WRG Gets VAR Award

Western Reserve Group, a leading provider of automated teller machines has been awarded Hypercom Corporation’s 2000 North American Value Added Reseller of the Year award for its development of the first and only ATM application for Hypercom’s ICE 6000 terminal in its Vision 100 ATM . Describing WRG as an innovative company that thinks outside of the box, George Devitt, Hypercom’s senior vice president and chief marketing officer said WRG is a ‘shining example of what can happen using that philosophy.’ Jairo E. Gonzalez, president, Transaction Systems Group, presented a plaque to WRG’s General Manager, Jason Kuhn.

Hypercom Corporation held its annual Global Partner Conference in Miami Beach, where over 400 business people from more than 70 countries participated in industry workshops, and viewed new products.

Hypercom Corporation, headquartered in Phoenix, Arizona, USA, is a leading global provider of electronic payment solutions. Hypercom maintains an installed base of more than 4 million card payment terminals that operate in over 100 countries and conduct more than 2.85 billion transactions annually.

‘ I just can’t begin to describe how much we are honored to receive this prestigious award,’ said Mike Stevenson, vice president of WRG. This project represents a new frontier for multi-functionality in an ATM machine and a platform that adds revenue through additional profit centers. We’re fortunate to be partnered with a cutting-edge company like Hypercom. In addition, I’m very fortunate to have a development team like Oliver Winter and Jason Kuhn surrounding me,’ Stevenson added. They made the Vision 100 become a reality.’

WRG’s Director of Information Technology and software developer, Oliver Winter, conceptualized and wrote the C.A.S.S. 100© software program, created to drive the ATM application with an ICE 6000 platform adding tremendous functionality to the ATM machine. WRG’s Jason Kuhn, general manager, assisted Winter and focused on finding the quality components and designing the ideal hardware to house the ICE platform. Winter and Kuhn completed the first C.A.S.S.© ATM software program the year before, and it was used exclusively in the NCR 5301 machine. The C.A.S.S. program is now used industry-wide to drive many ATMs. Winter and Kuhn designed the program to eliminate the most common complaints they experienced in practical ATM functionality and the industry quickly recognized its value.

Vision 100 features were demonstrated to the Miami conference attendees in a Business Solutions room during the conference. The international presence was appreciated as interpreters digested & disseminated information in various languages underlining the truly global nature of the event.

WRG’s Vision 100 is a hybrid in many ways. From the spill-proof display and keypad, and a color touch screen, to the graphics program that can carry between 15 and 20 advertisements, and a choice from three printed coupons being offered, the Vision 100 stands apart from the typical ATM machine. With new profit centers, sophisticated functionality and competitive pricing, the Vision 100 is setting a new industry standard.

‘We identified a niche in the industry by designing a machine that addresses the frustrations we dealt with in other machines many of which were also identified by our customers. ‘ said Stevenson. ‘ A company achieves its greatest success by identifying and meeting the needs of its customers. The Vision 100 actually goes beyond that. Becoming known as the company that offers the greatest overall product value is a tremendous business advantage, Stevenson continued. And that is exactly what we have in the Vision 100 the best value.’

WRG chose the Sargent & Greenleaf electronic lock as standard equipment, which allows a quick, and easy one-step operation for efficient cash loading and management plus added security features. The 6120 lock features an automatic relock feature and lets you change codes at any time with a few touches of the keypad, and allows for multiple users. Completing the roster of quality components is the DeLaRue cash dispenser recognized worldwide for its reliability. The all new MiniMech cash dispenser offers seamless delivery of cash. A high performance component, the dispenser has no scheduled maintenance. It has multi-media capability not limiting its use to just currency.

‘Another attractive feature found in the Vision 100 is the low cost of ownership with very little time involved in servicing the machine, said Kuhn. A screwdriver, a nut driver and a few minutes on the telephone with WRG’s service department will handle most service issues. It’s a very user-friendly and low maintenance machine reducing down-time and costly service calls, ‘ Kuhn continued.

‘WRG represents one of the few ‘full-service partners in the ATM industry. Offering hardware and software solutions, processing management, repair service, leasing and ATM supplies in one location allows WRG to provide unprecedented service,’ said Virginia K. Mullenax, director of marketing. We’re a one-stop shop and all about delivering value with service. WRG continues to be recognized for its innovation and is indeed a presence in the ATM industry.’

As a Case Western Reserve University Weatherhead 100 recipient this year, WRG is recognized as one of the fastest growing companies in Northeast Ohio. WRG’s success has resulted in a continuous and steady increase in market share.

WRG, a privately held company based in Willoughby, Ohio is a manufacturer of ATM equipment and software products for the ATM industry throughout the United States and Canada, and is quickly gaining a worldwide presence. The company also provides transaction processing management through Western Reserve ATM Processors and leasing programs through Western Reserve ATM Financial. More information about WRG can be found at [www.wrgservices.com][1].

[1]: http://www.wrgservices.com

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LiquidCredit in Siebel 7

Fair, Isaac and Company, Inc., the market leader in customer analytics and decision technology, announced its support for Siebel 7, the seventh major release of Siebel eBusiness Applications from Siebel Systems, Inc., the world’s leading provider of eBusiness applications software, and that it has joined the Siebel Alliance Program as a Premier Software Partner. This alliance will offer two powerful solutions to help financial services institutions more effectively acquire, retain and service their customers. Fair, Isaac will provide a seamless, validated integration for ClickPremium service, a real-time underwriting decisioning solution, to Siebel eInsurance, and LiquidCredit service, an instant credit decisioning solution, to Siebel eFinance.

Fair, Isaac will submit the integration of ClickPremium — which supports the testing and automated execution of insurance decision strategies across multiple lines and multiple channels — for validation with Siebel 7 within 90 days of general availability, providing organizations with complete eBusiness solutions that increase productivity, maximize revenue and profit, and significantly enhance customer acquisition, satisfaction and retention. As part of the alliance, Fair, Isaac will provide a seamless, validated integration for ClickPremium to Siebel eInsurance, Siebel Systems’ product designed to meet the needs of insurance customers, field agents, brokers, claims representatives, and call center professionals. Fair, Isaac will also provide a validated integration for LiquidCredit to Siebel eFinance, Siebel Systems’ product designed to meet the needs of financial institutions.

Siebel Systems enables software vendors to easily integrate solutions through its open, extensible, advanced Smart Web Architecture. Unlike rudimentary HTML clients, Siebel Smart Web Architecture combines a zero-footprint, browser-based Web client and a user interface with levels of interactivity and usability traditionally available only in Windows applications. The Siebel Smart Web Architecture enables organizations to leverage the industry’s best eBusiness applications at the lowest total cost of ownership.

Siebel 7 extends the reach and functionality of Siebel Systems’ industry-leading suite of integrated, multichannel eBusiness applications, enabling organizations to translate customer relationship strategy into execution by effectively aligning and rapidly integrating channels, employees and partners. Siebel 7 allows organizations to manage, synchronize and coordinate all customer touch points across the Web, call center, field sales and service personnel, and partner channels.

Siebel eInsurance is Siebel Systems’ product specifically designed to meet the needs of the insurance industry. It provides insurance customers, field agents, brokers, claims representatives, and call center professionals with comprehensive policy management, automatic quote generation, and integrated claims processing for personal property, automobile, group life, individual life, and commercial lines of business. Siebel eFinance is Siebel Systems’ product specifically designed to meet the needs of financial institutions. Siebel eFinance integrates the multiple channels of customer contact into a common database, giving all company agents, call center representatives, branch personnel, and relationship managers access to the same information.

As a market leader in providing advanced analytics and decision technology to financial services organizations, Fair, Isaac will support Siebel 7’s initiatives in this industry. As a Siebel Alliance Program member, Fair, Isaac will integrate its ClickPremium and LiquidCredit services into powerful solutions aimed at effectively acquiring, retaining and servicing companies in the financial services industry. LiquidCredit, designed for click-and-mortar financial institutions, Internet credit brokers, e-tailers, and e-marketplaces, is powered by Fair, Isaac’s analytics and decision technology. It offers better, faster and more cost-effective credit origination decisions, resulting in more profitable, enduring customer relationships.

“Siebel 7 delivers state-of-the-art solutions, based on its in-depth understanding of the industries it serves,” said Tom Grudnowski, CEO of Fair, Isaac. “We share the same business and operating philosophy and are delighted to work with Siebel Systems to develop deep, meaningful relationships with financial services organizations that enable them to reduce their costs in acquiring, servicing and supporting their customers.”

Fair, Isaac’s integrated solutions with Siebel 7 will help transform financial services companies and financing arms of commercial companies into true, customer-centric businesses. The result will be reduced costs in acquiring, retaining and servicing customers and increased customer loyalty and long-term customer value. Ultimately, financial services companies that adopt Siebel 7’s customer-centric approach will enjoy an enhanced competitive position, based on their ability to grow meaningful, long-term relationships with their customers.

“Fair, Isaac is a market-leading provider of sophisticated decision technology solutions that are specifically tailored for insurance and financial services industries,” said Catherine Cherubino, Senior Managing Director, Software and Industry Alliances for Siebel Systems. “Together the seamlessly integrated solutions will enable our customers to utilize data to make faster, more profitable decisions on their marketing, customer acquisition campaigns, operations and portfolio management. The integration of ClickPremium for Insurance to Siebel eInsurance and LiquidCredit to Siebel eFinance will deliver the combination of solutions that our customers have been demanding.”

About Fair, Isaac

Fair, Isaac and Company is a global provider of customer analytics and decision technology. Widely recognized for its pioneering work in credit scoring, Fair, Isaac revolutionized the way lending decisions are made. Today the company helps clients in multiple industries increase the value of customer relationships. Fair, Isaac has made the Forbes list of the top 200 U.S. small companies eight times in the last nine years. Headquartered in San Rafael, California, the company reported revenues of $298 million for fiscal 2000. For more information, visit [www.fairisaac.com][1] or call 800/999-2955.

About Siebel Systems

Siebel Systems, Inc. (Nasdaq:SEBL) is the world’s leading provider of eBusiness applications software. Siebel Systems provides an integrated family of eBusiness applications software, enabling multichannel sales, marketing and customer service systems to be deployed over the Web, call centers, field, reseller channels, retail, and dealer networks. Siebel Systems’ sales and service facilities are located in more than 37 countries. For more information, please visit Siebel Systems’ Web site at: [www.siebel.com][2].

[1]: http://www.fairisaac.com
[2]: http://www.siebel.com

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NextGen FICO Scores

Experian, a global information solutions company, announced the introduction of the new Experian/Fair Isaac Advanced Risk Score. Fair, Isaac and Company, a leading provider of credit scoring services, built this next generation of credit scoring models using Fair, Isaac advanced scoring technology and leveraging Experian’s consumer credit data content.

“Experian is focused on providing the most up-to-date solutions to aid creditors in maximizing their offerings in today’s competitive marketplace,” said Peg Smith, president of Experian strategic business development. “Incorporating the NextGen scores into Experian’s variety of available risk assessment solutions provides lenders improved flexibility and greater options to best meet their goals of booking better quality credit and getting greater accuracy in their marketing programs.”

“The sharper credit evaluation provided by the NextGen scores will help lenders more confidently extend credit to new populations, make instant credit offers, reduce losses and deliver more customized products and pricing,” said Cheri St. John, Vice President at Fair, Isaac. She attributes the boost in predictive strength present in NextGen scores to a new design blueprint, which uses the latest advancements in predictive technology.

The Experian/Fair Isaac Advanced Risk Score is available now across Experian’s entire consumer credit reporting product line as part of a suite of credit risk assessment tools. Experian offers credit grantors a variety of credit risk scoring models and consults with creditors to assist them in selecting the model or models best suited to providing the greatest insight into evaluating credit risk.

About Fair, Isaac

Fair, Isaac and Company (NYSE: FIC) is a global provider of customer analytics and decision technology. Widely recognized for its pioneering work in credit scoring, Fair, Isaac revolutionized the way lending decisions are made. Today the company helps clients in multiple industries increase the value of customer relationships. Fair, Isaac has made the Forbes list of the top 200 U.S. small companies eight times in the last nine years. Headquartered in San Rafael, California, Fair, Isaac reported revenues of $298 million in fiscal 2000. For more information, visit the company’s Web site at .

About Experian

Experian enables organizations to find the best prospects and make fast, informed decisions to improve and personalize relationships with their customers. It does this by combining sophisticated and intelligent decision-making software and systems with some of the world’s most comprehensive databases of information on consumers, businesses, motor vehicles and property. Through multi-channel delivery of its Web-based products and services, Experian enables its clients to conduct secure and profitable e-business and develop state-of-the-art Customer Relationship Management (CRM) systems for communicating and building relationships with customers. Experian is a subsidiary of GUS plc and has headquarters in Nottingham, UK, and Orange, California. Its 12,000 people support clients in more than 50 countries. Annual sales are approximately $1.5 billion. For more information, visit the company’s web site at .

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Postilion EMV Released

Mosaic Software has announced the general availability of Postilion EMV Gateway, a low-cost, fast track solution to EMV smart card compliance for both Card Issuers and Transaction Acquirers. Developed to handle all the processing requirements for customer transactions originated with an EMV chip card, EMV Gateway has been successfully implemented in Europe well ahead of the compliance dates mandated by Visa.

The main driver behind the adoption of EMV is the reduction of fraud for all transactions as well as greater security for offline processing of transactions. EMV is the specification, jointly developed by Europay (E), MasterCard (M) and Visa (V) for the interoperability of smart cards and terminals equipped with smart card readers for debit and credit schemes, regardless of the card manufacturer, issuer or location of the EMV terminal.

Essentially, Postilion EMV Gateway processes transactions on behalf of an organizations existing system. Traditional magnetic-stripe messages continue to be routed to the incumbent system — with the EMV transactions being intercepted and switched directly to the appropriate networks. This architecture provides for the ability to support EMV transactions without the need to make costly changes to existing authorization host systems. In addition, Postilion EMV Gateway is able to process the EMV security data using a hardware security module (HSM) prior to switching the message to the existing processor. An added benefit of the Postilion EMV Gateway is that it integrates fully with emerging technologies (including WAP-enabled mobile phones, the Internet and digital TV), allowing for multi-channel generic payment solutions.

About Mosaic Software

Mosaic Software is a leading edge provider of electronic funds transfer (EFT) software for consumer-generated electronic transactions, and is the market leader for web-enabled ATM and prepay software solutions. The company is held by strategic partners GE Equity and Comparex Holdings, and Mosaic management. With offices in the USA, a European office in the UK, South Africa and Australia, Mosaic has a strong global presence. The company is firmly established in the financial services industry and its EFT solutions drive operations in a large number of multinational companies and industry leaders around the globe. Clients include financial institutions, retailers, Internet service providers, card issuers, telcos, data processing service providers and some of the foremost players in the emerging online industry, in the USA, Latin America and the Caribbean, Europe, Australia, the Middle East, Africa and the Asia-Pacific region.

Mosaic’s family of products, named Postilion, is a comprehensive software solution designed to effectively handle the transaction delivery and authorization requirements of every aspect of the EFT arena. Worldwide, Postilion is used for ATM Processing/Monitoring, EFT Switching and Routing, Point-of-Sale (POS), Credit/Debit Card Processing, Internet/Call Center Payment Authorizations, Prepayment, Internet/Home Banking and Mobile Commerce applications. Operating as the first fully-fledged EFT switch running on Windows NT/Windows 2000, Postilion is live in more than 500 installations worldwide.

Mosaic Software clients include 7-Eleven (US), American Express (US), E*Trade (US), Retail Decisions (UK), Calypso (Canada), AutoBranch Technologies (Canada), Greenland Corporation (US), Transaction Network Services (UK), Woodforest National Bank (US), Sky Financial Group (US) Echo (US), Pick ‘n Pay (SA), ABSA Bank (SA), Saambou Bank (SA), NBS (SA), Vodacom (SA) and MTN (SA).

An overview of the company and product may be found at: .

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Gold Cards

Over the past five years Platinum VISA and MasterCards have out shined their gold card brethren. However, over the past twelve months, most of the nation’s top issuers have quietly resurrected gold card products to target primarily the sub-prime and Hispanic markets. Indeed, gold VISA and MasterCards now carry the highest average interest rates, according to CardWatch ([www.cardwatch.com][1]). Among the top ten U.S. issuers, only Bank One/First USA and Fleet have refrained from the gold card revival. MBNA has only one gold product, the ‘First Union VISA Gold’. Citibank continues to offer a gold card in its American Airlines ‘AAdvantage’ program. Providian offers several gold versions with APRs ranging from 16.99% to 23.99%.

TOP GOLD CARD PRODUCTS
Citibank 16.49% $85.00
MBNA 13.99% None
Discover 13.99% None
Chase 18.99% None
Cap One 14.90% $72.00
Providian 23.99% None
BofA 14.40% None
Household 16.49% None
AVG 16.66%
Source: CardWatch (www.cardwatch.com)

[1]: http://www.cardwatch.com

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Buxx Mall

FL-based WildCard Systems has launched an online shopping mall with U.S. Bank in conjunction with the bank’s ‘VISA Buxx’ Web site. Teen cardholders and their parents can access the new shopping mall online which contains hundreds of brands and thousands of products from teen-oriented merchants such as Alloy, GraffitiOnline.com, The Sharper Image and Teva Sports Sandals, as well as offers, discounts, and promotions on special items. The online shopping mall is powered by Altura International and provides an advanced multi-vendor, multi-lingual and multi-currency e-commerce shopping platform. The ‘VISA Buxx’ product was co-developed by VISA USA and WildCard Systems. ‘VISA Buxx’ is currently issued by Bank of America, Capital One, National City, Wachovia, and U.S. Bancorp. (CF Library 8/10/00; 9/14/00)

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e-Port Outlook

After nailing a major deal to deploy its credit card terminals into NYC taxis, USA Technologies said Tuesday it has begun rolling-out its ‘e-Port’ swipe card technology into the manufacturing, laundry, prepaid wireless services, and smart card/debit card dispensing and revaluing industries. For example, laundromats that once required coins and tokens to operate washers and dryers, may now be activated by swiping a credit card, bank or smart card through the ‘e-Port’. The first cashless Laundromat-based ‘e-Port’ technology is being installed this month. USTT currently has USA an existing installed base nearly 1500 terminals. Last month, the company signed a $20 million contract to install 15,000 ‘e-Port’ credit card terminals in taxis and limousines operating in New York City over the next three years. The first of several thousand ‘e-Ports’ will begin appearing in New York cabs and limousines in January. (CF Library 9/6/01)

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2Q Market Share

MasterCard gained 110 bps in market share during the second quarter, based on total U.S. volume, at the expense of Discover and American Express. VISA continues to maintain a 51.9% market share of U.S. volume, which includes credit cards and off-line debit cards. During the second quarter, MasterCard added net, new cardholders at double the rate of VISA. MasterCard added 5.8 million net cardholders in 2Q, while VISA grew by 2.9 million, Discover increased by 1.1 million, and American Express added 400,000 net cardholders. At mid-year, Americans owed $567 billion in debt on VISA, MasterCard, Discover and American Express cards, according to CardData (www.carddata.com). Of the $567 billion in outstandings, approximately $500 billion is owed on consumer credit cards with the balance owed on commercial credit cards.

U.S. CREDIT/DEBIT CARD VOLUME
Brand 1Q/01 VOL SHARE 2Q/01 VOL SHARE
VISA $204.6 billion (51.9%) $223.4 billion (51.9%)
MC $109.6 billion (27.8%) $124.4 billion (28.9%)
AMEX $ 55.6 billion (14.1%) $ 58.8 billion (13.7%)
DISC $ 24.4 billion ( 6.2%) $ 23.5 billion ( 5.5%)
TOTAL $394.2 billion $430.1 billion
Source: CardData (www.carddata.com)

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EUROPAY MID-2001

Mid-year 2001 key business indicators from Europay International Europe’s leading payment system highlight continued double-digit growth.

Figures for the first six months of the year show that 283.2 million cards carrying Europay brands Eurocard®-MasterCard®, Maestro®, eurocheque® and Cirrus© are now being carried by European consumers, a rise of 14% over the same period last year. This translates into thirty-four million new cards 70% of which originated in the UK, Germany, Spain, Italy and Turkey.

The number of Eurocard-MasterCard credit/charge cards rose 14% to reach 73 million. On the debit side, cards bearing Maestro, eurocheque and/or Cirrus brands kept their market lead with 210.1 million cards – a rise of 14%. This confirms their position as European consumers’ preferred debit solutions. Close to 194 million of these cards are Maestro branded.

Europay’s acceptance networks broke the 300,000 barrier with the number of ATMs increasing by 21% to almost 305,500. The number of point-of-sale terminals accepting Maestro jumped 17% to reach over 2.7 million, while close to 5 million merchants now accept Eurocard-MasterCard cards a rise of 12%.

The number of transactions generated by cards bearing Europay brands grew by 15% in comparison with last year, to reach 12 billion. Associated volume increased by 13% and passed the €1 trillion mark.

Dr. Peter Hoch, Europay’s Director and CEO, said “These excellent figures show the popularity of our brands and services with our Members and their customers. As we move closer to our strategic partner MasterCard, these results confirm the strength of Europe as a key player within a global marketplace.”

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Access & Assets Card

Checkpoint Systems, Inc., a leading provider of supply chain management and security solutions worldwide, unveiled a new line of access control readers and cards at the ASIS Show, Booth #1263, Henry B. Gonzalez Convention Center in San Antonio, Texas.

The Performa Proximity Readers and Proximity Plus Cards utilize advanced 13.56 MHz radio frequency identification (RFID) technology that, for the first time, enables the integration of access control and asset tracking capabilities into one system. This new and innovative system will enable a broader range of application requirements to be satisfied as companies continue to look for ways to improve their inventory management capabilities.

Checkpoint’s new Performa(R) Proximity Reader for reading ID badges can be mounted directly on any type of wall or door mullion, including metal, without impacting the performance. In addition, the reader is weatherized to withstand harsh outdoor environments. Its 13.56 MHz RFID technology is the globally accepted frequency and the most advanced technology available.

The Performa(R) Proximity Plus(TM) Cards are also compatible with Checkpoint’s RFID asset tracking product line. The new line of cards are the most reliable available given Checkpoint’s expertise in high-volume RFID tag manufacturing and innovative “flipchip” assembly. The credit card-sized cards utilize a passive, battery-free design allowing for an infinite number of reads and over one trillion unique codes. The cards can be pre-programmed with customer-specific identification numbers and can include graphics quality direct print.

Checkpoint’s Access Control Products Group now provides a single source for securing your facility and tracking important assets. These new cards and readers join the family of Performa products successfully launched in 1999. The Performa line includes paper-thin, flexible passive tags and advanced readers designed to maximize reader range for fixed and portable applications. In addition, Checkpoint offers a complete range of software for access control an asset tracking applications. “The new Performa(R) Proximity Readers and Proximity Plus(TM) Cards leverage Checkpoint’s RFID technology in order to provide a single source solution for access control and asset tracking,” said Dave Shoemaker, group vice president, strategic marketing, Checkpoint Systems. “Checkpoint is continually expanding our product offerings to offer our customers next generation technology and breakthrough, cost-effective solutions.”

Checkpoint Systems, Inc. is a multinational company that manufactures and markets labeling systems designed to improve efficiency, reduce costs and provide value-added labels solutions for customers across many markets and industries. Checkpoint is a leading provider of EAS and RFID systems, source tagging, barcode labeling systems, hand-held labeling systems and retail merchandising systems. Applications include automatic identification, retail security and pricing and promotional labels. Operating directly in 30 countries, Checkpoint has a global network of subsidiaries and provides professional customer service and technical support around the world. Checkpoint Systems, Inc.’s web site is located at [www.checkpointsystems.com][1].

[1]: http://www.checkpointsystems.com

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UltraCard Raises $3 Million

Upgrade International Corp. announced that it has received an additional $2.5 million in funding from Antares 2 Pension Fund, managed by Fonditel EGFP, SA., and $500,000 from a private European investor.

Fonditel is the manager of pension assets for Telefonica, the global telecommunications operator headquartered in Spain. Daniel Bland, Upgrade’s President and CEO stated the following: “This financing will enable Upgrade and UltraCard to move forward in our efforts to commercialize the UltraCard and deliver many applications including an alternative solution to a central database model for a national ID card system. UltraCard once commercialized will allow for your entire encrypted biometrics identification system to be stored on the card, thereby eliminating the need to store and verify your personal ID from a government-controlled central database. Not only does this solve the `Big Brother is watching’ concern it also has the potential to drastically reduce the cost of building the database infrastructure. Protecting our borders and our way of life without trampling on our civil liberties should be the number one priority in the information technology business today. We will expend a substantial amount of our resources in fulfilling this obligation.”

About Upgrade

Upgrade International Corp. () through its ownership interest in UltraCard Inc. (), Efornet Corp., and cQue Corporation is engaged in the development and commercialization of a patented ultra high capacity portable data storage technology. UltraCard’s patented method for using existing hard disk storage technology provides both highly durable media in a credit card format and an inexpensive read/write device that together will become the next generation in personal portable data storage for a broad range of existing and new markets. Management believes that the UltraCard technology will potentially provide numerous industrial users with a combination of high levels of security and a vastly greater amount of personal transportable data storage at the lowest cost in the industry. In addition the acquisition and development of existing SmartCard solution providers represents a strategic market strategy designed to accelerate the integration of the vastly superior technology inherent in the UltraCard into existing and newly developing markets.

On Behalf of the Board of Directors, Daniel S. Bland President and Chief Executive Officer

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