CTX Virtual Technologies, Inc. Enters Joint Venture Discussions With Beijing Broadcast Co. to Provide Telematics Products
Published: September 26, 2011 6:00 AM
By The Associated Press
BOCA RATON, Fla. - --(BUSINESS WIRE)--Sep. 26, 2011-- CTX Virtual Technologies, Inc. ("CTXV" or the "Company") (Pinksheets: CTXV - News), announced today that its subsidiary Kaibida International Limited has begun discussions with Beijing Broadcast Co. to develop and market telematics products for Beijing Broadcast subscribers.
Clifford M. Rhee, CEO, stated, "This is a significant opportunity for the company to enhance our automotive related projection technology with a major broadcaster who carries a significant number of subscribers.”
Telematics is a multi-smart platform of interactive information downloaded on a vehicle device which is supported by a background service. Telematics system is integrated technology of GPS (Global Positioning System) and GSM (Global System for Mobile) to be used as a navigational system and to locate or rescue a lost or stolen vehicle. Kaibida and Beijing Traffic Broadcast (as BTB) look forward to working together on this joint venture which allows the Telematics system to provide interactive information on-line, utilizing the monopolizing role of traffic broadcast by BTB. This service is trending up along with the rapidly increasing number of vehicles in China. Currently, Beijing Broadcast Co. has 85% audience penetration in the Beijing area with over 6 million vehicles.
Telematica Main service:
1. Driving assistant: A special unique logo or virtual secretary will be displayed on the windshield to remind the driver of information he should focus on.
2. Information on-line: This service is similar to QQ or MSN displayed on the windshield which is interactive information between the driver and the background base over the internet through 3G mobile technology.
3. 3D Navigation: Is a real time 3D road display on the windshield reporting road situations by a DAB (Digital Audio Broadcast) system from time to time. When the vehicle speed reaches 60km per hour, the navigation display automatically changes to a virtual road map.
4. Background Service: Background Service of BTB has grown to over 100,000 driver club members since established two years ago. Through the DAB and 3G communication system we can provide remote help anytime the member experiences a problem.
5. Internet Connection: We can provide mobile internet connection service through the 3G communication system with preferential pricing provide by a contracted mobile signal carrier.
6. Night Vision safety: This is an optional item designed in the system for detecting and identifying object in the road utilizing night vision sensors providing the driver with additional safety while driving at night.
7. Drivers club on-line: This service focus on real-time dialogue between multiple drivers connected together through the 3G communication system with preferential pricing provide by a contracted mobile signal carrier.
8. Telematic Device: The Telematic device with GPS, HUD and DAB functions will be integrated with a Smartphone via Bluetooth connection.
CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements - The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX’s expectations, should be considered as forward looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
CONTACT: CTX Virtual Technologies, Inc.
Clifford Rhee, 561-962-2835
info@ctxtechnologies.com
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS TELECOMMUNICATIONS MOBILE/WIRELESS
SOURCE: CTX Virtual Technologies, Inc.
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