Maximum Dynamics, Inc. Announces First TagNet Contract
WEDNESDAY, DECEMBER 17, 2003 7:03 AM
COLORADO SPRINGS, CO, Dec. 17, 2003 (MARKET WIRE via COMTEX) -- Maximum Dynamics, Inc. (MXDY) , a technology solutions company that combines cutting edge technology with back office and administration services to provide client side support and business process management services, announced today that it secured its first contract of TagNet with the Taxi Cab Driver's Association (TCDA), a 12,000 member organization in South Africa.
TCDA is purchasing 600 TagNet devices as a pilot project and upon successful implementation and utilization will begin purchasing at least 2,200 more. Initial discussions have indicated that TCDA may purchase as many as 6,000 devices. In addition, TCDA wants to take an active role in selling the product to others as well as a cost effective anti-theft system. The initial pilot contract will result in approximately $1 million in revenues for 2004 for Maximum. The contract is the first one Maximum has secured for TagNet since obtaining the intellectual property in its acquisition of Maseco Denmark about one month ago.
The first 600 TagNet units will be installed into taxi cabs over the next few months. TCDA will utilize the devices to manage its fleet of taxis more effectively. Not only does TagNet allow TCDA to track their vehicles but the devices can also communicate with one another, enabling a more efficient coordination of routes and coverage areas. The devices will also help to prevent car jackings, reduce the ability for drivers to be unproductive, reduce theft or unreported cab fares, and assist in determining what the cause of an accident may have been.
TCDA is a coveted account in South Africa because it has so many members and a number of products and services that can be sold directly to the organization and/or throughout its members. For example, TCDA is also considering purchasing units of MPOS2002, Maximum's cellular mobile point of sale credit card charging device. MPOS2002 is undergoing systems integration with the South African voucher and credit card systems and should be ready for use in South Africa on or before the end of February.
The account was introduced to Maximum by members of its International Advisory Board, in particular Dingindawo Shongwe and Sindiswa Mzamo. "This contract is significant for two reasons," said Eric Majors, CEO of Maximum. "First, it speaks volumes about the level of approval we have received in this country. There are blue chip companies that have a hard time getting access to organizations like TCDA and selling products to them. TCDA has high standards and only sources products that are cost effective and make sense for their business. So, the fact that in a very short period of time we were able to get access and sign a contract like this with them tells us we have wide spread support in South Africa. Secondly, it speaks volumes about the quality of the TagNet technology."
In South Africa, contracts of this size typically take longer to secure because they must pass through corporate governance committees and board approval processes. TCDA had been looking for something cost effective like TagNet for quite some time. TCDA's review of TagNet demonstrated that the device met its requirements and management pushed the contract through the approval process fairly quickly.
"Our business has evolved very quickly as extraordinary business opportunities have emerged and because we have responded to meet the needs of companies in South Africa and throughout other parts of the world," added Majors. "We have come to realize that the African Continent as a whole is a market that is explosive, especially in certain industries in which we are well positioned now. More than that, though, we are focusing on providing products and services that will help to improve the communities in which we are doing business. This is the exact reason why TCDA wants to work with us. They see that we are here to do much more than just sell them a product. In fact, they asked us not only to supply TagNet to them but also to partner with them on a variety of other projects throughout the various communities."
For more information, visit the company's website at http://www.maximumdynamics.com
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. Maximum Dynamics assumes no obligation to update the information contained in this press release. Maximum Dynamics' future results may be affected by its ability to continue to implement its hedge fund administration services, its newly acquired Internet marketing capabilities, its dependence on procuring highly competitive hedge fund administration contracts, its dependence on hiring and retaining qualified professionals, potential fluctuations in its quarterly operating results, its dependence on certain key employees and its ability to timely and effectively integrate the businesses it may acquire.
Source: Maximum Dynamics, Inc.
SOURCE: Maximum Dynamics, Inc.