and on-board manuals and records for pilots and a Laptop Computer Power System for passengers and flight crews. AirWorks customers include airline major OEMs, such as AT&T Aviation, BAE Systems, In-flight Phone, L3 Communications, and Rockwell Collins; all major U.S. airlines; and all major international carriers, including ATA (1) (AT Attachment) The specification for IDE drives. See IDE. (2) See analog telephone adapter. ATA - Advanced Technology Attachment , Air China, Bombardier, Finnair, Varig, KLM KLM Kaiserliche Marine (Enigma: Rising Tide game) KLM Koninklijke Luchtvaart Maatschappij (Royal Dutch Airlines) KLM Klub Langer Menschen (German: Tall Person Club) , Lufthansa, and Cathay Pacific. AirWorks holds more than 40 supplemental type certificates (STC STC Supplemental Type Certificate (FAA) STC Society for Technical Communication STC Subject to Change STC Surf the Channel (website) STC Sound Transmission Class STC Singapore Turf Club ) certifying AirWorks as a Federal Aviation Administration Federal Aviation Administration (FAA), component of the U.S. Department of Transportation that sets standards for the air-worthiness of all civilian aircraft, inspects and licenses them, and regulates civilian and military air traffic through its air traffic control (FAA)-approved manufacturer and installer for a range of interior equipment and systems for a variety of commercial aircraft flying worldwide. About Global ePoint, Inc. Global ePoint's growth catalyst, through its wholly-owned subsidiaries, is the design, manufacturing, sales and distribution of digital video surveillance systems for the law enforcement, military, aviation and homeland security markets. On the cutting edge of digital technology and seeking to expand its product line, Global ePoint is developing new compression technologies and next-generation, secure network digital video systems and servers for a wide range of new markets, concentrating primarily on security and homeland defense applications. The Company also manufactures customized computing systems for industrial, business and consumer markets, as well as other specialized electronic products and systems, which provides a solid continuing revenue stream. Complete vertical integration -- from design and manufacturing to sales and distribution -- allows the Company to capture efficiencies and maintain cost advantages in these growing markets, particularly in the homeland security market. For more information, please visit http://www.globalepoint.com. This news release contains forward-looking statements within the meaning 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. Such statements include, but are not limited to whether AirWorks will: provide complete turnkey services to its customers, develop additional opportunities arising out of its Tulsa facility; attain record Q4 revenues; continue its growth in the Latin American markets; continue to perform on backlogged orders in 2006; attain the necessary facility, personnel, equipment, and repair capabilities from its new Brea facility to meet its backlog and ensure that we it is positioned for new FAA mandates, foreign regulatory mandates and other opportunities. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, decisions made by aircraft leasing companies that are beyond AirWorks' ability to control; risks related to the integration of the Company's recently acquired operations; market acceptance of the Company's products; delays in the introduction of new products; production and/or quality control problems; further approvals of regulatory authorities and the denial, suspension or revocation of certifications and licenses by governmental authorities; and the Company's ability to obtain capital as and when needed. For a discussion of these and other factors which may cause actual events or results to differ from those projected, please refer to the Company's most recent annual report on Form 10-KSB and quarterly reports on Form 10-QSB, as well as other subsequent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur. |
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