OPENLiMiT to Market my-con Services.BAAR, Switzerland Baar is a municipality in the canton of Zug in Switzerland. -- OPENLiMiT Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : OPLM) ("OPENLiMiT") today announced that OPENLiMiT and my-con AG ("my-con") have signed a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with the intention of marketing select my-con services through the OPENLiMiT direct sales organization beginning in March of 2005. OPENLiMiT (www.openlimit.com) has developed certain proprietary technology that is marketed as a suite of OPENLiMiT SignCubes products, including the OPENLiMiT(R) Package and OPENLiMiT(R) Business software. Both of these products enhance the provability and security of Internet-based transactions through the application of electronic signatures and encryption. OPENLiMiT markets these products through hundreds of independent consultants to individual consumers and small to medium-sized businesses. my-con (www.my-con.com) has developed an electronic procurement auction platform, which connects public and private buyers from every economic sector within Germany to planners, craftsmen, construction contractors and service providers. my-con has integrated OPENLiMiT SignCubes signature components into its Internet platform, enabling procurement processes to transpire electronically, be legally binding and remain in compliance with VOB/VOL/VOF and EU standards. In addition, the procurement process can be completed without any interruption of the electronic workflow. "my-con has integrated OPENLiMiT SignCubes signature components into its platform because certain procurement processes require the use of digital signatures to be legally valid," said Marc Gurov, chief financial officer of OPENLiMiT. "my-con services for buyers and providers complement the OPENLiMiT product portfolio marketed by our independent consultants by enabling our existing customers to complete procurement services electronically, without any interruption of the electronic workflow, saving time, money and enhancing their competitive edge. my-con services may also open the door for the sale of other OPENLiMiT products, which permit, among other benefits, the digital signing of procurement processes." "The cooperation with OPENLiMiT provides us the increased opportunity to market our services to providers, but also to buyers, effectively throughout Germany," said Fritz Horing, chairman of the board of my-con. "The OPENLiMiT direct sales organization can effectively explain the benefits of our platform and especially the new medium of electronic procurement processes to potential customers in a face-to-face, personal manner. Ultimately, this will translate into increased revenues and a win-win situation for all involved parties." About my-con AG my-con has developed an electronic procurement auction platform (www.my-con.com) that permits secure, legally binding procurement processes for construction contracts, services, products and equipment. The platform connects public and private buyers from all economic sectors in Germany with planners, craftsmen, construction contractors and service providers. my-con AG is headquartered in Stuttgart, Germany. About OPENLiMiT Inc. OPENLiMiT is a technology development and marketing company. The focus of product development is the application of electronic signature and encryption, which enhance the provability and security of Internet transactions. The OPENLiMiT SignCubes software 1.6 is the cornerstone product and has been certified by the BSI BSI - British Standards Institute (German Federal Authority for Security in Information Technology) according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Common Criteria (Common Criteria for Information Technology Security) An international standard process for defining security objectives and for evaluating compliance with those objectives. The Common Criteria have largely replaced the Trusted Computer Security Evaluation Criteria (TCSEC), the Canadian EAL EAL English as an Additional Language EAL Evaluation Assurance Level EAL Eastern Airlines EAL Emergency Action Level EAL Environmental Analysis Laboratory EAL Evidence Analysis Library (American Dietetic Association) 3+/ ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 15408 and SigG/ SigV (German Signature Law/ Signature Guidelines). The OPENLiMiT SignCubes products are marketed through OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and partners and independent direct sellers. A number of statements contained in this press release are 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. that 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 An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results OPENLiMiT may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. OPENLiMiT encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB and Form 10-QSB. OPENLiMiT's public filings may be viewed at www.sec.gov. |
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