Enhanced Vision Systems for: Aviation & Aerospace Trucking & Other Vehicles Marine Applications Portable & Handheld Systems
Advanced has contracts with aviation makers to install the EVS safe flight system. They retrofit many aircraft, as well as produce them for new planes. The have an ongoing relationship with Krollsman Air( www.krollsman.com ) and are affiliated with Gulfstream Air ( Gulfstream.com ). They are aggressively searching for new applications and markets for their devices.
Some recent news from 8-k on 8/10/2004:
"The launch customer offered EVS as optional equipment....buyer response was so strong that within 6-9 months, EVS was incorporated into the baseline as standard equipment. "
"In late 2003 our licensee signed an agreement with a new customer. This event is significant for several reasons. The most obvious effect is the new customer will provide additional sales. Less obvious, but equally important, is this customer is the first end-user. He is not an aircraft OEM, but an owner-operator of a fleet of aircraft. The largest market envisioned for EVS is the end-user operator. An FAA Flight Operations Rule change for EVS was adopted early 2004 making certification easier for EVS. And lastly, the completion of this contract will add four new aircraft type/models to the list of FAA Supplemental Type Certifications (STC) approved for EVS."
"At the end of June 2004, we were within 16 units of meeting the second level of royalties specified in our agreement. "
Company Background: Advance Technology traces its technical roots back to 1992, with research into applied thermal imaging systems at Hughes Aircraft Corp. The resulting invention by Mr. Gary E. Ball became known as the "Enhanced Vision System" (EVS), patented in 1994. Mr. Ball left Hughes, and founded Infrared Systems International (ISI) to develop and market EVS technology in aviation. In 1997, ISI and Kollsman Inc., the leading commercial avionics supplier, entered into a development and licensing agreement, winning a development contract with Gulfstream, for producing an EVS system for Gulfstream GV business jet aircraft. In January, 1999, the company was acquired by Advance Technologies, Inc., a publicly held corporation whose trading symbol is AVTX. Business expansion into new markets with leading vehicle, aircraft, and medical manufacturers have enabled Advance Technologies to expand our business base beyond our core aviation solutions. We strive to meet the growing demands of each of our clients and offer the long term support that makes our products and services the best in the industry.
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