Independent Audit Confirms Viability of UltraCard Technology.Business/Technology Editors CAMPBELL, Calif.--(BUSINESS WIRE)--April 18, 2000 UltraCard Inc., a subsidiary of Upgrade International Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : UPGD UPGD Upgraded ), today released the findings of a preliminary technical audit of the UltraCard(TM) technology conducted by Finn Jorgensen, a recognized authority on magnetic heads and media. UltraCard Inc. has developed and patented a technology for high capacity, portable data storage and retrieval in a credit card format. "In order to provide an independent, third-party assessment of the merits of the UltraCard(TM) technology, we asked Finn Jorgensen, an expert on magnetic heads and media, to carry out a technical audit of the proprietary and patented UltraCard(TM) technology," said Daniel Kehoe, president of UltraCard Inc. "After analysing our technology Mr. Jorgensen authored a preliminary technical report," Mr. Kehoe added. A letter from Mr. Jorgensen explaining his initial audit noted that the most striking features of the UltraCard(TM) are: "The large amount of data that can be stored, retrieved and erased e·rase tr.v. e·rased, e·ras·ing, e·ras·es 1. a. To remove (something written, for example) by rubbing, wiping, or scraping. b. , the data reliability, and the potential to stop credit card fraud Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. ." A copy of that letter was released by Daniel Bland, President 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 Upgrade International, during his presentation before the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Society of Security Analysts on March 23, 2000. The main points of Mr. Jorgensen's report are as follows: -- "The large data capacity has been achieved by using hard disk media sputter technology, including coercivities of 1,600 Oersteds and MrT of 2.5 memu/sq/cm. These are basically design parameters that have been used in many magnetic media designs for hard disk drives and are tried and proven metrics metrics Managed care A popular term for standards by which the quality of a product, service, or outcome of a particular form of Pt management is evaluated. See TQM. . These parameters should be readily adaptable to a card format." -- "The dimensions of the card compares to standard credit card sizes which provides space for magnetic read/write heads A device that reads (senses) and writes (records) data on a magnetic disk or tape. For writing, the surface of the disk or tape is moved past the read/write head. By discharging electrical impulses at the appropriate times, bits are recorded as tiny, magnetized spots of positive or to move in linear fashion over the media for writing, overwriting Overwriting An options strategy that involves the sale of call or put options on stocks that are believed to be overpriced or underpriced. The options are not expected to be exercised. Notes: Also referred to as overriding. and reading at very high data rates of several megabits-per-second. The card is still compatible with a standard "swipe" card. The combination of very high data capacity with downward compatibility See backward compatible. is a good approach." -- "The media card R&D and pilot facility at SciVac combines the latest in magnetic coating technology with proven processes which is an excellent strategy. You (UltraCard) have selected the "best of breed" for your application which is the prudent and safest approach. The advanced SciVac sputter machine which can produce about one million cards-per-day should provide UltraCard with a fast ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale production capability." -- "The UltraCard magnetic media has been designed for high strength and durability using coatings of proprietary metal layers... The final protective layer should provide adequate protection from rough handling in the commercial market. This strategy should ensure maximum field reliability and rapid acceptance of the product." -- "The option of using "Keepered Media" as a magnetic shield and protective overcoat is well known technology which add additional features that no other card can provide. These techniques are fairly conventional and adaptable to a card format and have a lot of historical data showing proof of feasibility from several universities and test facilities. Proof of feasibility of Keepered Media has been well known for quite some time and is proven technology." -- "The UltraCard(TM) reader/writer design is straight forward and should be easily manufactured by any one of several disk drive or similar sources." Upgrade International Corp., (www.upgd.com) is focused on the development and acquisition of state-of-the-art information technology. One of its subsidiaries, UltraCard Inc. (www.ultracard.com), has developed a system for high capacity data storage. The management of UltraCard, Inc. believes that their developed and patented product represents a significant advance in the method consumers and businesses will utilize portable data, integrating UltraCard(TM) products into everyday life. Utilizing existing hard disk storage technology, UltraCard(TM) provides a unique and highly durable media in a common credit card format, to satisfy the next generation in personal portable data storage for a broad range of existing and new market sectors. UltraCard(TM) currently provides several megabytes of memory and is fully editable. Management estimates that more than 1 gigabyte of recordable data, on a single credit card format, can be achieved without the need for compression technology. On behalf of the Board of Directors, Daniel Bland This news release may contain 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. relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future results, performance, plans, events or other matters. Such statements involve numerous risks and uncertainties, including, but not limited to, risks and uncertainties pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to development of the Company's products and services and markets for such products and services, the timing and level of customer orders, competitive products and services and pricing, changes in economic conditions and the markets for the Company's products and services and other risks and uncertainties. Actual results, performance and events may differ materially. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this News Release. The company undertakes no obligation to release revisions to these forward-looking statements to reflect events or circumstances after the date of this News Release. |
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